The Government is to end temporary insolvency measures for UK companies post Covid-19 22nd September 2021 The government has announced that from 1 October 2021 it will be phasing out the temporary measures that were brought in to protect businesses from insolvency during the Covid-19 crisis. The measures were introduced in June last year
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FAQs relating to commercial contracts post COVID-19: How do you manage commercial contract disputes following the coronavirus pandemic? 13st August 2021 Without doubt, the coronavirus pandemic has had huge repercussions on the UK economy with many businesses left reeling from both the pandemic itself and the introduction of government measures to protect the public.
Landlords and tenants: Government issues a new policy on ‘ringfencing’ rent debt accrued during the pandemic
Landlords and tenants: Government issues a new policy on ‘ringfencing’ rent debt accrued during the pandemic closures. 17th August 2021 On 4 August 2021, the UK Government updated their policy on supporting businesses with commercial rent debts. The Government says the aim is to ‘provide the breathing space needed’ for negotiations between tenants and
UK Corporate Insolvency and Governance Act 2020: Covid-19 update and implications for company directors
UK Corporate Insolvency and Governance Act 2020: Covid-19 update and implications for company directors 3rd August 2021 In March 2021, the government extended temporary insolvency measures to aid businesses in dealing with the current and continuing disruption caused by the pandemic. The measures so far have avoided a big spike in insolvencies and the
Payback for bounce-back loans approaches: Deadlines, handling debts and disputes 20th July 2021 The Government’s bounce back loan offered to businesses during the coronavirus pandemic, gave emergency finance to struggling organisations of between £2,000 and £50,000. The loans were interest-free for the first twelve months, with the first loans delivered in May 2020. This
7th July 2021 Corporate debt recovery: a guide for small businesses Good credit control is vital for small businesses and can sometimes make the difference between success and failure for an organisation where good cash flow is important. Understanding your rights and how best to recover debts will help you control late payments and
Employment law and Covid: Over half of UK workers want to change career path following the pandemic. As the world of work opens up again and lockdown restrictions lift, many people are considering a change of occupation. The break in normality caused by Covid-19 gave many workers the chance to consider their direction in
New law aims to close loophole on company dissolution The government is set to introduce new rules preventing company directors from avoiding personal liability for their unlawful conduct. A loophole currently exists that allows company directors to prevent an investigation into their actions by informally striking off their own company. The so-called dissolution loophole
A guide to winding-up proceedings: How does the process work? A winding-up petition allows a company’s creditors to attempt to recover money owed to them by having the company’s assets sold, with the proceeds used to pay outstanding debts. It is a serious step and should only be undertaken as a last resort. A
The government consultation: Commercial property and rent arrears through the pandemic As legal restrictions on the recovery of commercial rent arrears continue, the government has launched a consultation on whether to extend, remove or replace the measures. During the pandemic, emergency legislation was put into place to protect commercial tenants who were struggling to
The 4 ways to legally terminate a contract: breach of contract, performance and agreement Disruption is common in the business world, with unforeseen events or difficulties meaning that contracts sometimes cease to be beneficial or even possible. We take a look at various ways in which a contract can possibly be legally terminated. If
Strategies for preventing shareholder disputes Shareholder disputes can be disruptive to a company, diverting management attention from the business and potentially damaging its reputation. Putting the right framework in place to avoid disputes will not only help prevent shareholders from being disgruntled but can also make a company a more attractive proposition should it
HMRC preferential status and the impact on personal guarantees The government’s reinstatement of HM Revenue & Customs (HMRC) to the position of a secondary preferential creditor in insolvent liquidations comes at a time when many businesses are being squeezed and cash flow is poor. Lenders may be more inclined to seek personal guarantees before
Wrongful or insolvent trading: Can directors be personally liable? Wrongful trading occurs when company directors continue to trade past the point when they knew or should have known that there was no reasonable prospect of avoiding insolvent liquidation and in addition they did not attempt to minimise potential loss to the company’s creditors at
The FCA and business insurance: Are Covid-19 interruptions covered? Following disputes and disagreement over whether business insurance companies were required to pay out on business interruption policies following the Covid-19 outbreak, the Supreme Court has made a ruling which will help many businesses make successful insurance claims. On 15 January 2021, the Supreme Court