When negotiating terms at the start of any commercial relationship, focussing on how you and the other party can terminate that relationship might seem counterintuitive. However, businesses should always try to ensure they have contractual rights that allow them to exit from agreements that cease to be commercially/economically viable.

Our tax, trust and estate planning lawyers work hand in glove with our agricultural team to make sure our farming clients receive coordinated advice that works for both their businesses and their families. Richard Dundee and Hannah Lloyd have a track record in advising farming families so that the personal affairs of individual family members seamlessly interconnect with business life of the farm.

The Modern Slavery Act 2015 (“MSA”) received royal assent in March 2015, but one of its most important provisions only recently came into force at the end of October.

Since our first article about the 2019 Loan Charge, we have received a number of enquiries and common issues have appeared. Here we address some of the points we have experienced with clients in relation to the 2019 Loan Charge.

Business property relief (BPR) is a relief from inheritance tax (IHT) at either 50% or 100% on trading business interests or assets owned by the person claiming the relief. This relief applies to business property either transferred during a person’s lifetime, or on their death, providing they have owned them for the preceding two years.

While Enterprise Management Incentive (“EMI”) options are often seen as easy to implement, the company’s and employee’s eligibility at the point of grant of the option is not the end of the story.

The new pre-pack regulations are designed to regulate connected person pre-pack sales with the aim of balancing the rights of creditors affected by business failure with the need to promote viable business rescue options to businesses, especially in the current economic climate.

As lockdown is once again gradually eased for what will hopefully be the last time, businesses must look to the future and important decisions will have to be made about the size and shape of the business going forward.

Kevin Hall explains VAT issues on the sale of a business and transfers of a going concern.

After the First Tier Tribunal found in favour of the beneficiary of a Remuneration Trust (Marlborough v HMRC) in September 2021, a differently constituted First Tier Tribunal, when considering an almost identical scheme used by Strategic Branding, has found in favour of HMRC, having determined not to adopt the reasoning applied in Marlborough.