Most small business owners could be forgiven for having missed the Finance Act 2020 however, there is a provision within it that could make lending that bit more difficult for SME’s. The Act states that HMRC will become a preferential creditor for insolvencies that take place after 1 December 2020. Previously only employees and the…
A Lasting Power of Attorney (LPA), is a legal agreement whereby you identify a person(s) to make decisions about your care and finances should you become incapacitated. LPA’s are very good practice when it comes to planning personal affairs however, business owners should apply similar thinking when it comes to their business. If you…
Businesses have responded very quickly to a fast changing economic and social environment. As a result of this many are having a good look at what they do and how they do it. Which in turn has involved a review of a wide range of practices and relationships. Many of these are supported by…
The Prime minister recently outlined a change in status from ‘stay at home’ to that of ‘stay alert’. This represents the first step in the easing of restrictions, a process that we are told could be halted or reversed depending upon the control of COVID-19 within the general population. Further details are expected and…
Businesses large and small are currently looking at ways to borrow more to see them through the current lockdown. The recently announced ‘Bounce Back Loan’ scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. Under this scheme the Government will guarantee 100% of the loan and there won’t be any fees…
The current outbreak has caused substantial problems for businesses in terms of how they carry on trading. Depending upon the sector in which they operate there have been a variety of announcements regarding Government support. For example, the Government has announced cash grants for the retail, hospitality and leisure sector. Under this scheme there…
Despite uncertain times it is expected that the buy to let market will grow. Join us on the 27th November where we and a panel of industry experts will share expertise and insights into the buy to let market, including topics such as finance structuring, funding solutions and landlord obligations. This seminar is aimed at…
Cash is king in any business, we all know that. But how do you ensure that you are paid (and on time) for work you have carried out or for goods you have supplied. This article will equip you with some of the tools needed to help minimise, or even eradicate, bad debt in your…
More often than not those staring up a company often begin on a scrap piece of paper which can lead to an unsophisticated early existence with little time to worry about the more essential legal requirements. Consequently, later on when you begin to raise money or enter into large commercial agreements, these overlooked points can…
Providing the agreement is not for a fixed term of more than 3 years, a Tenancy Agreement does not need to be in writing. The terms can be agreed between the parties orally with certain terms implied into the agreement, for example the Landlord’s obligation to repair the property. Subject to some exceptions and criteria…