To assist Spanish businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
To assist Italian businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
To assist French businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
To assist Czech Republic businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
To assist Belgian businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
To assist Polish businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available.… Continue Reading
In our previous blog we reported on the lack of funding that the UK Government financial support measures provided to mid-tier businesses – leaving many unable to benefit from much needed funding to help with cash flow and liquidity issues. Many smaller businesses were also unable to qualify for support. Today the Chancellor has announced changes … Continue Reading
We have updated our guide setting out what funding is available to UK businesses, what the eligibility criteria is, how to apply for the funding and when it will be available.… Continue Reading
This updated note sets out directors’ duties in the context of managing the practicalities that Covid-19 places on business operations. … Continue Reading
What should German organisations be doing to mitigate the impact of Covid-19 on their business, staff, supply chains, etc Here is an overview of the key legal issues for businesses in Germany to consider, together with some practical steps for businesses to take. Also available in German – click here.… Continue Reading
Some of the businesses most severely affected by the Covid-19 pandemic operate in the retail, hospitality and leisure sector, with many being instructed by the Government to close down. For many of those same enterprises, business rates probably represent a (if not the) major operating cost. In attempt to alleviate some of the financial damage, … Continue Reading
This note provides a more detailed look at what tax measures and announcements have been made to date covering: VAT, self assessment income tax, time to pay, non-statutory clearances, pension schemes, statutory residence test, stamp duty (transfer of shares and applications for group relief). It also highlights other measures that we could see to address the … Continue Reading
Over the weekend, the Business Secretary announced that UK Insolvency Laws will be changed. The changes will give businesses “extra time to weather the storm” and give comfort to directors who, challenged with trading through a difficult cash flow period, will not face claims for wrongful trading.… Continue Reading
The ILA Technical Committee, in conjunction with the CLLS, has produced the attached briefing note that reminds practitioners and businesses of the flexibility of a UK administration to stabilise, protect, and, if necessary, restructure companies. It is vitally important, as businesses across the UK battle the enormous challenges posed by the COVID 19 crisis, that we remember … Continue Reading
On Thursday, 26 March 2020, the Chancellor of the Exchequer published details of his latest intervention in the government’s response to the COVID-19 pandemic by unveiling a much anticipated package of support for self-employed businesses. The Self-employment Income Support Scheme (SISS ) is intended to align the support available for the self-employed with that already … Continue Reading
The UK Government announced last week that, in order to assist businesses dealing with the effects of the COVID-19 pandemic, no business would be required to pay VAT for the next 3 months. Instead, the sums that would have fallen to be paid this quarter will not become due until the end of the 2020/21 … Continue Reading
Further to our blog Mothballing businesses: survival through the lockdown and beyond we have prepared a more detailed note considering issues we anticipate for those businesses needing to shut down – see here.… Continue Reading
Aside from managing the practicalities that Covid-19 places on business operations, directors must also consider in this context, their duties as directors. This note is a useful reminder of what those duties are and how Covid-19 could impact on those.… Continue Reading
From a recent survey we conducted over 40% of businesses had not yet considered the Financial Support packages being made available from Government. Our quick guide sets out what financial help and other options outside of those on offer from the Government are available to help support businesses – see here.… Continue Reading
As we see more businesses having to close doors or adapt to a new set of rules, we set out a summary of some of the issues we anticipate for those needing to shut down but preserve their businesses at least until the lockdown is over. We will produce a more detailed client alert as … Continue Reading
In summary, and in edition to other measures announced by the Government, no business will be forced out of their premises if they miss a payment in the next three months (currently up to 30 June 2020 but there will be an option for the Government to extend this). This measure applies to all commercial … Continue Reading
This note explains which businesses must close and considers how the restrictions on movement of people impact on essential businesses. For insolvency practitioners, the decision to close non-essential businesses will impact on what options are available if a business is in distress and has to go into an insolvency process. It will also impact on … Continue Reading
The Prime Minister announced tonight that all shops selling non-essential goods in the UK are to close immediately and except in specific circumstance people will not be allowed to leave their homes – all social gatherings and social events are to stop. This measure will be reviewed in three weeks. The important questions that these … Continue Reading
It is widely reported in the press that the UK is only two weeks behind Italy in terms of the mortality rates from coronavirus. We have seen efforts from the Government ramp up, as they try to curb the spread of the virus, with hospitality and leisure businesses being told to close on Friday. However … Continue Reading
