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CTA law

Cta Law

by AndrewGifford17, Jul. 2023

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	Legal Juristdictions UK	England and Wales Scotland Northern Ireland
	Crown dependency egs	Channel Islands and Isle of man
	Crown dependencies	Determine own legal and fiscal policies but UK responsible for foreign policy and defence
	Common law	Law made by Parliament
	Equity law	Establishing truth of matter then implement solution
	Common law remedies	Monetary compensation called damages
	If equity and Law conflict what wins	Equity
	Substantive law	Rules of law
	Adjective law	Law relating to legal procedure and process in applying substantive (procedural law)
	Public law	Defines constitution and functions of crown, parliamentary and judiciary eg revenue and criminal law
	Private law	Legal relationships between private persons
	3 sources of law	Legislation Case European Union
	Juristic persons	Corporations
	Unjuristic persons	Individuals and partnerships Trustees of trust Personal representatives of a deceased person Unincorporated associations
	Perpetual succession	Found in companies. Where business will be passed on eg death estate
	Company or partnership	Separate legal existence? Share capital? Is people running business separate from identity Entitlement to profits and type of distribution? Responsibility of debts? Assets in co or individual
	Question of fact vs law	Fact - direct evidence of agreement by parties of dispute Law- content of legal rules
	Primary vs secondary facts	Primary facts proved Secondary inferred
	The crown
	Privy council	Formal group of cabinet ministers Advise the monarch in ceremonial and constitutional matters
	Tax raising powers	Only parliament since 1911 can raise tax
	Judiciary	Courts Adjudicated in disputes
	5 nature's of UK constitution	Monarchical Uncodified Flexible Unitary Dualist
	Tax practitioners negligence	Failure to point out possible advantages of carrying out a transaction in one way rather than another.
	Taxing statutes	Crown applies to VAT stamp duty and stamp duty land tax Not income CGT or IT
	Judicial review	Judge made process which examines legality of actions or decisions taken by a public body Applications are made to the administrative court. Need to be within 3 months after grounds to make first claim arise.
	Locus standi	Person capable of bringing action into court
	Judicial review grounds	Illegality Irrationality Procedural impropriety
	Illegality	HMRC error of fact HMRC error of law Use of powers for improper purpose Unlawfully delegated Fettered it's discretion Failed to act out it's duties
	Procedural impropriety	Failed to follow a mandatory procedure Representations to be made Failed to act impartially HMRC has failed to act on a legitimate expectation Failed to give reasons for a decision
	Judicial review remedies	Quashing order Mandatory order Prohibition order Can also grant an injunction
	Primary legislatures	Parliament and privy Council. They create acts of Parliament (statutes)
	Secondary legislation	Privy Council Ministers of the Crown Government departments, public corporations and court rules Committee Local government Professional bodies Can be declared invalid by the courts
	Declaratory act	Creation of new law
	Public acts	As a whole or throughout one or more legal jurisdictions in the UK
	Private acts	Initiated outside Parliament and apply to a particular community or particular person.
	Amending act	Acts amend existing law or repeal existing law. All finance acts are amending acts
	Enabling act	Bestow powers on other bodies to make the law to other persons
	Whitehall stage	Executive to formulate policies so that laws can be made to advance policies. Green paper or white power
	Westminster stage	Act by Parliament is a formal process. Proposed legislation is out forward as a bill which is a draft statute. Introduced by either House of commons or Lords
	Who mist approve an act of Parliament to approve it	House of commons House of Lords Crown
	Formal steps for a bill to be introduced	First reading Second reading Committe stage Report stage Third reading
	First reading	Notice of presentation of Bill. Explanatory notes also produced to give readers the government's understanding of the text
	Second reading	House debates it's general principles. Vote is taken and if approved by simple majority taken to next stage
	Committee stage	After being considered by committe Bill may be amended and new clauses may be introduced
	Report stage	Government and house may make further ammendments and add or reverse amending changes by standing committee
	Third reading	No ammendments can be made Passed by house if majority vote. Final stage
	Bill to House of lords	Goes through same stages as other house. Any ammendments returned to original considered it for that house to agree the amendments Delay the passing of Bill by max 1 year and can only be delayed twice.
