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Legal Terms – Distribution
n. 1. The allocation of entitlements to beneficiaries as stipulated in a deceased individual's will or in accordance with intestacy laws. 2. Any disbursement executed by a corporation to a shareholder. There are two distinct categories of firm distribution. An income distribution refers to the allocation of profits created by a firm over its existence, occurring at a specific point in time. A capital distribution refers to a payment issued upon the dissolution of a corporation or when a company reimburses a portion of its share capital. An individual's income distribution is liable to income tax, while a capital distribution received by an individual is subject to capital gains tax, unless it falls under the income tax provisions as specified in the Income Tax Act 2007, section 684, due to securities transactions.
A distribution may occur in cash or in kind.
n. 1. The allocation of entitlements to beneficiaries as stipulated in a deceased individual's will or in accordance with intestacy laws. 2. Any disbursement executed by a corporation to a shareholder. There are two distinct categories of firm distribution. An income distribution refers to the allocation of profits created by a firm over its existence, occurring at a specific point in time. A capital distribution refers to a payment issued upon the dissolution of a corporation or when a company reimburses a portion of its share capital. An individual's income distribution is liable to income tax, while a capital distribution received by an individual is subject to capital gains tax, unless it falls under the income tax provisions as specified in the Income Tax Act 2007, section 684, due to securities transactions.
A distribution may occur in cash or in kind.
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Legal Terms – district
A local government area in England (excluding Greater London) that constitutes a subdivision of a county. The Local Government Act 1972 restructured the 6 metropolitan and 39 non-metropolitan counties in England into 36 metropolitan and 296 non-metropolitan districts, and the 8 counties in Wales into 37 districts. The Local Government Act 1985 disbanded the six metropolitan counties and devolved their functions to the metropolitan district councils, which became single-tier authorities. A district may be designated a borough through a royal charter issued upon the request of the district council. The Local Government (Wales) Act 1994 disbanded the Welsh counties and districts, which were replaced on 1 April 1996 by 22 unitary authorities (11 counties and 11 county boroughs). Unitary administrations were implemented in some non-metropolitan regions of England between 1996 and 1998 and have since been more broadly formed.
A local government area in England (excluding Greater London) that constitutes a subdivision of a county. The Local Government Act 1972 restructured the 6 metropolitan and 39 non-metropolitan counties in England into 36 metropolitan and 296 non-metropolitan districts, and the 8 counties in Wales into 37 districts. The Local Government Act 1985 disbanded the six metropolitan counties and devolved their functions to the metropolitan district councils, which became single-tier authorities. A district may be designated a borough through a royal charter issued upon the request of the district council. The Local Government (Wales) Act 1994 disbanded the Welsh counties and districts, which were replaced on 1 April 1996 by 22 unitary authorities (11 counties and 11 county boroughs). Unitary administrations were implemented in some non-metropolitan regions of England between 1996 and 1998 and have since been more broadly formed.
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Legal Terms – District Council
local authority that governs a district. A district council possesses specific exclusive obligations (e.g. housing and local planning) and shares additional responsibilities (e.g. recreation, town and country planning) with the county council to which the district is affiliated. Certain tasks, such as education and personal social services, are assigned to the district council in metropolitan districts, but they are allocated to the county council in non-metropolitan districts. In a district designated as a borough, the governing body is referred to as a borough council, and its leader is termed the mayor. In the 1990s, the Local Government Commission for England conducted a review of local authorities to construct unitary (single-tier) administrations. This resulted in broader Authorities for district councils, along with certain consolidations and boundary modifications
local authority that governs a district. A district council possesses specific exclusive obligations (e.g. housing and local planning) and shares additional responsibilities (e.g. recreation, town and country planning) with the county council to which the district is affiliated. Certain tasks, such as education and personal social services, are assigned to the district council in metropolitan districts, but they are allocated to the county council in non-metropolitan districts. In a district designated as a borough, the governing body is referred to as a borough council, and its leader is termed the mayor. In the 1990s, the Local Government Commission for England conducted a review of local authorities to construct unitary (single-tier) administrations. This resulted in broader Authorities for district councils, along with certain consolidations and boundary modifications
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Legal Terms - district judge
A judicial officer in the county courts, appointed by the Lord Chancellor, must be a solicitor or barrister with a minimum of five years' experience. The district judge oversees interim (interlocutory) and post-judgment phases of the case, and is also authorized to adjudicate civil matters within a statutory financial limit. They may also adjudicate family cases. District judges were previously referred to as district registrars. Part-time district judges are referred to as deputy district judges.
