Creating a lifestyle property
As the effects of COVID-19 continue to be felt, luxury homes are increasingly being adapted to accommodate our new lives but the need for relevant planning permissions must not be overlooked.
Read moreAND NOW SHOW YOUR WORKINGS: An assessment of the case of Altera Voyageur Production Limited v Premier Oil E&P UK Ltd [2020] EWHC 1891 (Comm)
The case of Altera Voyageur tells us that although getting the drafting 100% accurate should still be the quintessential goal, a worked example may help inform the parties (not to mention the Courts) of the intention of those involved.
Read moreCOVID-19 and SDLT – it may not all be doom and gloom
Just how much SDLT might you pay on your dream house in the country from which to shelter from COVID-lockdown 3, 4 or n-squared?
Read moreCommercial rent recovery restrictions extended to 31 March 2021 and review of commercial landlord and tenant legislation to be launched
Further to our update in September, last week the government announced that it will be further extending the forfeiture moratorium deadline, as well as the timeframe on restrictions on a landlord’s right to exercise CRAR and issue winding up petitions.
Read moreAs more people escape to the country, will there be an increase in the purchase of luxury aparthotel rooms?
If escaping to the country by the relocation of a family home or main residence is taken as a given during these turbulent times, will we see a rise in demand for serviced apartments and specifically, luxury aparthotel rooms in London and the UK’s other principal cities, in the immediate to short-term?
Read moreProperty trends post-COVID-19
Although the Oxford Covid vaccine currently looks promising, it seems as though the Covid-19 pandemic will have long lasting implications for the way we work and live. As a result, the housing market has seen a shift of emphasis towards additional living space requirements and moves out of central London.
Read moreCrown preference: Back to the Future? (not quite)
It’s been a while coming but Crown preference made its return on 1 December 2020, changing the order in which creditors will be paid in an insolvency situation. For almost 20 years, HMRC hasn’t received any special treatment when it comes to insolvency pay outs but is the change really that radical or have we just picked up where we left off?
Read morePlanning Update: Does Hillside spell the end of the drop-in application?
The recent Court of Appeal case of Hillside Parks Ltd v Snowdonia National Park Authority [2020] EWCA Civ 1440 has cast a question mark over the lawfulness of drop-in planning applications.
Read moreShare registers are vital for title – but what if you find a mistake?
Share registers are truly vital for title - and are used and scrutinised at key points in your business’ life cycle. Basic mistakes may have an easy fix – but serious mistakes can be expensive to correct and require court action, as was seen in a case earlier this year (Boston Trust Company Ltd v Szerelmey Ltd [2020] EWHC 1352 (Ch)).
Read moreFamily governance – enforceability and sustainability in private wealth structures
Any legal structure incorporating family governance principles will be a hybrid of elements from corporate governance but with flexibility that is not possible in a truly commercial context; rigid structures and families rarely go together. The most successful governance structures have a level of transparency and include the wider family members within a framework of tried and tested corporate governance mechanisms.
Read moreGovernment Consults on Permitted Development Rights: Class E to Class C3
Following the numerous legislative changes to the planning system this year, and the widely talked about White Paper 'Planning for the Future', the Government has launched a consultation on various revisions to the permitted development rights regime, with a particular emphasis on delivering new housing and supporting public service infrastructure through the planning system.
Read moreDemystifying separation and divorce, present and future
In our brand new podcast, 'Breaking Good', hosted by comedian Marcus Brigstocke, the Forsters Family team looks at 'rethinking separation and divorce' and demystifying aspects of the process in an informative and entertaining way.
Read moreThe next chapter in the COVID-19 business interruption insurance saga
The fate of many businesses will be decided over the coming weeks as the Supreme Court considers whether business interruption insurance policies must pay out in respect of losses suffered by businesses as a result of the first lockdown.
Read moreJudicial Review challenge to the recent permitted development right and use class changes dismissed by the High Court
On 17 November 2020, Lord Justice Lewis and Mr Justice Holgate dismissed the Judicial Review challenge to the government’s recent changes to permitted development rights and use classes on all grounds.
Read moreBrexit and availability of the Enterprise Management Incentive Scheme
In a move that will no doubt be of benefit to many businesses, the Government has recently confirmed that following the end of the Brexit transition period (midnight on 31 December 2020) the UK will continue to make the EMI available to qualifying small- and medium-sized enterprises.
Read moreEmployment issues on corporate transactions
With corporate activity starting to increase, we thought it would be useful to consider some of the key employment aspects that can arise on a corporate transaction.
Read moreCoronavirus Job Retention Scheme Extended
Employment Senior Associate, Joe Beeston, provides a comprehensive overview of the Coronavirus Job Retention Scheme's extension and what it means for employers and employees.
Read moreCall of Duty: ICSA guidance on directors’ duties
Directors of English companies are subject to a myriad of duties with which they must comply. What practical steps can directors, both individually and collectively, take to ensure their compliance? New guidance aims to help with that question.
Read moreDo you know which type of business entity you’re using?
Setting up a new business is a stressful time and deciding on the correct structure may not be at the top of your list. But, a recent judgment of the High Court serves as a reminder of why getting your business structure right at the outset is critical.
Read moreGoodwill - what's in a word?
It's easy with hindsight to see how a word with more than one possible interpretation may result in a dispute. A recent Court of Appeal decision serves as a helpful reminder to ensure that your contracts are clear if you want to be certain that a particular interpretation will be applied.
