How can private companies continue to function in a pandemic?
With a little thought and willingness to try new processes, private companies can continue to function in a lockdown situation.
COVID-19: Relaxation of the Statutory Residence Test for individuals carrying out coronavirus related activities
In an effort to attract and retain those with expertise in fields that may help in fighting COVID-19 in the UK, the Chancellor has announced that the statutory residence test (SRT) will be relaxed for certain individuals for the period 1 March to 1 June (although the duration of the concessionary period will be kept under review).
Art in the time of Coronavirus: Disputes in the Art World
With one third of the global population living under lockdown, we are witnessing the dawn of a new, and hopefully temporary, normal. We are all having to adapt to significant changes to our daily lives, social interaction and the operation of our businesses.
Coronavirus Job Retention Scheme
The guidance for employers and employees relating to the Coronavirus Job Retention Scheme (the ‘Scheme’) has now had several iterations. The Chancellor has issued the Treasury Direction (the ‘Direction’), which sets out the Scheme’s formal legal framework, and announced an extension to the Scheme until the end of June 2020. The HMRC on-line portal for making claims is now open. With so many moving parts, we thought it would be useful to answer some frequently asked questions in relation to the Scheme.
Government announces temporary ban on Statutory Demands and CRAR
Landlords seeking to recover rent from their commercial tenants were dealt a further blow on 23 April 2020 when the Government announced further measures to protect commercial tenants during the lockdown period.
The Government-backed SME funding train is finally rolling into town…
There are currently three government-backed funding schemes available to businesses:
Dispute resolution in the age of isolation – An Update
Since 26 March 2020 when we last surveyed how mediation, arbitration and litigation were being conducted in the current circumstances, matters have evolved at a rapid pace, particularly in the English court system. We have seen unprecedented use of technology as the courts focus on getting business done as usual so far as possible.
COVID-19: HMRC guidance on Company Residence, Permanent Establishment and related issues regarding the Economic Substance Test
Her Majesty's Revenue and Customs (HMRC) published guidance on 9 April on the implications of COVID-19-related travel restrictions on a company's residence status. Such travel restrictions may force directors or employees to be present in the UK when they would not be here under normal circumstances. This situation raises concerns as to whether a foreign company may become resident for tax purposes in the UK because the central management and control (CMC) of the company might be considered to have moved here.
Art in the time of Coronavirus: Landlord and tenant considerations for the art market
According to the British Art Market Federation, the UK arts and antiques market is comprised of nearly 8,000 businesses, providing direct employment for over 41,000 people. It is the third largest in the world with over a 20% global share and, therefore, a significant sector in the UK economy. However, it is a sector that relies heavily on the physical presence of persons to transact and operate, and one that will clearly feel the effects of the COVID-19 pandemic.
A practical guide for landlords on the impact of a tenant entering liquidation
Despite stimulus packages from the Government, it unfortunately seems inevitable that a large number of businesses will enter liquidation in the short and medium term as the economic impact of the COVID-19 pandemic is felt in nearly every sector.