	Royal ascent	After being agreed by both houses royal signs off
	Money solution	Authorise any part of Bill which involves a significant amount of expenditure from central government funds.
	Ways and means resolution	Needed to authorised the levying of taxes
	Extent of an act of parliament	Geographical area of which it operates
	Act of Parliament elements in order	Monarchs name and royal arms Name and year of act and acts chp no Table of contents Long title (what its about) Date of Royal ascent Enacting words
	Making of secondary legislation	Drafted by the legal government department authorised to make it.
	Subordinate legislation	Legislation effectively has an expiry date
	Intra/ultra vires	Within/outside powers conferred by
	Affirmative resolution procedure	Draft - cannot be made unless a draft has been laid and approved by both Houses Made - come into force before it's debated but can't remain without approval of both houses
	Extra statutory material	Extra statutory concessions Statements of practice Hmrc interpretations Hmrc briefs Tax bulletins Other HMRC materials - manuals/leaflets and booklets
	Doctrine of precedent	Follow reasoning processes that was used by a judge in a previous case
	Ratio decendi	Using outcome of a previous case
	Court hierarchy	Supreme Court Court of appeal civil decision Upper tribunal First tier tribunal
	Supreme court	Hears appeals only on points of law of public interest. Permission must be obtained to appeal to supreme Court.
	Court of appeal	Appeals only on points of law and step below supreme 2 divisions criminal and civil
	Upper tribunal	High Court In exceptional cases can be court of first instance
	First tier tribunal	Dispute with HMRC starts here. Establish facts and make decision to resolve it. Not a court of record so decisions don't form precedent
	Persuasive precedent	Not bound by other court but may agree with decision . Consider Seniority/ standing/time to consider
	Orbiter dicta	Statements by a judge that aren't central to the case before them and that are made in passing
	Flexibility in legal system	Precedent overruled by Parliament by passing an act Restatement of law only affects future cases
	Actus reus	There must be a prohibited act
	Mens rea	Defendant must have appropriate guilty state of mind
	Proceeds of crime act 2002	Breaching money laundering
	Fraud act 2006	False representation Failure to disclose information Abuse of position Tax evasion
	Criminal finance act 2017	Failure to prevent facilitation of tax evasion
	Data breach notification and fine	Ico within 72 hours Up to 17.5m or 4% of global income
	Tort of negligence	Provides remedies for victims of harmful conduct. Likely damages. Claim within 6 years
	Professional negligence	Owes duty of care Breached duty of care Suffered loss as result of the breach
	Example of realty	Only 1 is freehold property
	Example of chattels real	Leasehold land
	Choses in possession	Tangible moveable property, capable of physical existence
	Choses in action	Intangible property that doesn't have physical existence
	Possession	Whoever has the control of the property at that time
	Joint tenancy	Owns the whole item of property together with each of the other co-owners. This is common law and equity Entitled to rights in relation to the whole of the item No single owner able to sell without joint agreement of all the other co-owners. May affect Equity Deceased share accrues to the survivors and can't be passed on in will
	Tenancy in common	Only recognised in equity law Rights to ownership of whole item but income arising is proportional Able to sell without joint agreement On death can be left in will
	Completing transfer of ownership	Chose in possession- transferred by physical delivery Land- transferred in writing of transferred document Shares - stock transfer form
	Acquisition of property under joint tenancy	Possession Interest Time Title For tenants in common only possession
	Land	Buildings and other structures, land covered with water and any estate, interest or right over land
	Examples of land	Physical soil Natural produce of soil Airspace above earth Buildings Ground covered with water Estates interest and intangible rights
	Estates in land	Crown owns the land but own a period of time
	Freehold estates	Period of time without end.
	Leasehold estate	Period of time with defined duration. Tenancy often encountered in this context.
	Reversionary leases	Leases that take effect within 21 years from date that they are granted
	Interests in land	Owns rights over someone else's land. Restrict Estate owners use of land.
	Easements of land	Right for someone to use land of another.
