As a result of COVID-19, many businesses have been forced to stop trading during the lockdown or have changed the nature of their activities. Aside from the commercial aspects of a change in business activity, various tax implications may also arise, including the business’ ability to carry forward losses.
Giving a speech on 30 June 2020, Boris Johnson declared the UK government’s intention to deliver “the most radical reforms of our planning system since the end of the second world war” as it attempts to offset the economic impact of the coronavirus pandemic.
The recent Supreme Court case of Dill v Secretary of State provides an important decision as to whether a Planning Inspector of a listed building enforcement case can decide whether an item which has been expressly included on the statutory list is in fact a 'building' and the criteria for determining whether an item listed in its own right does constitute a building for these purposes.
With businesses and companies trying to return to normal economic life and activity, I consider in this piece some matters that companies may be overlooking when making distributions and in their intra-group transactions.
On 19 June 2020, the Government published the Code of Practice for commercial property relationships during the COVID-19 pandemic (" the Code"). The Code was drafted by a Working Party comprising landlord and tenant representative bodies.
With substantial sums still outstanding for the March Quarter, landlords face an even tougher battle collecting rents for the coming June Quarter. This Guide looks at the options likely to be available in light of Government action to date and future likely restrictions.
While the deal market may have slowed, business leaders, commentators, business owners and investors expect that deals will start again (albeit perhaps not in earnest until Q4 this year) and indeed need to start again as M&A is a powerful driver of the economy and innovation.
The implementation of the Common Reporting Standard (CRS) and other data exchange regimes means that HMRC have received, and will continue to receive, substantial information about the global tax affairs of persons with connections to the UK.
In an effort to mitigate the economic impact of the Covid- 19 pandemic while still seeking to limit the spread of the virus, the Government has announced that most non- essential shops, department stores and shopping centres will be allowed to reopen in June 2020.
Now, more than ever, companies need to consider and put in place a business continuity strategy. Leaving a business rudderless or having to deal with complex continuity issues will, at best, take up management time and cause distress at a time when emotions may be running high and at worst, could result in the failure of the business.
