Note that this Practice Note deals only with trust assets comprising an interest in land. Transferring assets to a trust Assets will be transferred to a trust when: • the trust is created, or • the settlor adds new assets to the trust, or • the trustees buy new assets or settle trust assets on new trusts A trust can be created either by will, or by a lifetime disposition. The latter can be by: • a self-declaration of trust by the current owner of the interest in the land, or • a transfer of the land to trustees to hold on trust which either at the time of its creation or at some later stage is ‘manifested and proved by some writing signed by a person who is able to declare such a trust’: see section 53(1)(b) of the Law of Property Act 1925 (LPA 1925). ‘Writing’ includes email: see Khan v Khan. For the formal requirements of transferring such interests under a lifetime disposition, see methods of transfer below. Transferring assets

A pension transfer occurs when a person's entitlements under one pension scheme are moved to another pension scheme. The transferring scheme transfers relevant assets to the receiving scheme and the receiving scheme becomes responsible for the provision of benefits in respect of the relevant person. The members of all UK registered pension schemes which are personal pension schemes have an overriding statutory right to transfer the cash equivalent value of their benefits to another pension arrangement, subject to meeting certain prescribed conditions. Many personal pension schemes also permit transfers out in a broader range of circumstances than those in which the statutory right arises, eg: • partial transfers • transfers of benefits that are in drawdown, and • transfers of particular assets in non-cash form It is important in practice that transfers paid from personal pension schemes are paid in circumstances that amount to the payment of a recognised transfer for HMRC purposes and that do not unwittingly lose the benefit of any tax-related protections and statuses that the member may have. Personal

This Practice Note provides a high-level summary (primarily for non-tax lawyers) of the tax consequences and available exemptions where intellectual property (IP) is transferred in corporate transactions either through the sale of shares in a company holding the IP or as part of the sale of the trade and assets of a business. It also briefly considers the situation regarding VAT on the sale of IP assets. The tax consequences will vary depending on the nature of the vendor and the purchaser. The term IP has a specific meaning for tax purposes. For more information about what does or does not constitute IP for tax purposes, see Practice Notes: What is an intangible fixed asset? and Excluded intangible fixed assets. The UK has, broadly, two approaches to taxing IP transactions: • the corporate intangible assets tax rules: these apply to IP created or acquired by a company on or after 1 April 2002 (unless the asset was acquired before 1 July 2020 from a related party that owned the asset before 1

Contracting-out on a salary-related basis (also known as DB contracting-out) was abolished on 6 April 2016. Members of schemes that were contracted-out salary-related schemes (COSR schemes) pre-abolition may have accrued one of two types of contracting-out rights: • guaranteed minimum pensions (GMPs), which are contracting-out rights accrued before 6 April 1997, or • Section 9(2B) rights (also known as post-1997 contracted-out salary-related rights or post-1997 COSR rights), which are accrued on or after 6 April 1997 These contracting-out rights are jointly referred to in this Practice Note as 'contracted-out salary-related rights' or 'COSR rights' for short. For more information on the legal regime applicable to COSR rights post-6 April 2016, see Practice Note: Legal regime applicable to Section 9(2B) rights and GMPs from 6 April 2016. Pre-abolition, the legislative requirements applicable when transferring COSR rights were set out in the Contracting-out (Transfer and Transfer Payment) Regulations 1996, SI 1996/1462 (the Contracting-out Transfer Regulations), before they were amended with effect from 6 April 2016 by the Pensions Act

Contracting-out on a salary-related basis (also known as defined benefit (DB) contracting-out) was abolished on 6 April 2016. Members of schemes that were contracted-out salary-related (COSR) schemes pre-abolition may have accrued one of two types of contracted-out rights: • guaranteed minimum pensions (GMPs), which are contracted-out rights accrued before 6 April 1997, or • Section 9(2B) rights (also known as post-1997 contracted-out salary-related rights or post-1997 COSR rights), which are contracted-out rights accrued between 6 April 1997 and 5 April 2016 These contracted-out rights are jointly referred to in this Practice Note as 'contracted-out salary-related rights' or 'COSR rights' for short. The legal regime governing transfers of COSR rights is set out in the Contracting-out (Transfer and Transfer Payment) Regulations 1996, SI 1996/1462 (the Contracting-out Transfer Regulations). HMRC has also published guidance concerning the transfer of COSR rights. This Practice Note covers transfers made following the abolition of DB contracting-out, ie on and from 6 April 2016. For information on transfers of COSR rights made before the abolition

The general rule under the corporate intangible assets regime in Part 8 of the Corporation Tax Act 2009 (CTA 2009) is that a company’s gains and losses in respect of its intangible fixed assets (IFAs) are computed and brought into account as credits and debits for corporation tax purposes in line with the accounting treatment of those IFAs. In other words, a company’s accounts, prepared in compliance with generally accepted accounting practice (GAAP), provide the basis from which the taxable and relievable items and amounts in respect of a company’s IFAs are derived. This principle is often referred to as ‘tax following the accounts’. There are, however, several exceptions to this general principle where the corporate intangible assets rules prescribe a departure from the accounts and require IFA credits and debits to be calculated on a different basis. For more on the tax treatment of IFAs generally, see Practice Note: How intangible fixed assets are taxed—basic principles. One area where the tax rules can depart from reliance on the company's accounts

The Bank of England (BoE) and the Financial Conduct Authority (FCA) have responded to the phase two industry recommendations in relation to the Transforming Data Collection project, and set out their future strategy.

