Lasting Powers of Attorney – Is now a good time?

Mr G, a man in his mid-forties was married with three children.  He had his own business which was extremely profitable, and enjoyed his pastime of playing golf and swimming.  He would take flamboyant holidays about four times a year with the family, with at least two involving skiing in the French and Swiss Alps. When he came to see me to draw up his Will,  we discussed preparing  Lasting Powers of Attorney (LPA’s).  “What are they”, he asked? I explained that a lasting power of attorney is a legal…

A growing opportunity for London’s waterside warehouses

With e-commerce businesses booming, it is predicted that half of UK retail sales will be online within 10 years. In line with this, there has been a rise in expectations from Consumers when it comes to online purchases, especially, in relation to the quick turn-around of orders and delivery. Covid-19 has changed the way consumers buy goods. More people are happy to order items online without the need to physically see the items beforehand. As a result, it is vital that any e-commerce business considers how improving their warehouse operations…

Selling or buying property during COVID-19

One thing is certain, the property market has been paralysed by lockdown. However, the tide is turning so if you are looking to put your home on the market or wanting to purchase a property take note. The advance of modern technology has made everything possible now.  360 Virtual viewings are now an option and your agents can be contacted via email, with some offering video consultations. Sellers, if you are, or have been thinking about putting your property on the market – don’t delay. Now is the time to…

Effects of the Tenant Fees Act 2019 from the 1st June 2020 on all residential tenancies

The Tenant Fees Act 2019 (‘the Act’) came into force on 1 June 2019 and imposed limitations on the fees that Landlords and Agents could charge Tenants under Assured Shorthold Tenancies granted by private landlords, tenancies of student accommodation and most licences to occupy housing in the private rental sector in England. It meant that any fees charged outside of the Act were not permitted and consequently banned. The Act has the effect of reducing the costs incurred by the Tenant throughout the Tenancy so as to make the private rental…

Corporate insolvency: the proposed new rules

On the 20th of May the House of Commons carried out the first reading of the new proposed Corporate Insolvency and Governance Bill, which is set to bring substantial changes to the current rules. Of course, the below is not yet law, however, it provides a good indication in the direction in which things are heading. A second reading is scheduled for the first week of June 2020. The aim of the bill is to provide more debtor-friendly provisions that will assist in rescuing struggling companies. These include: •             New…

What should you consider when offering a loan to a family member?

The Covid-19 pandemic has created a lot of uncertainty in the economy and is leading to disruption in businesses and financial markets throughout the world. In these challenging times, when people are experiencing unprecedented financial distress, it is not unusual to seek financial assistance from family, to address the emergency. It is important to make an informed decision and to consider matters carefully when offering a private loan. From the borrower’s perspective, taking a private loan from family usually offers a better rate and lower cost option than borrowing from…

Company responsibilities during the Covid-19 pandemic

The UK Government has put in place substantial measures to help mitigate the devastating effect of Coronavirus (Covid-19) on the economy. During this lockdown period, and economic downturn, company directors are trying to comply with the government’s measures, as well as satisfying their own obligations to the company. Directors are concerned about fulfilling their responsibilities, acting with reasonable care, and in the best interests of the company, as required by the Companies Act 2006. However, during these unprecedented times, the directors’ decision mechanism is usually dependent on two vital questions:…

Wills and Lasting Powers of attorney – Is now a good time?

Coronavirus has caused a lot of chaos and it has been a very turbulent time for us all. What is evidently clear is that everyone is in the same situation and it is entirely natural to feel concerned about the impact on your family and your finances during this time. You can take control of the situation and your future in your own hands by drawing up a Will and making Lasting Powers of Attorney, to ensure that you have peace of mind and have secured the future of your…

Can I still create or amend a Will during lockdown?

Creating a new Will, or amending an existing Will is one of the hot topics during the Covid-19 lockdown, and it is very important that everyone makes the decision to ensure that their Will is up to date. But how do you create a new Will, or amend an existing Will during lockdown? The requirements for creating and amending Wills are contained in legislation that dates back nearly 200 years, to the Wills Act 1837. This Act requires that in order for a Will to be valid it must be…

Covid-19: Business continuity and risk management: part 2

This the second part of a two-part blog about business continuity plans (BCP) and the changing risk landscape. Read part one here. Why have a BCP? The whole point of a well-planned BCP is so that a business can continue its operations during an incident or disaster, hopefully uninterrupted. Or if the business is disrupted, then the BCP should help to minimise the issues and keep the arteries of the business functions flowing. Key contacts will need to be calm and work methodically in any crisis and communication will be…