The government has recently announced that it plans to give leaseholders the right to extend their lease to 990 years. Currently houses occupied under a lease can only extend their lease once for 50 years, whilst flat leases can be extended as often as required, with a zero ground rent for 90 years. Furthermore,…
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…
Despite the recent announcement of a second ‘lockdown’ in England, Robert Jenrick, Secretary of State for Housing, Communities and Local Government has said that the housing market would still be able to operate. All involved in the conveyancing process will of course have to operate using Covid secure practices however, it has been confirmed…
Sadly the current economic squeeze created by the pandemic is resulting in a lack of demand for the products and services of some businesses. Inevitably to survive this businesses are having to reduce their cost base – including employee costs. The actions that SME owners take needs careful consideration and all options should be…
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…
In a response to the logistical problems created by the recent pandemic the government has announced that it will now be acceptable to have a will witnessed by a video link in England and Wales. Furthermore, this change in the law will be backdated to 31 January, which coincides with the date of the…
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The Government has announced that to boost the property market, there will be a temporary stamp duty ‘holiday’ on the first £500,000 of all residential property purchases in England and Northern Ireland where the property is the main residence. This will apply throughout 2020 coming to an end in March 2021. Stamp duty is…
Most commentators now see us heading into a toughening economic climate which may well result in reduced demand for goods and services. This is compounded by the strains placed on many businesses who have had to restrict activities due to the recent virus outbreak. We have seen the Government take action to keep people…
It’s been a strange and challenging time for many of us. Every person has gone through their own lockdown experience with their own distinctive set of challenges ranging from illness, to child care and on to a sense of isolation. The loss of contact with friends and family has been a particularly hard burden…