	Profit a prendre	Right of one person to enter and take property off another person's land
	Covenant	Agreement by which one person promises the other that they will do or not do something in relation to their land
	Mortgage	Land is th transfer of an interest in land in order to secure the repayment of a loan or discharge of some other obligation
	Estate contract	Enters into a contract with another person who may acquire an interest in the land of the estate owner
	Creation of a valid lease	Usually involves a one off payment called premium Premises must be accurately defined.
	Implied obligations of the landlord	Quiet enjoyment Repair and fitness for habitation
	Implied obligations of the tenant	Pay the rent (if due) Pay rates and taxes Allow landlord to visit premises if they are liable to repair Return premises and the end of lease in state of repair
	Bringing a leasehold estate to an end	Expiry at the end of period of lease Giving notice to quit Merger Surrender Forfeiture
	Tenancy at sufferance	After expiry of lease tenant remains in occupation of the premises
	What stage is sale of land done	Contract is bound by exchanging of contracts
	Fee simple	Land owners complete of ownership of piece of land and all properties in it
	Making of a contract	Intend to create legal relations Agreement -Signified by offer and acceptance Supported by consideration or contained in a deed
	Actions that's aren't offers	Supply of information Declaration of intent Invitation to treat
	Terminating an offer	Rejection Counter offer Revocation Lapse of time Failure of condition precedent Death
	Promissory conditions	Obligation in a contract which one of the parties has the power to fulfill
	Condition precedent	Condition suspends the contract until the occurrence of a specific event
	Condition subsequent	A previously binding contract is to come to an end on the occurrence of a specific event.
	Conditional contract	Operation depends on a an event which is not certain to occur
	Retention of title clauses	Some contracts for the sale of goods businesses provide that the seller continues to be the legal owner of the goods with legal ownership. Provides seller with some security for payment
	Variation of contracts	May be varied by agreement between parties and new contract formed.
	Novation	May assign rights it enjoys under the contract but can't without consent transfer duties and obligations to a third party
	Vitiating factors	An invalid contract either void or voidable by innocent party
	Voidable contract	Valid and enforceable unless innocent party chooses to cancel the contract making it void
	Main factors which invalidate a contract	Illegal or contrary to public policy-void Mistake or representation Duress or undue influence
	Lawfully discharged contracts	Performance By agreement Frustration
	Frustration	Subsequent change in circumstances brought by neither party has become impossible to perform
	Remedies for breach of contract	Damages Specific performance
	Damages	Put injured party into position they would have been in. Compensatory and not punitive
	Punitive	Punish the person who failed to carry out their obligations
	Specific performance	Equitable remedy order to carry out original agreement
	Express authority of agent	May be given to form contract between principal and agent
	Apparent or ostensible authority	When client is aware who agent is and deals with agent not principle
	Apparent power to bind their principle	Representation by words or conduct that agent can act on behalf Representation must have been made by principal to the 3rd party 3rd party must have relied on representation made to them.
	Duties of an agent	Obey lawful instructions Perform duties with due diligence Accurate books and keeping own money separate to principle Act in good faith Not to make secret profit Not to delegate Not to disclose confidential info
	Duties of principal	Pay agent commission or other remuneration agreed. Indemnify the agent for acts lawfully done and liabilities incurred by them
	3 parts to hire purchase	Obtains goods (bailment) Option to buy at end of period Contract of sale - hirer under no obligation to buy
	Call option	Binds grantor to sell asset
	Put option	Binds the grantor to buy asset
	Restraint of trade clause	Legitimate interest to protect Restrictions are reasonable When an employee leaves for a rival
	Significance of employee status	Employment protection legislation Vicarious liability Preferential creditors on insolvency Social security benefits VAT
	Termination without breach	Notice Accordance with terms Passage of time Mutual agreement Frustration Summary disposal with cause
	Wrongful dismissal	Breach of contract by employer. Employees who have been there more than 2 years are protected from this