Read moreGovernment-backed loan schemes – recent updates
The Winter Economy Plan, launched by the Government on 24 September 2020, contains several measures designed to support businesses throughout the current coronavirus pandemic, including the extension of the Government-backed loan schemes.
Read moreDutch STAK Foundations – An Overview
The Dutch STAK foundation can be used for a variety of both charitable and commercial purposes, including by family offices to assist with estate planning and asset protection. Although use of a STAK foundation in any structure will necessitate the obtaining of Dutch legal advice and we strongly advise taking Dutch legal advice if you are considering this as an option, this summary explains their key characteristics.
Read moreSustainability in the charitable sector – is social investment the answer?
The issue of sustainability for the charitable sector takes many guises, including in the way in which charities invest funds, but also in the activities which charities undertake and, by implication, fund. Sustainability as a theme can be observed through a number of different lenses and I deal below with the investment of funds and charitable activities in this context.
Read moreClaim notifications: Why less is more
Recent case law has shown that the devil is in the detail when notifying a party to a share purchase agreement of a potential claim under that agreement. It’s long been a principle of English law that a potential defendant in litigation has the right to some certainty, without the spectre of litigation looming indefinitely in respect of historic events or disputes.
Read moreAnti-Money Laundering Rules: Impact on the Art Market
The EU Fifth Anti-Money Laundering Directive (5AMLD) was enacted into UK law with effect from 10 January 2020. It requires art businesses to put in place systems intended to prevent their potential use in money laundering or for various other offences (in addition to those systems already required under the Proceeds of Crime Act 2002).
Read moreShareholders beware: Ostensible authority and the Duomatic principle
A recent BVI case has shown that the Duomatic principle, which allows shareholders to informally approve a company’s actions provided they act unanimously, can apply even where actual authority has not been granted and where the ensuing action by the company is against the best interests of the shareholders.
Read moreParental Contact: Self-Isolation – a reasonable excuse to not comply with your Child Arrangements Order
There are, sadly, huge numbers of separated parents whose children are the subject of a 'Child Arrangements Order', being an order of the Court specifying with whom the child lives or spends time. The Covid-19 pandemic has exacerbated tensions amongst parents who must abide by such an order.
Read moreImplementation of the new TRS rules
The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 were laid before Parliament on 15 September 2020. Among other things, this statutory instrument (SI) implements the new Trust Registration Service (TRS) rules, as extended by the EU's Fifth Money Laundering Directive, which came into force on 10 January 2020. It is expected that the SI will be implemented as drafted.
Read moreApproaches to divorce and separation during COVID-19
We understand that dealing with separation and divorce can be highly sensitive and emotion-charged at the best of times. The COVID-19 pandemic may have added to your concerns, with additional complications to your personal circumstances or you may have additional questions on how best to start the divorce and separation process. The Forsters Family team are on hand to guide you through the best options available to you in the current circumstances and can do so in the way that is comfortable for you.
Read moreLawyers drafting for sustainability – The Chancery Lane Project
Laura Williamson, Senior Associate in our Commercial Real Estate team, looks at The Chancery Lane Project - a pro bono collective effort by lawyers to develop new drafting for contracts and laws to help fight climate change. Forsters are supporting the project.
Read moreStudent Housing Conference 2020 – 5 key takeaways
On Tuesday 22 September 2020 Commercial Real Estate Senior Associate, Anthony Goodmaker attended the virtual Student Housing Conference 2020, together with Partner, Ronan Ledwidge. The overall message from the many speakers was one of positivity and optimism – Anthony highlights his 5 takeaways from the event.
Read moreCOVID-19 and business interruption insurance – can business owners stop losing sleep?
Last week, the High Court handed down its judgment in the much publicised COVID-19 business interruption insurance test case, which was brought by the Financial Conduct Authority (FCA) on behalf of policyholders, the majority of which were small- and medium-sized enterprises. While the ruling has been hailed a success for policyholders, the extent to which insurers will have to pay out under such policies is still an unknown and the devil will certainly be in the detail.
Read moreFinCEN files: A Failure of the System and how it might be fixed?
Dispute Resolution Senior Associate, Caroline Harbord discusses the implications of the emerging FinCEN scandal. What is most startling about the scandal is that over 2,000 suspicious activity reports (“SARs”) were filed by banks (this number is apparently only the tip of the iceberg) whilst the practices forming the subject matter of the SARS were still permitted to continue.
Read moreRestrictions on forfeiture of business tenancies and CRAR extended to 31 December 2020
The Government has announced that the current legislation which prevent landlords from forfeiting commercial leases, or levying execution on the tenant's goods by way of CRAR to recover outstanding rent, will be extended from 30 September 2020 until 31 December 2020 to provide further protection for tenants who have not paid their rents or other sums due under their leases.
Read moreThe New World: Dry Powder and EBITDAC
How do you value a company that has seen its fortunes change significantly – for better or worse – as a result of the coronavirus crisis? Much has been written about this and it has even spawned the new (and at first widely disparaged) acronym “EBITDAC”, the C of course standing for coronavirus.
Read moreNews Blast – Residential Possessions (August)
We reported in June about changes to the residential possession procedure as a result of the Covid-19 pandemic. Last week the government implemented further changes and Property Litigation Associate, Sarah Heatley, takes a look at the current rules.
Read moreDistributions: At what tax price?
