vLex United Kingdom

  • United Kingdom Supreme Court hands down 5 new judgments

    The United Kingdom Supreme Court has handed down judgment in five matters. The cases involved covered a range of topics including jurisdiction to recover sums paid under a settlement agreement relating to the loss of an insured vessel and the potential vicarious liability of a bank for sexual assaults. Full details of each judgment can be found here.

    Apr 1, 2020 10:24 AM

  • Network of priority courts to remain open during the coronavirus pandemic

    Her Majesty's Courts and Tribunals Service has announced the set up of of a system of priority courts across England & Wales during the pandemic. The temporary measures aim to ensure that the justice system continues to function by a combination of technology and keeping a certain core selection of courts open. Full details of the structure can be found here. here.

    Apr 1, 2020 8:52 AM

  • Emergency Covid-19 legislation becomes law in UK

    The Coronavirus Bill become an Act of Parliament in the UK on Wednesday 25 March. The bill gives the government wide-ranging powers, unlike any other recent legislation, including powers to support frontline staff (such as healthcare professionals and social workers) and measures to contain and slow-down the spread of the virus. A copy of the Act can be found here.

    Apr 1, 2020 8:39 AM

  • More detail about the UK Coronavirus Job Retention Scheme

    Yesterday, HMRC issued more guidance about the new Coronavirus Job Retention Scheme.  Our employment colleagues have produced this alert covering: Who can claim under the scheme? Which employees are covered What costs will be covered? Dealing with different types of employees i.e. those on sick leave, maternity leave, volunteering or on unpaid leave The rights... (See Article)

    Apr 1, 2020 8:37 AM

  • United Kingdom’s CMA Issues Guidance to Businesses on Co-Operation During the Crisis

    As we reported here, the UK government announced that, as part of a package of measures to allow UK grocery supermarkets to work together to feed the nation during the COVID-19 crisis, certain provisions of UK competition law will be relaxed temporarily for the domestic food sector. The CMA has now published a document setting... (See Article)

    Apr 1, 2020 8:37 AM

  • COVID-19: Construction Industry - Operating in a Pandemic

    The current pandemic is having a serious impact on construction operations across the globe and our COVID-19 Global Task Force is here to guide our clients through a full spectrum of practical solutions. The Construction industry should continue to follow the most up to date government guidance and trade bodies such as Build UK are offering guidance on a daily basis on this ever-evolving climate. (See Article)

    Apr 1, 2020 8:33 AM

  • Alert: UKIPO Extends Deadlines in Response to COVID-19 Pandemic

    In response to the disruption caused by COVID-19, the UK Intellectual Property Office (UKIPO), which is the official government body responsible for intellectual property rights in the UK, has declared 24 March 2020, and subsequent days until further notice, "interrupted days." This means that any deadlines for UK trade marks, designs, patents and supplementary protection certificates, as well as applications for these rights, that fall on an interrupted day will be extended until the UKIPO notifies the end of the interrupted days period. The UKIPO will provide a minimum of two weeks' notice before ending the interrupted days period. (See Article)

    Apr 1, 2020 8:33 AM

  • Lack of scheme for mid-tier businesses: should the UK Government re-think it’s Covid-19 financial support package?

    As you may have noted from our blog yesterday, one of the main concerns with the UK Government’s current package of support to business is that the eligibility criteria for the Covid Corporate Financing Facility (CCFF) scheme and the Coronavirus Business Interruption Loan Scheme (CBILS) respectively leave a large number of mid-cap businesses unable to... (See Article)

    Apr 1, 2020 6:36 AM

  • Coronavirus Job Retention Scheme in the UK (updated position as at 27 March 2020)

    On 20 March 2020, the chancellor, Rishi Sunak, announced the Coronavirus Job Retention Scheme (the Scheme) as part of the UK government’s measures to help support businesses through the current COVID-19 pandemic. Brief guidance followed after the announcement, with more detailed guidance released on the evening of 26 March 2020. There is a lot we... (See Article)

    Apr 1, 2020 6:36 AM

  • UK Pensions Regulator Guidance on Coronavirus

    The Pensions Regulator (“tPR”) has released guidance on issues which occupational pension schemes may face as a result of disruption caused by COVID-19. To read the full update, please visit our website. If you wish to receive periodic updates on this or other topics related to the pandemic, you can be added to our COVID-19 “Special Interest”... (See Article)