	Unfair dismissal	Either procedure for dismissal not fair or reason for dismissal was not fair
	Unfair dismissal awards	Reinstatement Re-engagement Compensation
	Redundancy reasons	Employer ceased or ceasing business Requirements for role or location changed
	Contract of service	Employment relationship between individual and business
	Contract for services	Individual works for a self employed person for business
	Written partnership agreement	Profits shared Meetings of partners and management Restrictions on activities Firm nameDate started Capital proportionsProfits sharedMeetings of partners and managementRestrictions on activities Admission of new partnersDeath or retirement Preparation of financial statements Indemnity for each partnerDispute resolution Firm nameDate started Capital proportionsProfits sharedMeetings of partners and managementRestrictions on activities Admission of new partnersDeath or retirement Preparation of financial statements Indemnity for each partnerDispute resolution Firm nameDate started Capital proportionsProfits sharedMeetings of partners and managementRestrictions on activities Admission of new partnersDeath or retirement Preparation of financial statements Indemnity for each partnerDispute resolution Admission of new partners Death or retirement Preparation of financial statements Indemnity for each partner Dispute resolution
	Llp	Corporate body with separate identity Liability limited to their capital contribution Transparent for tax purposes Perpetual succession
	Domicile of origin	Born during lifetime of father then the domicile at his birth.If father not alive or illegitimate Child has their domicile of country mother is domiciled in at birth
	Domicile of choice	Acquire a residence and intention of General and indefinite residence
	Grounds for divorce	Acted in way can't live with them Deserted other party for 2 years Parties have lived apart for at least 2 years with consent of other party Lived apart for 5 years (no need for consent) Adultery
	Mesher order	Trust under which sale of home is deferred until a specified event occurs
	Defined as not children	Step children Adopted children Surrogacy arrangements Foster
	British overseas territories citizenship	Derive nationality from connection with overseas territory eg Gibraltar
	British overseas citizenship	Doesn't carry right to abode.
	Powers of attorney	Over 18 Cant appoint a substitute Instrument must be in prescribed format
	Divorce stages	Petition Response Decree nisi Decree absolute
	Personal representative	Person responsible for administering a deceased person's estate
	Executor	Personal representative appointed under deceased will to carry out terms of a will No limit on this. Minor can't probate
	Administrators (wills)	Appointed by the court because the deceased didn't have a will
	Duties of personal representative	Obtain probate or letters of administration Ascertain assets and liabilities of the estate Collect assests, recover debts and preserve deceased assets Pay the expenses and debts
	Concurrent wills	Advisable to make wills in each country
	Formalities of making a will	In writing Signed by dead person Witnessed by 2 persons Capacity to make a will Intend the will to be operative
	Deed of variation	Within 2 years of death provided any beneficiaries left off by the changes agree to them. Normally for someone left out
	Specific legacy	Item of property must be specific and distinguishable
	General legacy	Gift of property which isn't specific. Can be an instruction to buy an asset for a beneficiary
	Pecuniary legacy (demonstrative legacy)	This is a gift of money which may also be a specific or general legacy as case may be.
	Residuary legacy	Gift of the residue of the deceased property after the liabilities of the deceased expenses of personal representatives have been met
	Advantages of will	Can choose personal reps Executors can be appointed trustees Can act before probate Guardians of minor children can be appointed Executors and trustees can be given extended powers
	Intestacy	When someone dies without a will
	What can a surviving spouse take	Person chattels 270k plus interest from date of death 50% residue absolutely
	Commorientes	When 2 or more people die at the same time. Rule is oldest died first if unknown
	Bare trusts	Settlor creates trust but doesn't impose active duties. Act within interests of beneficiary
	Life interest	Beneficiary enjoys their interest in possession for their own life. Interest in possession is known as a life interest
	Reversionary interest	Future interest under settlement
	Absolute reversionary interest	Remainderman interest is vested to take the property at the end of the interest in possession.