Many businesses are currently looking at their profitable (and not-so-profitable) parts and wondering which could be bundled up and sold. A precursor to any such sale may well be a preliminary intra-group reorganisation. Understanding the tax (and corporate law) aspects prior to making any decisions about a reorganisation is key.
Read moreVideo-witnessed wills: new legislation
The Government has announced that it will introduce a temporary change in the law to allow wills to be witnessed using video technology during the coronavirus pandemic. It is set to come into force in September, but will apply retrospectively to wills executed from 31 January 2020. This article outlines the relevant law and the planned changes, along with some high-level guidance for those who may have to rely on the new rules in the absence of being able to execute a will in the normal way.
Read moreNew online verification service for lasting powers of attorney
On 17 July 2020, the Office of the Public Guardian (the "OPG") launched its online service "Use a lasting power of attorney". This service enables attorneys to prove their status to service providers, such as banks or health care providers, by providing them with online access to a summary of the relevant lasting power of attorney (LPA).
Read moreDirectors' duties: What do they mean for LLP members?
The recent case of Re A&C Restoration LLP (Manolete Partners plc v Riches) [2020] EWHC 1404 (Ch) has reconfirmed that directors’ duties can be applied to designated members of LLPs, and also serves as a useful reminder of how these duties are altered in the event of insolvency.
Read moreGovernment White Paper: Planning for the Future – Beautiful and Sustainable Places
This article focuses on some of the key proposals within Planning for Beautiful and Sustainable Places.
Read moreGovernment White Paper: Planning for the Future – Infrastructure
The Government has published its White Paper setting out far reaching proposals to reform the planning system with the aim to simplify, speed up and create more certainty in the planning process. In what is arguably one of the most radical proposals the White Paper puts forward, there is proposed a new 'Infrastructure Levy,' to replace both the existing planning obligations under s106 and Community Infrastructure Levy.
Read moreA Guide to Buying Residential Property in England & Wales
Buying a residential property is usually one of the most significant investments a person makes in their lifetime and is generally viewed as a safe long term investment. An understanding of the process can help facilitate a smooth transaction and keep costs down.
Read moreUndertakings in financial distress to benefit from Coronavirus Business Interruption Loan Scheme
On 30 July 2020, the UK Government announced changes to the government-backed Coronavirus Business Interruption Loan Scheme (CBILS) following the European Commission’s amendments to the "Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak" (EU Temporary Framework). These changes effectively mean that more SMEs will be able to borrow up to £5 million under the CBILS than previously.
Read moreCan rent concessions result in a VATable supply?
A question which has been considered by many landlords, tenants and advisors over the past few months but for which we now have the answer courtesy of HMRC.
Read moreChanges to the Use Classes Order in England
The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020 (SI 2020 No.757) were introduced by the government on 20 July, and take effect on 1 September 2020. The new Regulations make radical changes to the 1987 Use Classes Order. These changes sit alongside the recent additions to permitted development rights, forming part of the government’s “Project Speed”, with the aim being to support the high street revival and allow greater flexibility to change uses within town centres without the need for express planning permission.
Read moreGovernment Introduces New Permitted Development Rights
As the independent review into residential properties built under existing permitted development rights is published, the government has introduced three new statutory instruments (coming into effect in September 2020) further amending both permitted development rights and the use class system, to 'deliver much-needed new homes and revitalise town centres.'
Read moreGovernment response to the EU 5th Money Laundering Directive and Trust Registration Service consultation welcomed
The Government has now published its response to the technical consultation on the implementation of the Fifth Money Laundering Directive (5MLD) and the Trust Registration Service (TRS). The TRS consultation ran from 24 January until 21 February 2020 and responses were received from a range of stakeholders including Forsters LLP.
Read moreExercising the Right to Manage, The Law Commission's final report
In this article we consider the proposed reforms to the right to manage (“RTM”) regime which is a right for leaseholders to take over the management of their building without buying the freehold.
Read moreReform to leasehold Enfranchisement, The Law Commission’s final report
The Law Commission has today published its three final reports on leasehold reform and the future of home ownership. Their recommendations about leasehold enfranchisement and the right to manage are aimed at improving the existing system of leasehold ownership, whilst the third report about commonhold seeks to create a viable alternative to leasehold ownership, with a view to its widespread use in the future.
Read moreHome Ownership Reform
The Law Commission has published its three key proposals for home ownership reform today with a view to re-invigorating the largely ignored form of commonhold ownership. The three reports which deal with enfranchisement, right to manage and commonhold tie in with the Government’s aim to make home ownership in the UK fairer and transparent.
Read moreTemporary cut to VAT – what impact will it have on the Hospitality sector?
A much needed boost to the hospitality sector was announced by the Chancellor Rishi Sunak as part of his mini-budget on 8 July 2020.
Read moreCommonhold, The Law Commission's final report
Arguably the greatest change suggested by the Law Commission is their recommendation that commonhold become the preferred alternative to leasehold ownership. This would be a huge change to the status-quo given that many practitioners will never have come across commonhold.
Read moreUpdate for rural estates on policy developments
Like all businesses, rural estates and property owners are suffering from the coronavirus-induced economic slowdown. They should, therefore, continue to make the most of the economic support available from the government.
Read moreLifting the lockdown: what employers should be thinking about
The pandemic has brought about numerous challenges for employers and with the continued easing of lockdown measures, it is unlikely that these will disappear anytime soon. As businesses re-open and staff begin to return from furlough leave, employers will need to consider various issues. Employment Senior Associate, Joe Beeston's article considers some of the key employment law and health and safety issues in this area.
