Below we have put together a brief summary of things to consider:

• Firstly, it is important to make sure that the premises you are purchasing are suitable for your business. This means looking out for any restrictive covenants that the building could be subject to, and considering the local restrictions that could be put in place.
• Once negotiations between two parties have begun, a lockout agreement might be made, which means that the seller agrees not to sell the property to anybody else, whilst negotiations are taking place. This, however, is not mandatory.
• Due Diligence is an important factor in the process of buying and selling commercial property. Checks will be carried out by solicitors on behalf of the purchasers, in order to ensure that there are no problems with the premises, and for the transaction to go ahead.
• Once any queries that could potentially arise have been dealt with, exchange and completion can occur. This is the stage where the transaction becomes legally binding on both parties, so it is important that both parties are happy to proceed by this point. Pulling out once contracts have been exchanged will mean that the party who has done so can be liable to pay compensation to the other side. The balance of the purchase price would be transferred to the seller on the agreed day of completion.
• Post completion, the purchaser’s solicitors will prepare a Land Registration Return to be submitted to HMRC, who will calculate the amount of stamp duty land tax that needs to be paid. The purchaser’s ownership of the property should also be registered with the Land Registry.

If you would like to discuss this in more detail, please email info@ha-law.co.uk or telephone 020 7788 7465 to speak to a HA Law Partner.

The key deposit protection changes affecting landlords and letting agents are as follows:

• Assured Shorthold Tenancy (AST) deposits taken before 6 April 2007 that subsequently moved onto a statutory periodic tenancy (SPT) must now be protected in a tenancy deposit protection scheme. Landlords have until 23^rd June 2015 to protect the deposit. Not doing so will prevent you from being able to issue a section 21 notice (regain possession of a property) and you could also be faced with a penalty fine.
• Deposits that were taken before 6 April 2007, but where the tenancy became periodic before this date means landlords will not be required to protect the tenant’s deposit. However, this means landlords will not be able to serve a section 21 notice unless they do get the deposit protected.
• The Act also means that it is no longer necessary to re-register a deposit where the deposit was taken in respect of an AST after 6 April 2007, even when a SPT commences, provided that the landlord and tenant of the property remain the same, and that the deposit remains within the same scheme.

 

If you would like any advice on property law matters please email info@ha-law.co.uk or telephone 020 7788 7465 to speak to a HA Law Partner.

One of the primary purposes for this legislation is to level the playing field for small businesses by encouraging and helping them to grow, compete and innovate.However, the act will also focus on a range of other measures that will come into force in various stages over the next year, from May 2015 onwards.

Some of the changes that will be implemented with this new act will include:

• As of 26th May 2015, the prohibition of bearer shares (with a nine month transitional period for existing bearer shares)
• The general duties of directors as set out in the Companies Act 2006, from May 2015, will apply to shadow directors “where and to the extent they are capable of applying”
• Prohibition of corporate directors, with exceptions, as of October 2015 (with a twelve month transitional period for existing corporate directors)
• As of January 2016, unquoted companies are to keep a public register of people with significant control
• Private companies will be able to keep their statutory registers at the Companies House from April 2016
• Annual check-and-confirm “confirmation statements” will replace annual returns in April 2016

The Act also contains measures to simplify insolvency law, and prevent exclusivity clauses in zero hour countries which will stop individuals from working for another employer.

If you would like any advice on corporate law matters please email info@ha-law.co.uk or telephone 020 7788 7465 to speak to a HA Law Partner.

 

 

 

 

The Human Rights Act was introduced in 1998. It protects fifteen fundamental rights and freedoms, including the right to life, privacy and freedom of expression, which are all based on articles of the European Convention on Human Rights.

The proposals by the Conservatives to abolish this Act has been condemned by many, including the Scottish Government. SNP lead Nicola Sturgeon has spoken out on the matter stating “I oppose the repeal of the Human Rights Act, I think it’s an appalling thing to be doing. Human rights are there to protect all of us”. Human right experts are also alarmed, arguing that this radical change would affect those that are most vulnerable and would be one of the “greatest threats to freedom in Britain”, according to Shami Chakrabati, director of human rights group Liberty.

Getting rid of the Human Rights Act is one of the measures that David Cameron looks set to focus on in the first 100 days, after the Queen’s speech is delivered on the 27^th May. The proposal to be pushed ahead is for the Human Rights Act is to be replaced with a British Bill of Rights. This would mean the European Court of Human Rights would no longer be binding over the UK’s Supreme Court.

The proposed British Bill of Rights is supposed to include and protect many rights similar to that of European law, such as the right to a fair trial, the right to be protected from torture, and qualified “rights” such as the right to privacy.

While such a reform could “plunge the UK into a constitutional crisis”, it remains to be seen what the outcome of this proposal will actually be.

 

If you haven’t got a Lasting Power of Attorney (LPA) you should definitely think about getting one. 

What is an LPA?
A LPA is an important document that allows you to plan ahead and choose the people you would like to take control of your affairs when you lack the mental capacity to do this yourself or no longer wish to make decisions about these matters.

Who can make one?
Anyone who is aged over 18 and who has the necessary mental capacity can make an LPA. This means that you are deciding for yourself that you wish to make an LPA and you understand what this means.

Who can be an attorney?
You can choose whoever you want to be your attorney as long as they are over 18. It is important to carefully consider who you wish to appoint. It must be someone you know you can trust to make important decisions on your behalf, and whether that person is reliable and suitable for the role. You can have more than one attorney.

The two types of LPA
There are two different types of LPA:

• Property and Financial Affairs LPA
This allows your chosen attorney to take a range of actions in dealing with your property and financial affairs. For example, this could include selling a property, withdrawing money from your bank accounts, paying bills on your behalf or dealing with your investments.

• Health and Welfare LPA
This will allow your chosen attorney to make decisions about your personal welfare. For example, this could include deciding on where you should live, arranging medical treatment and consequently consenting or refusing such treatment on your behalf, and making a decision to turn off a life support system, or refuse life-saving treatment on your behalf.

Completing the forms and registration of the LPA
There are two forms that need to be completed for the two separate types. Both include guidance notes which are extremely useful and should be read carefully.
The Office of the Public Guardian (OPG) is responsible for the registration of LPAs. The current fee to register an LPA is £110.

 

The above represents only a general explanation about the LPA and the effect of making one. At HA Law we can offer our assistance. If you would like to discuss the options and requirements in connection with this matter please email info@ha-law.co.uk or telephone 020 7788 7654 to speak to a HA Law Partner.

 

http://www.theguardian.com/money/2015/mar/16/tories-1m-inheritance-tax-giveaway-sensitive-papers-wealthier-households