The Gazette 1995

GAZETTE

AUGUST/SEPTEMBER 1995

The Society strongly disapproves of apprentices carrying out duties in an unsupervised manner, possibly to the detriment of the clients concerned and to the reputation of the profession at large. Furthermore, without the requisite level o f supervision and training, the risks of claims against a firm's Professional Indemnity Insurance could be substantially increased. discourteous and unprofessional behaviour to send an apprentice to close a sale without the consent of one 's colleague on the other side of the transaction. This is the case even if the apprentice is in the latter stages o f his/her training. In addition members are also reminded that it constitutes

disablement through accident or sickness;

Information Returns - Personal Injury Awards

• a sick pay scheme/arrangement or Trust Deed which provides for continuing benefit (whether or not capable of being commuted) during sickness or disablement through accident or sickness;

The Finance Act 1992 Part 7 introduced automatic reporting requirements for traders, professionals, agents and other relevant persons as defined. A

• permanent health insurance policy taken out by an employee or self-

Statement of Practice was issued by the Revenue Commissioners on the 28 October 1992 (SP-IT1/1992). j Modifications of these reporting I requirements for Solicitors were i summarised in Tax Practice Notes volume 1 issue 2 (August ' 9 3 ). The Revenue Statement of Practice clarifies the reporting obligations I applying to the specified categories of persons. Under the category "persons in receipt of income belonging to others" it provides that Court awards/settlements need only be returned to the extent that they include ' specific non-capital amounts for loss ; of earnings or profits or other income j amounts. Following representations I from the Law Society, the Revenue Commissioners have since confirmed that in personal injury cases, where an award/settlement may include special damages for past or future loss of earnings, no information return is required save and except in the following circumstances. 1. Payments made without deduction of tax under a loss of profits/ emoluments insurance policy. For example: employer to provide against an obligation to pay compensation on sickness, injury or death of an employee or against the employer's general liability to pay compensation for occupational injuries; • a policy taken out by an employer which insures against loss of profits consequent upon the sickness, • accident or death of an employee; • a policy of insurance taken out by an employee or self-employed individual which provides for continuing benefit (whether or not capable of being commuted) during j | ' j • an insurance policy taken out by an i !

employed individual.

j

2. Structured settlements where the payments constitute annuities or annual payments which have not already been subjected to deduction of tax when received. This would only apply in the (rare) event that the Court, in lieu of a lump sum, awarded an annual income for life or during disability. 3. To the extent that there is yearly interest, interest on the award or part o f the award or interest for late Í payment (only the interest element need be returned and again only if it exceeds £ 5 0 0 . 00 in a year).

Education Committee Education AdvisoryCommittee Conveyancing Committee

Particulars Delivered (P.D.) Forms

I Taxation Committee

All solicitors' offices recently have been furnished by the Revenue Commissioners with a specimen supply of the new Particulars Delivered (P.D.) forms which will c ome into operation on 1 st September I 1995 together with a helpful explanatory memorandum. It is hoped that practitioners will find the new forms convenient and user-friendly. The Conveyancing Committee strongly recommends that henceforth practitioners themselves should not complete the new P.D. forms which, inter alia, require details of tax ! reference numbers of the parties involved in conveyancing transactions to be furnished but should ensure that the forms are signed by the parties themselves. It is the unanimous view o f the Committee that, in their own interests, practitioners should not assume the responsibility of completing the new Particulars Delivered Forms.

Discovery - Releasing Copy Documentation

Notwithstanding that the Rules of the j Superior Courts do not oblige solicitors to furnish copies of documents which are the subject of Discovery, it is recommended that solicitors, upon being requested to do so, should furnish copies of Discovery documentation on a reciprocal basis upon payment of a reasonable photocopying fee. There will be cases where this may not be possible because of the volume o f documentation involved. In those cases, this general recommendation will not apply but solicitors are urged i to deal with their colleagues in such ' cases on a reasonable basis. Where i documentation is being furnished, it J should be presented in chronological or some otherwise reasonable order.

Litigation Committee

Conveyancing Committee 232