Read moreForsters and UK Israel Business host Real Estate Breakfast event on investment, development and financing
On 7 July Forsters and UK Israel Business hosted an online Real Estate Breakfast event to discuss the impact of COVID-19 on the commercial and residential UK markets, with particular regard to investments, development and financing.
Read moreDriving Change Collectively: The Beginning of Sustainable Neighbourhoods – 5 takeaways
On Thursday 9 July 2020, I attended Bisnow’s webinar Driving Change Collectively: The Beginning of Sustainable Neighbourhoods, where the discussion centred around how landlords and tenants can work together to create a more sustainable built environment.
Read moreCorporate Insolvency and Governance Act 2020: Considerations for lenders and borrowers
The widely anticipated Corporate Insolvency and Governance Act 2020 (“CIGA”), having been rushed through Parliament, came into force on 26 June 2020, with certain temporary provisions having retrospective effect (as outlined below). With provisions spanning both commercial and insolvency issues, Banking and Finance Partner, Rowena Marshall, summarises the key insolvency-related points of CIGA and explains their potential impact on lenders and borrowers.
Read moreThe Corporate Insolvency and Governance Act 2020 – what does it mean for businesses?
The long awaited Corporate Insolvency and Governance Act 2020 (“CIGA”) is now in force, having received Royal Assent on 25 June 2020. It introduces certain measures (some of a temporary and some of a permanent nature) to assist businesses in navigating the current landscape. In this note, Naomi Trinh considers the commercial impact of some of its provisions.
Read moreChange of business activity? – HMRC guidance
As a result of COVID-19, many businesses have been forced to stop trading during the lockdown or have changed the nature of their activities. Aside from the commercial aspects of a change in business activity, various tax implications may also arise, including the business’ ability to carry forward losses.
Read moreProject Speed: “to build better; to build greener; to build faster”
Giving a speech on 30 June 2020, Boris Johnson declared the UK government’s intention to deliver “the most radical reforms of our planning system since the end of the second world war” as it attempts to offset the economic impact of the coronavirus pandemic.
Read moreThe Supreme Court dismisses Charles Villiers’ appeal
Family Partner, Simon Blain's comments on the case were quoted in Eprivateclient's article: Supreme Court sides with wife in Villiers divorce battle meaning maintenance order will be granted in England instead of Scotland and Solicitor's Journal.
Read moreWhen is a listed building a 'building'?
The recent Supreme Court case of Dill v Secretary of State provides an important decision as to whether a Planning Inspector of a listed building enforcement case can decide whether an item which has been expressly included on the statutory list is in fact a 'building' and the criteria for determining whether an item listed in its own right does constitute a building for these purposes.
Read moreLogistics – the future is sustainable
The logistics sector could be forgiven for becoming complacent due to the seemingly never-ending demand for prime warehouse space (by way of an example and as reported in the property press, Amazon has already acquired more warehouse space in the UK in 2020 than it did in the entirety of 2019, and is on course to take more than the 5 million sq ft of space it did in 2018).
Read moreWill a rise in DIY wills lead to increase in inheritance disputes? Roberta Harvey and Fiona Smith write for Eprivateclient
Head of Contentious Trusts and Estates, Roberta Harvey, and Private Client Partner, Fiona Smith write for ePrivateClient on DIY wills.
Read morePlanning Permissions Extended until 1 April 2021
The government has announced that all planning permissions due to lapse through lack of implementation, as a result of the COVID-19 pandemic and lockdown measures, will be automatically extended.
Read moreDistributions: At what price?
With businesses and companies trying to return to normal economic life and activity, I consider in this piece some matters that companies may be overlooking when making distributions and in their intra-group transactions.
Read moreCovid-19: whistle-blowing and health and safety concerns
The pandemic has brought about numerous challenges for employers, which will continue as lock-down measures start to ease. As businesses re-open and staff start to return from furlough leave, employers will need to ensure that they have appropriate health and safety procedures in place having regard to the ever changing government guidance.
Read moreCovid-19 and commercial property rent recovery: new code of practice and restrictions on remedies to be extended
On 19 June 2020, the Government published the Code of Practice for commercial property relationships during the COVID-19 pandemic (" the Code"). The Code was drafted by a Working Party comprising landlord and tenant representative bodies.
Read moreGovernment-Backed Loan Schemes
As we move into a period where restrictions are eased and businesses and workplaces are reopening, and furloughing will start coming down, many business owners and their employees will be navigating the challenges of returning to work and the business decisions and costs that go alongside that. We have set out, below, a summary of the government-backed loan schemes available to businesses to support industry as we collectively work towards a "new normal".
Read moreUPDATE – changes to the Coronavirus Job Retention Scheme
The government has announced a number of changes to the Coronavirus Job Retention Scheme (the “Scheme”). The extension to the Scheme has been welcomed by employers, but the practicalities of operating it are becoming increasingly complex.
Read moreDoing the Deal - What might be different now?
As the deal market starts to pick up and buyers, sellers, investors and advisors engage in discussions for new deals, what might be different now in negotiating your M&A deal?
Read moreThe Future of the Family Office and the Family Office Advisor
The traditional family office has been focussed on wealth management, family governance and philanthropy. The family office of the future will serve single or multiple families and, alongside exercising the traditional role of wealth preservation, will continue to expand its reach into ever broader areas.
