Commercial property landlords and COVID-19 – what are your options?

After the immediate shock of the lockdown and the March quarter day which came soon afterwards, commercial property landlords are taking stock and working out their options for the next few months. Landlords who take the right steps now, with the right advice, will have the best chance of preserving a strong portfolio for the future.   ‘Collaboration will be the key to surviving this economic shock,’ says David Hyams, commercial property solicitor with Ware & Kay in York.  ‘Commercial property tenants are leading the way with requests to defer rent and make other changes to their leases.’ Most commercial property landlords understand the need to work with their tenants but it is important to discuss any proposals with your solicitor, who will explain any long-term consequences and make sure any changes are properly documented. Rent…

COVID-19 furlough scheme update and key risks for employers

As the lockdown continues, the Government has extended access to its coronavirus job retention scheme and employers are settling in to a new way of working. Business life may have drastically changed, but employment law still applies. Gillian Reid, employment law expert with Ware & Kay in York highlights important developments to the furlough scheme and addresses three key risks facing employers. You should check the Government website for the latest guidance in conjunction with this article, as the guidelines on the coronavirus (COVID-19) are changing daily. The guidance and the Treasury direction are inconsistent in places. You should speak to your solicitor for specific advice for your business. Coronavirus job retention scheme update The HMRC online portal opened on 20 April to allow employers to claim the grant covering some employment costs while staff are…

Beware increased fraud risk during the coronavirus – nine scams to watch out for

Unfortunately, alongside all the goodwill and community spirit which is coming to the fore during the current crisis, the coronavirus pandemic will also be seen as an opportunity for criminals and fraudsters. Action Fraud have advised that fraudsters will use any opportunity they can to take money from people. This includes exploiting tragedies and global emergencies and preying on the kind nature of people. Everyone needs to be extra vigilant at this time and watch out for scams such as these. 1. Tricking you into revealing personal information Watch out for suspicious and unexpected emails or text messages asking you to: update your details; click on a link to approve or validate something; or login to your account via a link. 2. Tricking you into handing over your bank card and pin number Take…

Content sources for Government support for UK businesses during the coronavirus pandemic – as at 30 March 2020

Business owners should take advice from an expert commercial solicitor on specific contracts and how the issues set out could apply to their own business.  There are a number of sources of information on the internet that can be consulted for more general guidance some of which will be updated on a regular basis. General guidance can be found by navigating from the Government website. Sources of specific support are listed below in alphabetical order by topic and include: Accommodation providers Bank lending Business loan interruption scheme Business rates Business rates review Business rents Business support grant funding Businesses trading internationally Compulsory closure of businesses: www.gov.uk/government/publications/further-businesses-and-premises-to-close?utm_source=77e9a975-dcba-4146-b1f9-d36e8d01465f&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate www.gov.uk/government/news/government-sets-out-plans-to-enforce-closure-of-businesses-and-other-venues--2 www.gov.uk/government/publications/further-businesses-and-premises-to-close/further-businesses-and-premises-to-close-guidance Corporate financing facility: www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-larger-firms-through-the-covid-19-corporate-financing-facility www.bankofengland.co.uk/markets/market-notices/2020/ccff-market-notice-march-2020 Data protection…