From 1 December 2020, HMRC will once again benefit from preferred creditor status in the event of an insolvency. This means that, regardless of the date of any pre-existing security, HMRC will rank ahead of the general body of unsecured creditors and floating charge holders in respect of certain taxes (including VAT, PAYE and employee’s NIC but not Corporation Tax).
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The changes currently proposed by the Government to Companies House are likely to be amongst the most significant since the Companies Act 2006 originally came into force and expand on the PSC and other filing regimes already in place.
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On 2 September HMRC announced a change in its policy on the VAT treatment of compensation and damages payments in the context of early contract termination.
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We know that one of the most difficult and troublesome areas of contracts to navigate are indemnities and how they interplay with warranties and liabilities. This note is not intended to be chapter and verse. It is intended as a guide to help those working in-house to identify ‘red flags’ in contracts presented to them for review.
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On demand webinar, focusing on practical solutions to utilise from home in agreements and dealings with business contract law, employment and covid-19.
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On 28 March 2020, the Government issued a press release stating that it would legislate to seek to ease difficulties in meeting statutory obligations for companies to hold AGMs during the COVID-19 pandemic.
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On 20 May 2020, the UK government published the long-awaited Corporate Insolvency and Governance Bill (the Bill) to implement the temporary measures announced by the Business Secretary on 28 March 2020 and the long planned measures contained in the government’s consultation in August 2018.
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The Chancellor has set out a package of measures to support public services, people and businesses through the period of disruption caused by COVID-19.
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Q&A guide to the Future Fund scheme for supporting earlier stage businesses during the Covid-19 crisis.
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Due to covid-19 restriction, gyms and leisure centres are temporarily closed to reduce the spread of the disease. Nevertheless, the impact this has on leisure providers is critical due to loss of income and their limited cash reserves.
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