Read moreA quick guide to the rent collection minefield
With substantial sums still outstanding for the March Quarter, landlords face an even tougher battle collecting rents for the coming June Quarter. This Guide looks at the options likely to be available in light of Government action to date and future likely restrictions.
Read moreNews Blast – Residential Possessions (June)
We have already reported about the extension implemented by the Coronavirus Act 2020 to the length of notice that most possession notices and notices to quit must give before possession proceedings may be started.
Read morePost COVID-19 Deal Landscape Changes: Starting an M&A Deal?
While the deal market may have slowed, business leaders, commentators, business owners and investors expect that deals will start again (albeit perhaps not in earnest until Q4 this year) and indeed need to start again as M&A is a powerful driver of the economy and innovation.
Read moreOff the Hook?
Banking and Finance Partner, Simon Collins, discusses the recent case of Borwick Development Solutions Ltd v Clear Water Fisheries Ltd [2020] EWCA Civ 578.
Read moreHMRC nudge letters
The implementation of the Common Reporting Standard (CRS) and other data exchange regimes means that HMRC have received, and will continue to receive, substantial information about the global tax affairs of persons with connections to the UK.
Read moreWhat next re commercial rent collection during COVID-19?
Following the publication of the proposed Corporate Insolvency & Governance Bill ("the Bill") on 20 May 2020, the Government then issued a Press Release on 29 May 2020 announcing its intention to introduce a Code of Practice by 24 June 2020 to provide landlords and high street business tenants with clarity and reassurance over rent payments.
Read moreFamily Governance in the Digital Age
Our Private Client solicitors provide a practical checklist for the post-Covid world.
Read moreGovernance, purpose and value for our times?
Even before lockdown, advisers were helping companies navigate the Wates Corporate Governance Principles and many companies had received B Corp certification worldwide as governance, purpose and values rose to the top of the business agenda and debate.
Read moreThe Countryside Strikes Back – crucial considerations for moving to the country
With the bright lights of city living suddenly dimmed, the fresh air and open spaces of the countryside have never felt more attractive. Private Client Partner, Henry Cecil and Associate, Henry Vane discuss crucial considerations for moving to the country.
Read moreLooking to the Future - Business Continuity
Now, more than ever, companies need to consider and put in place a business continuity strategy. Leaving a business rudderless or having to deal with complex continuity issues will, at best, take up management time and cause distress at a time when emotions may be running high and at worst, could result in the failure of the business.
Read moreThe reopening of the retail sector: considerations for landlords and tenants
In an effort to mitigate the economic impact of the Covid- 19 pandemic while still seeking to limit the spread of the virus, the Government has announced that most non- essential shops, department stores and shopping centres will be allowed to reopen in June 2020.
Read moreWhat is a landlord now to do to collect rent from a solvent tenant?
The Corporate Insolvency & Governance Bill ("the Bill") was laid before Parliament on 20 May 2020. It follows on from the Government's Press Release of 23 April 2020 and it is due to be discussed next in the House of Commons on 3 June 2020.
Read moreKeep Farm and Stay Alert – what the latest lockdown guidance means for rural estates
The UK has moved to a new lockdown phase following Boris Johnson's statement on 10 May and subsequent government guidance. We summarise the key points for rural estates.
Read moreUpdate on the Trust Registration Service
The EU Fifth Anti-Money Laundering Directive (5AMLD) has been enacted into UK law with effect from 10 January 2020, with the exception of proposed changes to the Trust Registration Service (TRS).
Read moreCOVID-19: Employment Law Update
It’s hard to keep up: barely a day goes by without another change to government guidance or policy being made. This article summarises the recent key changes which employers should be aware of.
Read moreCOVID-19 Planning Update – temporary amendments to the planning application process introduced
Good news for those looking to progress with planning, listed building and environmental impact applications in the lockdown period, as the government announces temporary regulations to enable publicity requirements to be achieved online with an emphasis on flexibility.
Read moreUpdate on house moves: Guidance published by the Ministry of Housing, Communities and Local Government
Previously, moving house was only permitted where "reasonably necessary" and parties were strongly encouraged to delay completion where the property had not been vacant. This position has been relaxed and transactions can broadly go ahead as normal, unless parties are self-isolating or symptomatic.
Read moreThe Rise of Public Works Loan Board Funding and its Future in a Post-COVID Landscape
The increase in the use of loans issued by the Public Works Loan Board (PWLB) by local authorities in recent years has been well documented, with Councils borrowing billions of pounds at low rates of interest to fund investment in commercial real estate across the UK.
Read moreThe End of Leaseholder Alterations?: The Supreme Court Decision in Duval
Those in the leasehold world have been waiting with bated breath for the Supreme Court's Decision in Duval v 11-13 Randolph Crescent Ltd. [2020] UKSC 18 (6 May 2020) ("Duval") to provide guidance on a landlord's liability when granting consent to leaseholders to carry out structural alterations.
Read moreHR data during the pandemic
Given the unprecedented events of recent weeks, it is perhaps fair to say that data law compliance has not been at the forefront of most employers’ minds.
Read moreCOVID-19 and the Hotel Industry
The ongoing COVID-19 pandemic continues to have a devastating effect on the hotel industry, with some commentators suggesting that it could take upwards of five years for the sector to fully recover. What are the key legal issues hoteliers should consider during these uncertain times?
Read moreTrustees and investing during the COVID-19 crisis
Given the numerous obligations and liabilities heaped upon trustees, many will be wondering what they should be doing during this Covid-19 crisis whilst it is not business as usual.
