What is a Pension Sharing Order?
Pension sharing orders are used to redistribute a couple’s pension provisions following a divorce or dissolution of a civil partnership. When a pension sharing order is made, the paying party’s pension provider is instructed to transfer a specified percentage of that pension into a pension in the name of the receiving party. The pension is effectively lifted out of the paying party’s pension and paid into a pension belonging to the receiving party so that it becomes their pension to do with as they please. Once implemented, the paying party cannot dictate to the receiving party what they should do with the pension. It is worth remembering however that when a pension is transferred under a pension sharing order, it must be paid into another pension and it cannot be released as cash. A pension sharing order is also not available to couples who have chosen to have a judicial separation rather than a divorce/dissolution.
Related FAQs
Yes. The Government continues to support the construction industry and the Prime Minister’s recent statement supports the return to work of those who cannot work from home, if they can work safely. This has seen an immediate surge in industry workforce returning to work. Banks and storage and distribution businesses are permitted to operate as essential businesses.
Solicitors and estate agents may still not permit members of the public to enter their premises, but can operate remotely via website, phone, email and other methods, as normal. The Government’s latest guidance published on 13 May now advises that moving house need not be postponed, provided social distancing and safe ways of working can be adopted. Restrictions remain for those who are infected or who are self-isolating or vulnerable, and they should not move house or accept visitors.
Because they all have devolved governments, when there are changes to spending levels in England, the Government makes adjustments to the amount of public expenditure allotted to Scotland, Wales and Northern Ireland. In this case £60 million will be made available for all of the devolved administrations as a result of the £370 million funding allocated to charities in England. This is broken down as follows:
- £30 million for the Scottish Government
- £20 million for Welsh Government
- £10 million for the Northern Ireland Executive
There may be further allocations, dependent on the final projects funded, through the £360 million direct grant pot.
In part in response to the Covid-19 pandemic, legislation was passed by the government earlier this year which sought to assist companies to trade through the current economic climate. Included within the measures is a degree of protection from compulsory winding up.
The Corporate Insolvency and Governance Act 2020 (The Act), was laid before parliament on 20 May, and became law on 26 June. It is important creditors are aware of what changes have been implemented and the potential and impact which it may have upon debt recovery action you may be considering or have already commenced.
The main part of the Act affecting creditors is the temporary restriction on presentation of winding up petitions and the factors that the Court has to take into account when deciding whether to wind up a company.
On Thursday 24 September 2020 the government passed a further statutory instrument which extended the operation of these restrictions. As a result, the measures which were due to expire on Wednesday 30 September 2020 have now been extended until 31 December 2020.
A key point to note is that the Act has retrospective effect so any pending petitions presented after 27 April will be affected, along with any winding up orders made after that date.
The Act has introduced the following restrictions:
- A petition cannot be presented by a creditor during the period of 27 April 2020 and 31 December 2020 unless the creditor has reasonable grounds to believe that (a) coronavirus has not had a financial effect on the debtor, or (b) the debtor would have been unable to pay its debts even if coronavirus had not had a financial effect on the debtor;
- A petition cannot be presented after 27 April 2020 if it is based on a unsatisfied statutory demand served between 1 March 2020 until 31 December 2020;
- When deciding whether to make a winding up order the Court will need to be satisfied that the grounds giving rise to the petition would have arisen even if Covid-19 did not have a financial effect on the debtor;
- All winding up orders made between the 27 April and 31 December will automatically be void (that is, of no legal effect) unless the Court would have made the winding up order if the new law was in force at the time the order was made.
If you are eligible you will get a taxable grant of 80% of the average profits from the following tax years (where applicable):
2016-2017
2017-2018
2018-2019
HMRC will add the total profit in each of the three tax years (if applicable). This will then determine the monthly payment, subject to the cap of £2500.
See above FAQ about whether you can demand that your employee has the vaccine.
Dismissal for failing to follow a reasonable instruction would be a possibility but it should be the last resort.
First you will need to be able to show that you have reasonable grounds for insisting that they have the vaccine. You will then need to demonstrate that you have taken into consideration the reasons why the employee has refused and why they are not considered reasonable. Before taking a decision to dismiss you should look at alternatives such as other duties/other roles.