    Apr 1, 2020 6:36 AM

  • Adapting to change is business as usual: keeping you connected throughout the pandemic

    The client money regime Over the coming weeks, partners from our financial services team will be sharing with clients and contacts a series of video diaries setting out their views on the latest developments in respect of COVID 19 impacts in the various areas of financial services. In our second video diary, Hannah Meakin provides... (See Article)

    Apr 1, 2020 6:36 AM

  • Covid-19 coronavirus: A cross-jurisdictional update on the impact Covid-19 is having on tax regulations

    Various support measures have been implemented by global tax authorities to protect vulnerable businesses and individuals. The measures are primarily concerned with deferring existing and upcoming tax liabilities, so as to allow for payment at a later date and minimise commercial vulnerability due to cash flow and liquidity issues. (See Article)

    Apr 1, 2020 6:33 AM

  • Coronavirus: Actions For Pension Trustees

    The COVID19 crisis has changed the landscape for pension scheme trustees. This note discusses the potential impacts and actions trustees should consider taking in relation to the following areas. Please see full Publication below for more information. (See Article)

    Apr 1, 2020 6:33 AM

  • Contractual Implications of the COVID-19 Pandemic – Can it Excuse a Business from Performance of Contractual Obligations Under Contracts Governed by English Law?

    The continuing COVID-19 pandemic is causing significant disruption across the globe with governments implementing a variety of measures, including travel restrictions, nationwide lockdowns and the cancellation of large-scale events, in an attempt to curb the spread of the virus. Such unprecedented measures mean that businesses around the world are now faced with the question of whether they will be able to perform their contractual obligations. (See Article)

    Apr 1, 2020 6:33 AM

  • UK Antitrust Authority Issues Guidance on Business Cooperation During Pandemic

    New guidance from UK Competition and Markets Authority allows coordination between businesses in certain circumstances, such as to avoid shortages, protect the public interest, and safeguard health, amid the coronavirus (COVID-19) pandemic. (See Article)

    Apr 1, 2020 6:33 AM

  • Alert: COVID-19 Updates for UK + European Capital Markets: FCA, FRC + PRA Joint Statement, AIM Guidance and ESMA Public Statement

    In light of the COVID-19 pandemic, several key updates for UK and European capital markets have recently been released, focusing primarily on financial reporting, including a joint statement by the Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA), an Inside AIM publication by the London Stock Exchange (LSE) and a public statement from the European Securities and Markets Authority (ESMA). (See Article)

    Apr 1, 2020 6:33 AM

  • Update on Status of US-UK 123 Agreement Regarding Nuclear Trade

    As we reported in 2019, the United Kingdom’s withdrawal from the European Union, which occurred on January 31, 2020, included the United Kingdom’s exit from the European Atomic Energy Community (Euratom). Exports of nuclear materials, goods, and services from the United States to each of the 27 member countries of Euratom are governed under the… (See Article)

    Apr 1, 2020 6:33 AM

  • ‘Fitness for Purpose’ and Conflicting Obligations in Offshore Wind Projects

    Two recent cases in the UK illustrate the tricky issues Employers and Contractors have to grapple with in defining the responsibilities of contractors involved in the construction of offshore wind projects. There are no established standard form contracts for offshore wind farm projects. (See Article)

    Apr 1, 2020 6:33 AM

  • Coronavirus Update: UK Government Announces Proposed Changes to UK Insolvency Law

    Our London Finance team discuss the two main reforms to the UK insolvency regime and what protections British businesses can expect to receive. - Restructuring plan and moratorium - Wrongful trading measures - Other recent announcements to support business. (See Article)

    Apr 1, 2020 6:33 AM

  • Brave New World: HMRC Implements Temporary Electronic Submission for Stamp Duty Applications

    On 25 March 2020, HMRC announced that stock transfer forms and other transfer instruments should no longer be posted to the HMRC Stamp Office, due to COVID-19 measures. Effective immediately, all documents for stamping should be submitted electronically, together with scans of the instruments to be stamped and details of the transaction and electronic payment. This includes stock transfer forms, Form SH03s in respect of share buybacks, and instruments transferring beneficial interests. Further clarification may follow on adjudications for relief (e.g. group relief). (See Article)

    Apr 1, 2020 6:33 AM

  • Commercial Contracts Governed By English Law: How To Get Out Of Your Obligations, Or Make Sure Your Opponent Keeps To Theirs!