Read moreLifting the lockdown: what employers should be thinking about
Whilst practices and procedures which will need to be adopted will be driven by government guidance (initial drafts of which have recently been circulated) and it is clear that restrictions will be lifted gradually and not anytime soon, it is still worthwhile for employers to start thinking about the practicalities of life after ‘lock-down’ and how they will bring staff back to work.
Read moreSchoolwork, Cash in the Attic and Tax Liabilities – How Working From Home Could Result in Unintended Tax Liabilities
Many of us are privileged and are able to work from home during the current crisis. However, there are a number of fiscal consequences and your tax return may look a little different next time as a result of this prolonged period of WFH.
Read moreGoing Green: Sustainability linked and green loans and their application in the real estate sector
The government has committed to achieving net zero carbon emissions by 2050 and has made it clear that the financial services play a key role in supporting this by financing the 'greening' of the economy.
Read moreThe hotel industry: responding and adapting to unprecedented times
The coronavirus pandemic has, without a doubt, reshaped our personal and professional lives. All industries and sectors have been affected in one way or another and are responding in different ways. Some areas of the hotel industry have taken steps which no-one could have foreseen just a few months ago.
Read moreArt in the time of Coronavirus: Employment considerations for the art market
The art industry, like most other industries, is not immune to the effects of the coronavirus. It is important for galleries, dealers, museums, auction houses, and other art businesses to consider the employment issues arising as a result of the pandemic. This is no easy task, especially when guidance and regulations are being introduced and changed at unprecedented speed.
Read moreArt in the time of Coronavirus: HMRC relaxes the public access requirements for Conditional Exemption
HM Revenue & Customs (HMRC) has temporarily relaxed the public access requirement for Conditional Exemption, and urged the owners of heritage property to follow the restrictions now imposed by the UK government on business operation and public movement due to the Coronavirus outbreak.
Read moreHow can private companies continue to function in a pandemic?
With a little thought and willingness to try new processes, private companies can continue to function in a lockdown situation.
Read moreGovernment announces temporary ban on Statutory Demands and CRAR
Landlords seeking to recover rent from their commercial tenants were dealt a further blow on 23 April 2020 when the Government announced further measures to protect commercial tenants during the lockdown period.
Read moreCoronavirus Job Retention Scheme
The guidance for employers and employees relating to the Coronavirus Job Retention Scheme (the ‘Scheme’) has now had several iterations. The Chancellor has issued the Treasury Direction (the ‘Direction’), which sets out the Scheme’s formal legal framework, and announced an extension to the Scheme until the end of June 2020. The HMRC on-line portal for making claims is now open. With so many moving parts, we thought it would be useful to answer some frequently asked questions in relation to the Scheme.
Read moreArt in the time of Coronavirus: Disputes in the Art World
With one third of the global population living under lockdown, we are witnessing the dawn of a new, and hopefully temporary, normal. We are all having to adapt to significant changes to our daily lives, social interaction and the operation of our businesses.
Read moreCOVID-19: Relaxation of the Statutory Residence Test for individuals carrying out coronavirus related activities
In an effort to attract and retain those with expertise in fields that may help in fighting COVID-19 in the UK, the Chancellor has announced that the statutory residence test (SRT) will be relaxed for certain individuals for the period 1 March to 1 June (although the duration of the concessionary period will be kept under review).
Read moreThe Government-backed SME funding train is finally rolling into town…
There are currently three government-backed funding schemes available to businesses:
Read moreDispute resolution in the age of isolation – An Update
Since 26 March 2020 when we last surveyed how mediation, arbitration and litigation were being conducted in the current circumstances, matters have evolved at a rapid pace, particularly in the English court system. We have seen unprecedented use of technology as the courts focus on getting business done as usual so far as possible.
Read moreArt in the time of Coronavirus: Landlord and tenant considerations for the art market
According to the British Art Market Federation, the UK arts and antiques market is comprised of nearly 8,000 businesses, providing direct employment for over 41,000 people. It is the third largest in the world with over a 20% global share and, therefore, a significant sector in the UK economy.
Read moreCOVID-19: HMRC guidance on Company Residence, Permanent Establishment and related issues regarding the Economic Substance Test
Her Majesty's Revenue and Customs (HMRC) published guidance on 9 April on the implications of COVID-19-related travel restrictions on a company's residence status. Such travel restrictions may force directors or employees to be present in the UK when they would not be here under normal circumstances. This situation raises concerns as to whether a foreign company may become resident for tax purposes in the UK because the central management and control (CMC) of the company might be considered to have moved here.
Read moreA practical guide for landlords on the impact of a tenant entering liquidation
Despite stimulus packages from the Government, it unfortunately seems inevitable that a large number of businesses will enter liquidation in the short and medium term as the economic impact of the COVID-19 pandemic is felt in nearly every sector.
Read moreThink carefully before putting pen to paper (or, in this case, fingers to keypad…)
In the recent case of Athena Brands Ltd v Superdrug Stores Plc [2019] EWHC 3503 (Comm) the courts held that a binding contract was made by a simple exchange of emails between parties. The case highlights the importance of businesses following internal policies when discussing and negotiating purchase agreements and being very careful when negotiating and discussing potential orders by email.
