A financial report compiled by the reporting accountants of a company that supports the working capital statement made by the directors in a prospectus, admission document or circular.

A statement from the company (usually supported by a working capital report prepared by the reporting accountants) that confirms whether or not the company has sufficient working capital for its present requirements (usually for a period of 12 months). Such a statement must be included in a prospectus and in certain circulars required to be published by the Listing Rules and in an admission document. The working capital statement will be supported by a private comfort letter from the reporting accountants to the company.

Add the following definitions to clause 1 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form: Actual Working Capital means the amount of Working Capital of the [Company OR Group] as at the Completion Date as shown in the Working Capital Statement and agreed, deemed agreed or determined (as the case may be) in accordance with Schedule [9 OR [insert working capital statement schedule number]]; Buyer’s Accountants means [insert name of firm] of [insert address]; Estimated Working Capital means £[insert amount]; IFRS means the International Financial Reporting Standards issued by the International Accounting Standards Board; Inventory means the [trading and non-trading ]inventory of the [Company OR Group] as at the Completion Date including, without limitation, all goods and other assets purchased for resale, raw materials, component parts, work-in-progress and finished goods; Inventory Schedule means the schedule showing the value and composition of the Inventory as at the Completion Date, as agreed by the Parties or otherwise determined in accordance with Schedule [9 OR [insert working capital statement schedule number]]; Seller’s Accountants means [insert name of firm] of [insert address];

[Print on letterhead of reporting accountants] The Directors [insert name and address of company] and [insert name and address of sponsor] [insert date] Dear [insert text] [insert name of company] (the Company): Application for admission

[Print on letterhead of reporting accountants] The Directors [insert name and address of issuer] and [insert name and address of sponsor] [insert date] Dear [insert name] [Insert name of company]

This Practice Note provides an overview of the legal issues that an employer should consider when an employee who is employed by and working for the benefit of a UK entity is working remotely outside the UK. Employers are receiving more requests from employees to work from home, but a request to work remotely outside the country where an employee is employed has extra considerations. This Practice Note considers some of the employment and tax issues that may arise from such a request. These are on top of any practical difficulties associated with working across multiple time zones. For an employer to assess these considerations, it is important that they know about these arrangements and so the first step for employers is to be clear with employees that such working arrangements require pre-approval. Employers should consider putting in place a policy setting out when employees should seek approval and how to go about doing so. Different factors can impact the considerations below.

The Working Time Regulations 1998 (WTR) which provide basic minimum rights to work a reasonable number of hours and have reasonable rest breaks and holidays.

This Practice Note considers the derogations and exceptions that apply in relation to the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, and which may consequently in practice provide an employer with a defence to a working time claim. It looks at jobs with unmeasured working time (sometimes known as the managing executive exception) which may apply to managing executives or other persons with autonomous decision-taking powers, family workers and some workers officiating at religious ceremonies, where certain working time rights do not apply. It also considers the special case exemptions: workers a long way from home (including offshore workers), security or surveillance work, where continuity of service is required, where there is a foreseeable surge of activity, accidents and ‘acts of god’ and certain railway workers. The Practice Note also examines the exemption for certain shift workers and the need for compensatory rest and adequate rest when one of the exemptions applies. It also considers the use of workforce or collective agreements to derogate from working time rights. A number of types of job are excluded

FORTHCOMING CHANGES: In measures expected to come into force on 1 October 2026, time limits for making certain claims in employment tribunals in Great Britain (and, in certain cases, industrial tribunals in Northern Ireland) will be increased from three months to six months. The changes are set out in section 152 of the Employment Rights Act 2025 (ERA 2025) and ERA 2025, Schedule 12 (not yet in force), and in The Employment Tribunals Extension of Jurisdiction (England and Wales) (Amendment) Order 2026 (draft), The Employment Tribunal (Extension of Time Limits) (Miscellaneous Amendments and Transitional Provisions) Regulations 2026 (draft) and The Employee Study and Training (Procedural Requirements) (Amendment) Regulations 2026, SI 2026/473. This Practice Note will be updated as soon as the relevant statutory instruments are made. For more information, see Practice Note: Employment Rights Act 2025—tracker. This Practice Note considers the rights that workers have under the Working Time Regulations 1998 (WTR 1998) and the enforcement of those rights. It covers the right to a 48-hour maximum working week unless there is a valid

This Practice Note provides an overview of the key working time rules that apply to drivers and operators of goods and passenger vehicles in relation to daily driving and duty limits, breaks and rest requirements. It covers the assimilated drivers’ hours rules (previously referred to as the EU drivers’ hours rules or EU retained drivers’ hours rules), the European Agreement Concerning the Work of Crews of Vehicles Engaged in International Road Transport (AETR) rules and the domestic drivers’ rules, such as the Road Transport (Working Time) Regulations 2005. In particular, the Practice Note outlines when each set of these rules apply and requirements for each, exemptions, and applicable Working Time Regulation 1998 (WTR 1998) provisions in each case. The Practice Note also outlines the key provisions in relation to self-employed drivers and the remedies available to a worker for breach of their rights under WTR 1998 and the Road Transport (Working Time) Regulations 2005. Drivers and operators of goods vehicles and passenger vehicles may be subject to Great Britain (GB) domestic or assimilated working

This Practice Note sets out ways in which in-house lawyers can work effectively with other functions within the business to ensure compliance with regulatory requirements. What regulations need to be complied with and who is responsible for compliance programmes? In any organisation there will be sector‑specific rules and cross‑cutting obligations (for example data protection, health and safety, competition, product safety, financial crime, environmental obligations, employment, consumer protection, advertising and marketing, sanctions/export controls, and reporting/tax). In an organisation which is in a regulated sector, the presence of the compliance department should be obvious. However it is rare that a compliance department covers every type of regulation. When the main business activity is not regulated, the way in which compliance is tackled may be fragmented. Someone in the human resources (HR) department may lead on health and safety. Someone else in HR may lead on ethics (anti-bribery). There may be an environment team leading on environmental regulations but perhaps they don't cover some issues, eg how products should be packaged

At 11 pm (GMT) on 31 December 2020, the Brexit transition/implementation period, entered into following the UK’s withdrawal from the EU, came to an end. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes began to take effect across the UK’s legal regime. Prior to IP completion day, the Establishment of Lawyers Directive 98/5/EC (Establishment Directive) gave members of certain legal professions in the EU, EEA and Switzerland the right to practise in the UK on a permanent basis, subject to registration with one of the UK’s legal regulatory bodies. In England and Wales, the relevant regulatory bodies were the Solicitors Regulation Authority (SRA) and the Bar Standards Board (BSB). Separate arrangements were in place for Scotland and Northern Ireland. Lawyers registered under this regime were known as Registered European Lawyers or RELs. Since IP completion day, the REL regime has largely fallen away. On 1 January 2021, the SRA arranged