Tag Archives: COVID-19

More pain for struggling businesses and headaches for directors – easing of restrictions for company creditors

Posted on 18/10/2021 by freestyle

With the ending of the furlough scheme in September 2021, following the easing off of government support since July, it is a sad fact that many businesses will be facing the harsh reality that they are unable to continue to trade in their current form. To compound matters for struggling companies, the protection against winding up petitions has now largely ended. Whilst this may be good news for creditors owed large sums of money from their corporate debtors, there are still some increased protections in place. Under new temporary measures introduced on 1 October 2021, until 31 March 2022, a creditor still cannot present a winding up petition against a company if either of the following apply: However, even if your company is not saved by one of the above criteria, creditors must seek proposals for payment from the debtor … Continue reading →

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COVID-19 business support schemes and grants

Posted on 05/01/2021 by freestyle

Following the news on 4 January 2021 of the latest lockdown restrictions, Chancellor Rishi Sunak has today announced a further package of grants to help retail, hospitality and leisure businesses stay afloat. The latest package includes a £4,000 grant for businesses with a rateable value of £15,000 or under, £6,000 for businesses with a rateable value of between £15,000 and £51,000, and £9,000 for businesses with a rateable value of more than £51,000. As well as the £4bn worth of grants, a further £594m will be made available to councils to help businesses impacted by the lockdown but not eligible for the new payments. These announced grants are in addition to the rates relief, existing discretionary grants, and continuing furlough scheme. To assist the devolved administrations, the Scottish Government will receive £375 million, the Welsh Government will receive £227 million, … Continue reading →

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UK COVID-19: Government extends protections for commercial tenants

Posted on 18/09/2020 by freestyle

After much speculation, on 15 September 2020 the UK Government further extended protections to business tenants in England. Current COVID-19 protections for commercial tenants Currently, commercial tenants benefit from various protections arising from the COVID-19 pandemic such as the temporary ban on landlords forfeiting commercial leases as a result of non-payment of rent, and a requirement for at least 189 days of unpaid rent to be outstanding before Commercial Rent Arrears Recovery (CRAR) may take place. The temporary prohibition on forfeiture was due to end on 30 September 2020. What has changed? Section 82 of the Coronavirus Act 2020 prevents landlords from using a right of re-entry to bring a business tenancy to an end on the basis of non-payment of rent during the “relevant period” as defined in the legislation. The “relevant period” has now been extended to come to … Continue reading →

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The “New Normal” – is your business ready?

Posted on 22/06/2020 by freestyle

Coronavirus (COVID-19), leisure and retail businesses It is fair to say that the recent lockdown arising out of the Covid-19 pandemic has knocked the UK economy for six. Many businesses have been unable to trade at all for some time now, and others have lost their regular customer base. Some however will have prospered.  The good news for businesses, and the economy, is that the restrictions imposed to combat the virus are slowly softening, and many businesses across a number of sectors are now able to reopen (or soon will be) with staff returning to work. Outdoor markets, car showrooms and other shops have now been able to open. But how will workplaces need to adapt and what safeguarding measures will businesses have to take? It will not be business as usual for many, but hopefully with planning, proactivity, and … Continue reading →

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Coronavirus (COVID-19): commercial property landlords and tenants

Posted on 14/04/2020 by freestyle

Section 82 of the Coronavirus Act 2020 prevents landlords from forfeiting ‘relevant business tenancies’ until at least 30 June. However, tenants should think twice before withholding rent and other lease payments; landlords do not just have to adopt a submissive approach. At the end of March 2020, the government announced measures to protect commercial tenants that cannot pay their rent because of COVID-19, from eviction in the short term. Shortly after the announcement, the Coronavirus Act 2020 (the “Act”) received royal assent and became law. Section 82 of the Act also includes extensive provisions dealing with situations where forfeiture proceedings have already commenced in the High Court or county court, but this article is only concerned with situations where no such proceedings already exist. The announcement stated the measures would benefit commercial tenants who cannot afford to pay their rent. However, there … Continue reading →

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Scott Bailey LLP: Covid-19 latest update

Posted on 25/03/2020 by freestyle

Following on from our posts last week, as the Covid-19 pandemic develops, we wanted to get in touch again to let clients what we have been up to. Our focus continues to be on providing you with a high-quality service, whilst of course working to keep our staff, clients and contacts safe. In accordance with government advice, we have encouraged our employees to work from home where possible, and we’re exceptionally proud of how they have risen to the challenge. We’re also pleasantly surprised at how many of them miss being in the office! Clearly, the situation is fast moving, with new measures being announced daily as the government addresses the emerging key issues facing both individuals and businesses. These are uncertain times, but life and business must go on. While many of the Scott Bailey team are working remotely, it … Continue reading →

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Coronavirus: managing business risk

Posted on 16/03/2020 by freestyle

Coronavirus (COVID-19) has been classified as a pandemic, and the Government has announced that the UK has stepped into the “delay” phase.  Now that anyone with “symptoms” (persistent cough and / or a high temperature) has been told to self-isolate for 7 days, there will be an inevitable knock on impact to many SME businesses. Organisation owners and directors must now consider how best to mitigate the effects on their businesses, put plans in place if they have not already done so, and keep them under review. Here are a few points to help business leaders ensure their team are prepared, and to ensure directors comply with their ongoing directors’ duties and obligations:   If it is accurate that up to 80% of the UK population could be infected at any one time, it is not too far to say … Continue reading →

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Coronavirus update

Posted on 16/03/2020 by freestyle

As we all know, these are uncertain times, but even more so now in view of the increasing severity of the Coronavirus, or COVID-19, situation in the UK. Here at Scott Bailey, we wish to assure clients that we are committed to the safety and health of our team, our clients and other colleagues whilst continuing to provide the high level of legal services we are known for. What are we doing? Some of the steps we have taken include: The partners are meeting regularly to review the latest Government and industry guidelines. All desks have been provided with hand sanitiser We have cancelled or postponed all but essential client face to face meetings.  We have a solid technology infrastructure. The majority of our services can be provided over the telephone, by video conferencing, and by email.  Our employees know … Continue reading →

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