    The COVID-19 crisis has set in train a cascade of events that will impede, delay or prevent performance of many contracts in the coming months. Businesses are likely to face pressure from many directions: shortages of materials, shortages of staff, limitations on movement of personnel, restrictions on conducting operations, other legislative and administrative actions, and the insolvency of contractors, subcontractors and suppliers, to give only what is ultimately likely to be a limited set of examples... Please see full Publication below for more information. (See Article)

    Apr 1, 2020 6:33 AM

  • 10 FAQs for UK Employers Responding to the Coronavirus Job Retention Scheme

    As governments across the globe announce emergency measures to stop and contain the impact of COVID-19, employers are also taking urgent steps to manage its financial impact and to survive, by cutting employment costs. A raft of emergency legislation is currently passing through the UK Parliament to combat the crisis, including support for employers aimed at saving jobs under the Coronavirus Job Retention Scheme (JRS). (See Article)

    Apr 1, 2020 6:33 AM

  • Climate change disclosures for premium-listed companies on the London stock exchange

    Climate change is now a regular feature of boardroom discussions. Companies have acknowledged that it will directly impact their business, with the former Bank of England Governor Mark Carney recently noting that “changes in climate policies, new technologies and growing physical risks will prompt reassessments of the values of virtually every financial asset”. However, climate change is beyond just an asset valuation issue. Investors and other stakeholders are keenly interested in the policies that companies are adopting to confront it and are using that information to make investment decisions... (See Article)

    Apr 1, 2020 6:33 AM

  • Database and Network Journal

    Issue number #50-1 (February 2020) of publication Database and Network Journal is now available

    Apr 1, 2020 4:51 AM

  • The Law Society for England and Wales calls for Bank of England support for large law firms

    The Law Society, the representative body for solicitors in England and Wales, has called for the Bank of England to extend support to law firms during the Covid-19 pandemic. The Bank of England provides the Covid Corporate Financing Facility which offers short-term emergency loans, but the Law Society is concerned firms which operate as partnerships may not be eligible. Details of the Bank's scheme can be found here.

    Mar 31, 2020 10:00 AM

  • FCA statement on UK markets

    On 23 March 2020, the FCA issued a short statement on UK markets explaining why it has so far not introduced a ban on short selling. The statement provides: “The FCA continues closely to monitor market activity, including short selling activity. Aggregate net short selling activity reported to FCA is low as a percentage of... (See Article)

    Mar 31, 2020 8:35 AM

  • What UK tax measures and announcements have been made to date?

    This note provides a more detailed look at what tax measures and announcements have been made to date covering: VAT, self assessment income tax, time to pay, non-statutory clearances, pension schemes, statutory residence test, stamp duty (transfer of shares and applications for group relief). It also highlights other measures that we could see to address the... (See Article)

    Mar 31, 2020 8:35 AM

  • COVID-19 hits UK Ombudsman services

    The Pensions Ombudsman (“PO”), the independent body that investigates complaints about pensions’ administration, has announced that it will not be able to process any new complaints for the foreseeable future. The COVID – 19 lockdown has meant that the PO can no longer collect or deal with post, although phone lines remain open between 10.00... (See Article)

    Mar 31, 2020 8:35 AM

  • Measures to Protect Against Predatory Conduct

    Perhaps the first authority to warn about the perceived risks, the UK’s CMA issued a warning on 6rh March 2020 to traders about taking advantage of the COVID-19 pandemic.  CMA chief executive Andrea Coscelli said: “We urge retailers to behave responsibly throughout the coronavirus outbreak and not to make misleading claims or charge vastly inflated... (See Article)

    Mar 31, 2020 8:35 AM

  • UK Government Announces Emergency Employment Protection Measures

    The support will be backdated to 1 March 2020 and will be open for an initial three-month period. The UK government announced on 20 March 2020 certain emergency protective measures which it billed as “unprecedented”, and which are aimed at stalling job losses and encouraging employers to retain staff during the COVID-19 crisis. In summary, any UK employer (regardless of size) will be able to apply to HM Revenue and Customs for a grant via a new job retention arrangement. This grant will cover a proportion of wages of any employee who is on UK payroll and who is asked not to work due to the COVID-19 crisis. This support will extend to cover 80% of an eligible employee’s salary up to £2,5 (See Article)

    Mar 31, 2020 8:32 AM