Many small businesses are owned by members of the same family. Going through a divorce can be a difficult and often distressing process, which can become increasingly complex when there is also a family business to consider. There is often confusion as to how a divorce may impact a family business. If one of…
Pretty much all organisations should have carefully constructed terms of business. This is more than just the ‘small print’ some of us have come to expect but sadly largely ignore. They often form the contractual basis between the seller and the buyer. If agreed, the terms should be enforceable if there is any disagreement…
The word unprecedented has rightly been used to describe the last year. Businesses of all sizes and sectors have had to confine their forecasts, budgets and wider planning to the deleted box. Whilst some sectors have been hit very hard others have flourished, but the impact across the wide economy has obviously been detrimental….
Current trading conditions have increased the demand for small business loans as businesses try to survive the short-term impact of Covid and make strategic changes to ensure their long-term survival. The Government is providing financial packages to support small businesses with cash flow issues. However, many are turning to investors and lenders to secure…
We are seeing a great many of our commercial clients’ re-visit their business structure and considering new service or product launches in order to respond to changing market conditions. History shows us that recessions and coming out of recession can be a good time to launch a new business. As the BBC recently reported:…
Most people should consider drafting a Lasting Power of Attorney. For more information contact Pictons 0800 302 9448 info@pictons.co.uk
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…