Read moreThe transition to SONIA goes marching on
The discussions regarding the replacement of the London Interbank Offered Rate (LIBOR) by the Sterling Overnight Index Average (SONIA) have been overshadowed somewhat by the COVID-19 pandemic, but despite the current challenging environment the Financial Conduct Authority (FCA) has emphasised that it is still focused on the change.
Read moreNote for landlords of commercial properties- particular points re rent recovery from tenants in current market conditions
Many tenants (particular those in the retail and hospitality sectors- but also a considerable number of office and industrial tenants) are not paying their rent in full or, in many cases, at all. Some of these tenants are major companies (such as JD Sports and WH Smith) who one would think could afford to pay. According to press reports, only 48% of commercial rents had been paid for the March 2020 quarter by the start of April.
Read moreBuyer Beware: Counterparties and Covenant Strength
In times of growing economic uncertainty business owners will face numerous commercial and strategic challenges. Ultimately, this may result in corporate restructuring or asset and business sales in order to manage liquidity or in more serious cases, protect parties from insolvency.
Read moreCOVID-19: How to make a will during this period of lockdown, social distancing and self-isolation
The social restrictions imposed as a result of the COVID-19 pandemic have complicated tasks that would have been simple only a few weeks ago. One such task is the making of a will, which must now be done in a way that takes account of the need for social distancing while also complying with the law.
Read moreArt in the time of Coronavirus: Support for Charitable Arts Organisations
Charitable arts organisations have been hugely affected by the coronavirus pandemic. All of the large museums and galleries have had to cancel exhibitions and events, with enormous revenue consequences. Many charities delivering arts programmes (for example, in prisons, care homes, and for vulnerable children) have also had to cancel these because of social distancing rules.
Read moreKeep farm and soldier on
The coronavirus pandemic is first and foremost a human tragedy and the first call on our time and energy is the welfare of friends and relatives. But we must confront the economic implications as well. For rural estates, the connection between the human and the economic is close given the central role they play in binding together communities and looking after the physical landscape.
Read moreAre EPC requirements immune to the COVID-19 lockdown?
Whilst we are in lockdown is there any easing of the EPC requirements?
Read moreCurrent issues for charitable grant makers
The coronavirus pandemic has increased pressures on the charitable sector in an unprecedented fashion. Many operational charities are facing a perfect storm because their usual sources of fundraising (whether through public donations or fundraising events) have been depleted in circumstances where beneficiary needs have grown exponentially.
Read moreAnnual leave: a relaxation of the rules due to Coronavirus
The Working Time Regulations 1998 (the “WTR”) have been amended so that workers can carry over four weeks’ holiday entitlement for up to two years if they have been prevented from taking it due to the effects of the current coronavirus epidemic.
Read moreVAT - going beyond the headlines
The Government has recently announced a "VAT Holiday" for businesses, meaning that the VAT payment due for the periods ended 31 March 2020, 30 April 2020, 31 May 2020 and 30 June 2020 won't now be due until 31 March 2021.
Read moreThe right to trade wrongfully
On Saturday evening, the Business Secretary, Alok Sharma MP, announced that, in order to support business, the government intends to suspend the wrongful trading provisions contained in insolvency legislation.
Read moreTax and immigration implications of the COVID-19 pandemic for individuals and their families
Few would have anticipated only a few weeks ago that by March, a large part of the world, including the UK, would be or have been in virtual lockdown with many planes grounded and borders closed.
Read moreRemember your Section 17 notices
With so much focus on rent concessions for tenants and the new forfeiture moratorium, landlords should make sure they also protect their rights to recover rents and other fixed charges from former tenants and guarantors by serving notice under section 17 of the Landlord and Tenant (Covenants) Act 1995 within 6 months of the sums falling due.
Read moreResidential Possessions Update
You may have read about the Government’s intention to change the law to stop tenants being evicted as a result of Coronavirus. A Bill has been passed today which will impact on current possession claims and also on the service of notices.
Read moreConstruction contracts – the impact of Covid-19
Over the past few weeks, developers and contractors have been assessing the potential implications of coronavirus and COVID-19 on construction projects.
Read moreDispute Resolution in the Age of Isolation
Dispute Resolution Partner, Andrew Head, and Senior Solicitor, Bryan Shacklady, take a look at the implications of the coronavirus lockdown for dispute resolution, focusing on three key dispute resolution mechanisms: litigation, arbitration and mediation.
Read moreCOVID-19: Forfeiture moratorium for UK commercial leases
The majority of leases in England require tenants to pay one quarter of the rent on 25 March with landlords typically being able to forfeit the lease by peaceable re-entry if the rent is not paid within 14 or 21 days.
Read moreCoronavirus Job Retention Scheme
On 20 March 2020, the Chancellor, Rishi Sunak, announced the Coronavirus Job Retention Scheme (the “Retention Scheme”), which is designed to give employers support for paying salaries to those who would otherwise have been laid off due to the pandemic.
Read moreBUDGET 2020 – Principal measures of interest for individuals and trustees
The UK Budget 2020 announced on 11 March 2020, was rather overtaken by world events. Having been long-delayed and thrown into doubt by the resignation of the former Chancellor, Sajid Javid, in February, in the end it was COVID-19 that really moulded the new Chancellor's speech.
Read moreCoronavirus: What effect will this Covid-19 pandemic have on tenants' leasehold liabilities?
Given that leases do not contain force majeure clauses, and they will not be frustrated by any temporary restriction or inability to occupy the premises, tenants and guarantors will remain bound by their lease obligations and, in particular, their liability for the rent.
