5 August 2020
On 30 July 2020, the UK Government announced changes to the government-backed Coronavirus Business Interruption Loan Scheme (CBILS) following the European Commission’s amendments to the "Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak" (EU Temporary Framework). These changes effectively mean that more SMEs will be able to borrow up to £5 million under the CBILS than previously.
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30 July 2020
A question which has been considered by many landlords, tenants and advisors over the past few months but for which we now have the answer courtesy of HMRC.
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29 July 2020
The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020 (SI 2020 No.757) were introduced by the government on 20 July, and take effect on 1 September 2020. The new Regulations make radical changes to the 1987 Use Classes Order. These changes sit alongside the recent additions to permitted development rights, forming part of the government’s “Project Speed”, with the aim being to support the high street revival and allow greater flexibility to change uses within town centres without the need for express planning permission.
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23 July 2020
As the independent review into residential properties built under existing permitted development rights is published, the government has introduced three new statutory instruments (coming into effect in September 2020) further amending both permitted development rights and the use class system, to 'deliver much-needed new homes and revitalise town centres.'
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22 July 2020
The Government has now published its response to the technical consultation on the implementation of the Fifth Money Laundering Directive (5MLD) and the Trust Registration Service (TRS). The TRS consultation ran from 24 January until 21 February 2020 and responses were received from a range of stakeholders including Forsters LLP.
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21 July 2020
The Law Commission has today published its three final reports on leasehold reform and the future of home ownership. Their recommendations about leasehold enfranchisement and the right to manage are aimed at improving the existing system of leasehold ownership, whilst the third report about commonhold seeks to create a viable alternative to leasehold ownership, with a view to its widespread use in the future.
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21 July 2020
In this article we consider the proposed reforms to the right to manage (“RTM”) regime which is a right for leaseholders to take over the management of their building without buying the freehold.
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21 July 2020
Arguably the greatest change suggested by the Law Commission is their recommendation that commonhold become the preferred alternative to leasehold ownership. This would be a huge change to the status-quo given that many practitioners will never have come across commonhold.
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21 July 2020
A much needed boost to the hospitality sector was announced by the Chancellor Rishi Sunak as part of his mini-budget on 8 July 2020.
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21 July 2020
The Law Commission has published its three key proposals for home ownership reform today with a view to re-invigorating the largely ignored form of commonhold ownership. The three reports which deal with enfranchisement, right to manage and commonhold tie in with the Government’s aim to make home ownership in the UK fairer and transparent.
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