	Reversionary contingent reversion interest	Has to satisfy a condition before their interest vests in them
	Discretionary trusts	Beneficiaries have no immediate right to use of the trust property or to the net income of the trust as it arises
	Exhaustive discretionary trusts	Trustees are under duty to distribute all of the net income that arises in a period
	Non exhaustive discretionary trust	Trustees discretion to distribute the net income
	Non tax advantages of trusts	Owner may wish to retain control Prevent immediate control going to benefactor Can be dealt with particular way in future Decide at future date who should benefit
	Express private trust	Certainty of intention Subject matter Objects (beneficiaries)
	Duties of trust	Act within scope of powers Protect trust property Invest trust property Act impartially between benefactors Not to profit or purchase from trust
	Sui juris	Someome who can enter into a contract without any restriction
	Breach of trust remedies	Recover trust property Damages from trustees
	Life tennant	Has an interest in income only
	Remainderman interest	Only in capital
	Memorandum of association	Signed by company inital shareholders. Each signatory is at least 1 share
	Application of registration of company	Name of the company Address of registered officials it an unlimited company or limited Public or private company Statutory registers Standard industrial classification
	Statement of capital	Total number and aggregate nominal value of shares issued by company Name of each share classRights attached to each and currency in which shares are denominatedTotal amount unpaid on issued shares Total number and aggregate nominal value of shares issued by company Name of each share classRights attached to each and currency in which shares are denominatedTotal amount unpaid on issued shares Total number and aggregate nominal value of shares issued by company Name of each share classRights attached to each and currency in which shares are denominatedTotal amount unpaid on issued shares Total number and aggregate nominal value of shares issued by company Name of each share classRights attached to each and currency in which shares are denominatedTotal amount unpaid on issued shares
	Statement of proposed officers	First director and company secretary. Private company doesn't need a company secretary
	Statement of initial significant control	All people with significant control (more than 25%) Can appoint or remove a majority of the company board
	Plc requirements	Nominal amount of shares must be at least 50k At least 25% of nominal value and all share premium paid Benefits provided to promoters of company
	Company being resident in UK	Centrally managed and controlled in the UK
	Company limited by guarantee	No share capital but guaranteed by its members
	Company limited by shares	Liability for company debts is limited to the amount of share capital that they subscribed for their shares
	Company's articles	Issue of shares Rights of shareholders Declaration and payment of dividends Conduct of meetings Role and powers of directors
	Special resolution	Carried only where 75% of the vote cast at a meeting of members are in favour of changing articles
	Company meeting notice required	At least 14 days notice to shareholders
	Public company agm notice	Requires 21 days
	Registers which must be kept	Register of members Register of charges Register of directors Register of PSC over a company
	Special resolution time	Must be filed with companies House within 15 days being passed
	Preference shares	Fixed rate dividend which is paid in priority to other shareholders
	Pre emption right	Opportunity of subscribing additional shares before shares are issued to new shareholders
	For CGT purposes share capital can be reorganised when	Class rights are varied Reduction in company share capital Nominal value altered Increase of allotted or issued share capital
	Reducing share capital	If articles allow it a special resolution Court approval is required or Solvency statement
	Buying back shares	Approved by ordinary resolution Memorandum available 15 days before the meeting 28 days return to companies House Shares brought back must be cancelled unless held as treasury Transfered to capital redemption res
	Debentures	Like a share certificate so owners can prove they are creditors of the company
	Secured loans	Rights over the company's property against which the loan has been secured
	Security for lendor	Personal guarantee Charge over company assets
	Fixed charges	Attached to a physical asset like land
	Floating charges	Charge on a class of assets of a company, present and future. Applies to future as well as current assets
	Does fixed or floating take priority	Fixed then floating
	Indemnities	Promise by vendor to make payments if certain liabilities arise
	Common warranties	Accounts warranty Precise nature of assets and liabilities Tax warranties General warranties Disclosure warranties
	Tupe	Transfer of undertakings (protection of employment)
	Legally binding parts of heads of agreement	Confidentiality Exclusivity period Cost
	Criteria for moratorium	Is or unlikely to be able to pay debts Likely moratorium would rescue company as going concern
	Company voluntary arrangement	Makes an agreement with creditor and able to continue it's business
	Administration	Primary objective is to return company as going concern
	Types of liquidation	Compulsory liquidation by a court orders a company to be wound up Members voluntary liquidation- solvent company wind up Creditors voluntary liquidation-shareholders vote to wind up liquidator then manages
	Preferential creditors	Wages 4 months before relevant date Holiday pay Occupational pension Money borrowed to pay wages

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