Read moreGovernment delays implementation of IR35 Off Payroll Working Rules
The Government has confirmed that the implementation of the extension to the IR35 offpayroll working rules has been delayed for a year.
Read moreWill Coronavirus infiltrate your contracts too?
With the effects of Coronavirus sweeping across global markets, businesses are evaluating the practical impact on their trade. Many industries are already badly affected – whether by imposed travel bans or the quarantining of employees and customers – and business owners are concerned that disrupted trade may leave them with contractual liabilities.
Read moreBudget 2020: £1 billion Building Safety Fund announced for the remediation of unsafe non-ACM cladding
In yesterday's budget, the Government announced the provision of a £1 billion "Building Safety Fund", which will be made available in 2020 – 2021.
Read moreNon-resident SDLT: BUDGET 2020 - the Good, the Bad and the Ugly
The seemingly good news is that this applies to contracts from 1 April 2021: as stated by the Chancellor. The bad news (apart from the fact that the charge is being introduced - at all) is that the rate will be 2% and not the 1% rate that appeared in the original consultation process. However, the ugly is the exact implementation date.
Read moreResults of the Government Review of the IR35 Off Payroll Working Rules
The Government's review of the implementation of the off payroll working rules reform concluded at the end of February and plans to continue with the implementation of the reforms.
Read moreCOVID-19: What will the impact on construction projects be?
The WHO has declared the COVID-19 a public health emergency of international concern with the potential to become a pandemic, and the government has cautioned that cases of COVID-19 in the UK are likely to rise significantly over the coming days and weeks.
Read more2020-an imminent financial crash or will the real estate sector’s fortunes continue to be favourable?
On 25 February, Bisnow hosted a panel discussion on the prospects for UK real estate in 2020. The eminent panel included representatives from Hines, M&G Real Estate, Moorfield Group, Patron Capital Partners and Schroder Real Estate. Here are some key takeaways.
Read moreImmigration post-Brexit: What employers should consider when hiring EU citizens
The Home Office has published its policy paper setting out the main features of a new proposed immigration system, which is due to come into effect in January 2021.
Read moreHow divorcing couples are affected by tax
For couples facing divorce, the tax consequences of their financial settlement are unlikely to be at the forefront of their minds.
Read moreParental Bereavement Leave
A new workplace right for bereaved parents will come into force from 6 April 2020.
Read moreHow to split the pension on divorce
It is twenty years since the family courts in England and Wales were given the power to share pensions on divorce (Welfare Reform and Pensions Act 1999).
Read moreEstate Planning: Your Digital Footprint
This article looks at what happens to your digital assets after your death and considers any actions you can take to safeguard against any misdirection of assets, or loss of sentimentally or financially valuable materials.
Read moreReform of IHT - All-Party Parliamentary Group proposal paper
The snappily titled All-Party Parliamentary Group for Inheritance and Intergenerational Fairness (APPG) has published a paper proposing a complete overhaul of the existing UK inheritance tax (IHT) rules.
Read moreNon-disclosure agreements in discrimination and harassment cases
Over the past few years, high profile news stories, such as those concerning Harvey Weinstein, and the Presidents Club dinner, have brought the issue of discrimination and harassment in the workplace, as well as the role that non-disclosure agreements (NDAs) can play in settling such matters, into the spotlight. As a result, the Government has come under increasing pressure to take positive steps to protect victims of sexual harassment.
Read moreAct now to avoid being 'named and shamed' – Fire Safety Update
Whilst it is understood that many applications were received before the 31 December 2019 cut off for applications to be made to the Government's fund for the removal and replacement of dangerous ACM cladding, latest statistics indicate that remedial works to 135 affected privately owned buildings are yet to begin.
Read moreAre your employment contract templates up to date?
Employers are required by law to provide their employees with certain information in writing relating to their terms of employment. This is technically known as a “section 1 statement”, and is normally contained within the employment contract. Following the Government’s Good Work Plan, which was published in 2018, the information that employers need to provide is changing with effect from 6 April 2020.
Read moreE by 2023 to B by 2030? BPF says yes
As the Forsters commercial real estate team learnt at a recent quiz, “climate strike” was the Collins Dictionary’s word of the year for 2019. As we begin a new decade, the need to combat climate change will no doubt remain at the forefront of conversation, none more so than in the real estate industry.
Read moreBrexit and EU workers
With a Brexit date of 31 January 2020 looking likely, employers should consider the implications of Brexit on their EU workforce in the UK.
Read moreUrban Developments: Common issues and how to address them - Part 2 - Strategic Planning
Using a tired, mixed-use retail office building in London as a case study, we look at some of the issues which might be encountered on an urban redevelopment scheme. In this second part, Miri Stickland quizzes Matt Evans on the planning process.
Read moreReducing the price of Enfranchisement, The Law Commission's latest report
The Law Commission has today published its report on reducing the price payable by leasehold home owners when exercising enfranchisement rights.
Read moreWhen Diversity and the Built Environment Collide
Diversity seems somewhat of a buzzword in many industries, not least in the Built Environment. So, let's set out some specific examples of how diversity has positively influenced the Built Environment and where a lack of consideration of diversity has negatively impacted the industry.
Read moreHMRC opines on situs of crypto-assets
For those of us operating in the UK tax world, HMRC have a marvellous ability to confound expectations. In recent years they have delivered surprises on topics such as specialty debts, offshore income gains (as non-protected income), and remittance basis users using non-UK income and gains as loan collateral.
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