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Key transfer pricing terminology—table

Key transfer pricing terminology—table FORTHCOMING CHANGE relating to UK transfer pricing legislation: On 29 April 2025, the UK government published draft legislation for technical consultation which proposes several changes to UK transfer pricing rules (as well as to the UK rules on permanent establishment and the diverted profits tax). These include, amongst other changes, the removal of UK-to-UK transfer pricing (subject to some exceptions to prevent opportunities for tax arbitrage), amendments to the participation condition, and various changes to the provisions governing financial transactions. The draft legislation follows an initial policy consultation on reform in this area launched by the Conservative government in 2023, and the announcement of follow-up consultations by the Labour government at Autumn Budget 2024. A further consultation was also launched on 29 April 2025 on proposals to restrict the existing exemption for SMEs to small enterprises only and introduce a new filing obligation for in-scope multinationals. At Autumn Budget 2024 the government announced that it would be reviewing the transfer pricing treatment of cost contribution...

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EU Floods Directive 2007/60/EC—snapshot

EU Floods Directive 2007/60/EC—snapshot Key information Floods Directive Title Directive 2007/60/EC of the European Parliament and of the Council of 23 October 2007 on the assessment and management of flood risks (the Floods Directive) Entry into force 26 November 2007 (art 18) Transposition deadline 25 November 2009 (art 17) National transposition See Eur-Lex information on national transposition measures, as provided by Member States Amendments None Subject Flooding Purpose of the Floods Directive The purpose of the Floods Directive is to establish a common framework for assessing, managing and reducing the risk that floods, particularly along rivers and in coastal areas, pose to human health, the environment, property and economic activity in the EU. It provides for the assessment of the risk of flooding in river basins, the mapping of flood hazards and risks in all regions where there exists a serious flood risk and the drawing up of flood risk management plans by Member States. The Directive’s prevention and management measures are organised by river basin districts (which...

Personal pensions—an introduction

Personal pensions—an introduction FORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes). The Finance Act 2022 will also give members of registered pension schemes a right to take their benefits before age 57, if on or before 4 November 2021 they either had an ‘unqualified right’ to take benefits or were in the process of a substantive transfer to a scheme offering an unqualified right to a protected pension age of less than 57 on or before 4 November 2021. To benefit from this new 2028 protection, the rules of the pension scheme must have included (on 11 February 2021) an unqualified right to take the entitlement to scheme benefits before age 57. For further information, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact. Statutory development of personal pensions Retirement annuity contracts were the...

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NEC4 PSC—Form of Agreement and Z clauses

NEC4 PSC—Form of Agreement and Z clauses Agreement in relation to [insert brief details of the works/project] at [insert address of works] (Incorporating (inter alia) the NEC4 Professional Services Contract 2017 with January 2019 Amendments, October 2020 Amendments and January 2023 Amendments as modified and supplemented in the manner indicated in this Agreement and the Schedules hereto). This Agreement is made on the [insert number] day of [insert month] 20[insert year]. Parties 1 [insert name of the Client] (company registration number [insert number]) whose registered office is situated at [insert address of the Client] (‘the Client’), 2 [insert name of the Consultant] (company registration number [insert number]) whose registered office is situated at [insert address of the Consultant] (‘the Consultant’) Background (A) The Client wishes for certain works, namely [insert brief details of the works/project] as more particularly described in this contract, to be executed. (B) The Client wishes to appoint the Consultant and the Consultant has agreed to be appointed in accordance...

Music publishing agreement—pro-publisher

Music publishing agreement—pro-publisher This Agreement is made on [date] Parties 1 [Insert name of Publisher] a company incorporated in [England] with registered number [company number], whose registered office is at [address] (Publisher); and 2 [Insert name of Writer] of [insert address] (Writer). Background (A) The Writer is a composer of musical works and/or an author of lyrics of literary works; (B) The Publisher is engaged in the business of music publishing throughout the Territory and has, inter alia, facilities for the administration and exploitation of musical works; and (C) The Publisher wishes to acquire and the Writer wishes to grant to the Publisher the exclusive right to the Writer’s share of the Compositions, subject to the terms of this Agreement. It is agreed as follows: 1 Definitions and Interpretation 1.1 In this Agreement: Accounting Period • means each six monthly period ending on 30 June and 31 December; Advance • means all monies paid to the Writer by the Publisher other than royalties. Such...

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What does it mean when a party waives or asserts its ‘moral rights’ in a building contract or consultant appointment?

What does it mean when a party waives or asserts its ‘moral rights’ in a building contract or consultant appointment? Moral rights in intellectual property provisions Intellectual property is an important issue in relation to construction projects. The parties that own the copyright in designs and specifications want to protect their rights—the parties who need to use the copyright material, both during the construction works and once the building/project is completed, want to make sure that they have adequate rights to do so without infringing copyright. See Practice Notes: Copyright in construction contracts and Copyright in a consultant's appointment for information on copyright matters in construction. It is standard practice, therefore, to include provision within a building contract, consultant appointment, collateral warranty or other construction contract which deals with intellectual property rights. Typically, a contractor/consultant/sub-contractor grants a licence to the party that it has contracted with, allowing that party to use the relevant copyright material for a broad list of purposes—usually including matters such as the construction, maintenance...

Where financial proceedings have been issued in Form A, is the applicant compelled to serve the issued Form A on the respondent who is in Cyprus or can the court do so?

Where financial proceedings have been issued in Form A, is the applicant compelled to serve the issued Form A on the respondent who is in Cyprus or can the court do so? The service of documents in family proceedings out of the jurisdiction is governed by the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, Pt 6, Ch IV and FPR 2010, PD 6B. Chapter IV applies to the service of both application forms and other documents (eg Form A) (FPR 2010, SI 2010/2955, 6.40(1)(a)). Permission to serve a document for the purposes of FPR 2010 out of the jurisdiction is not required (FPR 2010, SI 2010/2955, 6.41). The general provisions as to the methods of service out of the jurisdiction are to be found in FPR 2010, SI 2010/2955, 6.43. These provisions are permissive rather than mandatory. It is therefore possible for the court to serve Form A on a respondent in Cyprus. However, a number of factors need to be borne in mind. First, the method chosen must...

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Lexis®PSL Environment weekly highlights—8 June 2017

Welcome to the weekly highlights from the Lexis®PSL Environment team for the week ending 8 June 2017. This week’s highlights include feature articles on a recent Public Account Committee’s report on carbon capture and storage (CCS), and on investigating the cost and causes of waste crime. Aside from the major story of the week relating to the USA’s intention to withdraw from the Paris Agreement, we also include items on electricity market reform, a warning from the International Emissions Trading Association (IETA) that EU emissions trading reform negotiations must speed up, the publication of two new reports from the International Energy Agency (IEA), and the announcement of a new climate risk partnership between the Local Authority Pension Fund Forum (LAPFF) and the 50/50 Climate Project. We also cover the latest updates and developments on the European Consensus on Development, the CFD round 2 non-qualification review assessment process, the publication of a new British Standards Institutions (BSI) standard to help boost the circular economy, and news that Natural Resources Wales has...