A judicial officer in the county courts, appointed by the Lord Chancellor, must be a solicitor or barrister with a minimum of five years' experience. The district judge oversees interim (interlocutory) and post-judgment phases of the case, and is also authorized to adjudicate civil matters within a statutory financial limit. They may also adjudicate family cases. District judges were previously referred to as district registrars. Part-time district judges are referred to as deputy district judges.
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Legal Terms - District Judge
(Magistrates' Court) A barrister or solicitor of not less than seven years’ standing, appointed by the Lord Chancellor to sit in a magistrates’ court on a full-time salaried basis: formerly (before August 2000) called a stipendiary magistrate. Metropolitan district judges preside over magistrates' courts in Inner London, while other magistrates operate in major provincial centers. They possess the authority to execute any action and to independently exercise any jurisdiction that can be performed or exercised by two justices of the peace, with the exception of the granting or transferring of any license. In other aspects, their powers are equivalent to those of other justices.
(Magistrates' Court) A barrister or solicitor of not less than seven years’ standing, appointed by the Lord Chancellor to sit in a magistrates’ court on a full-time salaried basis: formerly (before August 2000) called a stipendiary magistrate. Metropolitan district judges preside over magistrates' courts in Inner London, while other magistrates operate in major provincial centers. They possess the authority to execute any action and to independently exercise any jurisdiction that can be performed or exercised by two justices of the peace, with the exception of the granting or transferring of any license. In other aspects, their powers are equivalent to those of other justices.
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Legal Terms - district registry
A High Court office located outside London, with a role analogous to the Central Office. District registries exist in all principal towns and cities in England and Wales. Nonetheless, only a restricted number of district registries possess complete authority over procedures in the *Chancery Division.
A High Court office located outside London, with a role analogous to the Central Office. District registries exist in all principal towns and cities in England and Wales. Nonetheless, only a restricted number of district registries possess complete authority over procedures in the *Chancery Division.
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Legal Terms – distringas
Latin: that you distrain An obsolete writ instructing the sheriff to seize a person for a certain purpose. In contemporary practice, it has been supplanted by a *stop notice, occasionally referred to as a notice in lieu of distringas, which prohibits transactions in securities encumbered by a *charging order.
Latin: that you distrain An obsolete writ instructing the sheriff to seize a person for a certain purpose. In contemporary practice, it has been supplanted by a *stop notice, occasionally referred to as a notice in lieu of distringas, which prohibits transactions in securities encumbered by a *charging order.
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Legal Terms - disentailing deed
A deed used to bar (convert into a *fee simple) an *entailed interest.
A deed used to bar (convert into a *fee simple) an *entailed interest.
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Legal Terms – disentailment
The barring of an *entailed interest.
The barring of an *entailed interest.
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Legal Terms -disguised remuneration
Income tax is levied on income, along with certain capital receipts included within the income tax statute, such as payments received upon employment termination. To evade income tax, certain companies established agreements, such as providing an interest-free loan to an employee, without anticipating repayment from the employee. The Finance Act 2011 included laws to subject such arrangements to income tax. It was only with the Finance (No. 2) Act 2017 that the statute designated the arrangements it aimed to counter as providing the employee with “disguised remuneration.” “Disguised remuneration” is broadly defined as: “An arrangement [between A and B for which]...it is reasonable to assume that, fundamentally,...the arrangement serves (wholly or partially) as a means of providing...compensation or acknowledgment or loans related to A’s employment.” This concept has now been incorporated into Section 554A of the Income Tax (Earnings and Pensions) Act 2003.
The issue of whether it is plausible to assume that "disguised remuneration" has been received was examined in Benson v HMRC [2017] UKFTT 707 (TC).
Income tax is levied on income, along with certain capital receipts included within the income tax statute, such as payments received upon employment termination. To evade income tax, certain companies established agreements, such as providing an interest-free loan to an employee, without anticipating repayment from the employee. The Finance Act 2011 included laws to subject such arrangements to income tax. It was only with the Finance (No. 2) Act 2017 that the statute designated the arrangements it aimed to counter as providing the employee with “disguised remuneration.” “Disguised remuneration” is broadly defined as: “An arrangement [between A and B for which]...it is reasonable to assume that, fundamentally,...the arrangement serves (wholly or partially) as a means of providing...compensation or acknowledgment or loans related to A’s employment.” This concept has now been incorporated into Section 554A of the Income Tax (Earnings and Pensions) Act 2003.
The issue of whether it is plausible to assume that "disguised remuneration" has been received was examined in Benson v HMRC [2017] UKFTT 707 (TC).
