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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:…

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…

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 1

"Since 2001, in my varied role at the firm, I have helped the partners to manage the risks of compliance and operations. Business continuity is always there at the back of your mind, but Covid-19 has been a game-changer in risk terms . . .", commented David Downham, Practice Director and Risk Manager at Bowling & Co. Let's start with some background on risk management and planning. Business continuity is a key phrase often quoted whenever a business, large or small, contemplates updating or testing their disaster recovery plan -…

Covid-19: Help with your mortgage

During these unprecedented times, many homeowners and buy to let landlords will have a fear of what will happen with their home or investment property if they cannot continue to make mortgage payments. Unlike the provisions to protect residential and commercial tenants from eviction, mortgage holidays from UK lenders are (as things stand) not enforced by law. The policy adopted by most lenders is the consequence of an agreement between the government and principle lenders, but, this scheme is voluntary and does not have to be supported by a lender…

Landlords must comply with latest energy standards

Landlords of residential property could face high fines if they do not meet the latest energy efficiency standards.  On 1st April 2020, the latest stage of the Minimum Energy Efficiency Standards was implemented, making it unlawful for landlords to continue domestic residential tenancies where the property has a rating of F or G on its Energy Performance Certificate – commonly known as an EPC. Two years ago, the first stage of implementation introduced the requirement for an E rating or above for all new tenancies granted. Now, that is extended…

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