International shipments of waste to and from Great Britain are governed by Assimilated Waste Shipment Regulation 1013/2006 (UK WSR) and the Transfrontier Shipment of Waste Regulations 2007, SI 2007/1711 (TFSR). In Northern Ireland, Regulation (EU) 2024/1157 on shipments of waste (EU WSR 2024) applies, having repealed and replaced Regulation (EC) 1013/2006. For more on the EU WSR 2024 and UK WSR, see Practice Note: GB Assimilated Regulation on Shipments of Waste—snapshot. For information on the Basel Convention, the international treaty on transboundary movements of hazardous waste, see Practice Note: The Basel Convention—snapshot. For more on obligations under the TFSR, see Practice Note: Transfrontier shipments of waste—compliance and controls. For more on offences and enforcement under TFSR, see Practice Note: Transfrontier shipment of waste—offences, enforcement and penalties. This Practice Note sets out a brief analysis of important reported cases firstly from the domestic courts and secondly from the Court of Justice of the European Union (CJEU). Post-Brexit decisions of the CJEU are no longer binding in the UK, but some EU caselaw is still binding

The Transfrontier Shipment of Waste Regulations 2007, SI 2007/1711 (TFSR) (as amended by the Transfrontier Shipment of Waste (Amendment) Regulations 2008, SI 2008/9 and the Transfrontier Shipment of Waste (Amendment) Regulations 2014, SI 2014/861), make provision for the enforcement of EU Assimilated Regulation 1013/2006 on Shipments of Waste (WSR). This Practice Note sets out the offences created by the TFSR, the way in which the TFSR are enforced and the possible penalties upon prosecution. For more information on obligations under the TFSR, see Practice Note: Transfrontier shipments of waste—compliance and controls. The Environment Act 2021 (EA 2021) expanded powers in section 141 of the Environmental Protection Act 1990 (EPA 1990) to make regulations to prohibit or restrict waste imports and exports, so that further regulations can be made in connection with the regulation of imports and exports of waste, and the transit of waste for export. EPA 1990, s 141(1A) gives further detail on the provision that can be made by those regulations. This includes banning or restricting waste imports and exports,

Legislative and policy framework At an international level, the Basel Convention on the control of transboundary movements of hazardous wastes and their disposal (the Basel Convention) provides a framework for controlling the movement and management of hazardous and certain other wastes. Waste must be transported and recovered in an environmentally sound manner to avoid pollution of the environment or harm to human health. The UK is a party to the Basel Convention. See Practice Note: The Basel Convention—snapshot. Decision III/I (Amendment to the Basel Convention) prohibits the transboundary movement of hazardous waste to states that are not members of the Organisation for Economic Co-operation and Development (OECD) or the EU and Liechtenstein. This provision took effect in the UK from 1 January 1998 with the amendment of Council Regulation (EEC) No 259/93 by Council Regulation (EC) No 120/97. Waste Shipment Regulation (EC) No 1013/2006 (now repealed) implemented and supplemented the Basel Convention within EU law. The EU Waste Shipment Regulation created controls on transfrontier shipments of waste. In GB Assimilated Regulation (EC)

Transgender describes a person whose gender identity differs from the sex recorded at birth. In UK and Irish legal practice it is primarily a descriptive term used in equality, employment, education, healthcare, prisons and family law, rather than a tightly defined legal category. In Great Britain, the Equality Act 2010 instead uses “gender reassignment” as a protected characteristic, which covers many (but not all) transgender people. In Northern Ireland, protection arises under sex discrimination, disability discrimination and human rights frameworks. In Ireland, the Gender Recognition Act 2015 and equality legislation protect transgender persons, including those with a gender recognition certificate. The term is relevant when advising on discrimination, harassment, victimisation, privacy, data protection, hate crime, access to services, single-sex and separate-sex spaces, and workplace policies. It is distinct from sexual orientation. Usage is broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland, but the precise statutory language and scope of protection differ by jurisdiction, so practitioners should cross‑check the applicable legislation and case law.

Family analysis: This judgment highlights developments in the law surrounding transgender adolescents and their ability to consent to puberty blockers and cross-hormone treatment. It acknowledges the importance of consent being fully informed and given without pressure. It looks to the extent of the role of parental responsibility and at what stage the court may need to intervene to protect the best interests of the child or adolescent. This is a sensitive area of law and this judgment recognises that it is not for the court to provide guidance beyond what is necessary. The court approved the further assessment for treatment of a young person by a private London clinic, but found it needed to go no further as other issues would not be live until the completion of the assessment. The court stressed that future cases in this area need to be considered on a case by case approach to ensure the law is developed incrementally and as required in the absence of intervention by Parliament. Emily Chapman, pupil at 1 Garden Court Family Law Chambers, looks at the issues.