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Completing the JCT 2016 Minor Works Building Contract Particulars—checklist

Completing the JCT 2016 Minor Works Building Contract Particulars—checklist The Agreement, Recitals, Articles and Contract Particulars at the start of a JCT contract set out the project specific details for the particular works to be carried out. It is very important that these are fully completed and that the details are correct to avoid ambiguity and disputes regarding what is required. This Checklist provides practical guidance as to how to complete the details including links to relevant Practice Notes which provide detailed information on the areas covered. It is aimed at those who are relatively new to dealing with JCT contracts. An employer will often arrange for the architect/contract administrator or other consultant to complete the particulars at the start of the contract and will then ask its lawyer to check the contract before the parties execute it. Alternatively, a lawyer may be asked to fill in all of the details but they will need input from the client or its consultants as to the details to be inserted. This...

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Funding an employee benefit trust

Funding an employee benefit trust This Practice Note covers the following issues in relation to the funding of an employee benefit trust (EBT): • practical aspects of funding an EBT • financial assistance—the background • financial assistance—the current position • relevance of financial assistance to EBTs • financial assistance—exemptions • the employees’ shares scheme exemption • consequences of non-compliance of the financial assistance provisions • tax implications for close companies which fund EBTs, and • corporation tax relief in respect of EBT funding Practical aspects of funding an EBT When an EBT is first set up, it needs to be provided with initial financing, as a trust cannot exist without initial trust assets. It is common for a nominal amount, for example £100, to be settled on the trustee in order to establish the EBT (for further details, see Practice Note: Setting up an EBT). However, after the EBT has established, other funding can be provided. This may be by way of: • voluntary contribution • loan...

Tax considerations for the life sciences sector

Tax considerations for the life sciences sector This Practice Note provides an overview of some of the tax issues that are particularly relevant to a company operating in the life sciences sector. Such companies may include pharmaceutical, medical technology, biotechnology companies etc. In particular, it considers, among other things, corporation tax issues such as research and development (R&D) reliefs and the patent box; and cross-border issues such as transfer pricing and investment reliefs. Brexit impact On 31 January 2020, the UK ceased to be an EU Member State and entered an implementation period during which it continued to be treated by the EU as a Member State for many purposes. This ended on 31 January 2020, after which EU law and the jurisdiction of the Court of Justice of the European Union largely ceased to apply to the UK. The trading relationship between the UK and the EU thereafter is governed by the EU-UK Trade and Cooperation Agreement. State aid As a result of the UK’s departure from...

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Consultancy agreement—company and individual—pro-client (short form)

Consultancy agreement—company and individual—pro-client (short form) [ON HEADED NOTEPAPER OF CLIENT COMPANY] [Insert consultant’s name] [Insert consultant’s address] [Insert date] Dear [insert consultant’s name] [ Consultancy agreement OR Insert name of project ] Further to our recent discussions, I am pleased to confirm the terms of our agreement regarding the provision of your consultancy services to [insert name of client company] (Company). 1 Term 1.1 [Subject to the terms set out in this letter, your engagement [will commence OR commenced] on [insert date] and will continue unless or until either party gives to the other not less than [insert number] [weeks’ OR months’] prior notice in writing. OR 1.2 Your engagement will be for a fixed period of [insert number] months from [insert date], subject to the terms of this letter and subject to the right of either the Company or you to give to the other not less than [number] [weeks’ OR months’] notice in writing during such fixed period terminating the...

External data protection officer (DPO) appointment terms—company to individual—pro-client

External data protection officer (DPO) appointment terms—company to individual—pro-client Delete clause 3.6 of Precedent: Consultancy agreement—company and individual—pro-client and replace it with the following clauses 3.6 and 3.7: 3.6 Your method of work is your own and you will carry out your tasks as data protection officer (DPO) (as set out in the Schedule in an independent manner. You will not receive (and the Company[ and its Group Companies] will not seek to provide you with) any instructions regarding the exercise of those tasks. 3.7 Subject to clause 3.6, you will pay due regard to the reasonable requests of the [Board OR Chief Executive] and will, where possible, work and co-operate with any employee, worker, agent or other consultant of the Company[ or any Group Company] in the provision of the Services. Insert the following provisions in Precedent: Consultancy agreement—company and individual—pro-client as new clauses 3.14 and 3.15. 3.14 You acknowledge that the Company: 3.14.1 has appointed you on the basis of your professional...

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An offshore trust is established by a non-domiciled settlor. The trust owns an offshore company which holds shares in a UK company. The settlor becomes UK resident non-domiciliary (res non-dom), but deemed UK domiciled. The beneficiaries include the settlor and other UK res non-dom (deemed dom) persons (including the beneficiaries). The UK company pays dividend to the offshore company, which in turn pays an equivalent dividend up to the trustee. The trustee makes a discretionary income distribution to the beneficiaries. Is there any exemption for income tax charge for the beneficiaries on account of settlors having already been taxed on the UK dividends arising in the offshore company under section 720 of the Income Tax Act 2007?

An offshore trust is established by a non-domiciled settlor. The trust owns an offshore company which holds shares in a UK company. The settlor becomes UK resident non-domiciliary (res non-dom), but deemed UK domiciled. The beneficiaries include the settlor and other UK res non-dom (deemed dom) persons (including the beneficiaries). The UK company pays dividend to the offshore company, which in turn pays an equivalent dividend up to the trustee. The trustee makes a discretionary income distribution to the beneficiaries. Is there any exemption for income tax charge for the beneficiaries on account of settlors having already been taxed on the UK dividends arising in the offshore company under section 720 of the Income Tax Act 2007? We have assumed that: • the distribution to the beneficiaries is within the scope of section 731 of the Income Tax Act 2007 (ITA 2007) • the income of the offshore company and the trust does not constitute ‘protected foreign source income’ within the meaning of ITA 2007, ss 721A and 729A...

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Supreme Court upholds judge’s decision that contract not obtained by bribery (Shagang v HNA)

Dispute Resolution analysis: The Supreme Court has ruled that the Court of Appeal had been wrong to interfere with a High Court judge's factual findings that a charterparty between the appellant and a subsidiary of the respondent had not been procured by bribery, in circumstances where he could not be certain that the confessions of bribery had not been obtained by torture. Written by Caroline Pounds, barrister at Quadrant Chambers.