Recent changes in legislation, as part of Government policy to encourage first time buyers and owner – occupier purchases, have focused on the position of buy to let landlords.
As from April 2017 the reduction of tax relief on finance costs to the basic rate of tax will begin to be phased in and this will be fully in place from April 2020. In November guidance was given on the increases in Stamp Duty Land Tax (SDLT) which were first announced a year earlier .The position is as follows:
You are about to sue a customer for unpaid invoices, or a supplier for faulty goods or services – or maybe they are suing you. The case will be disputed.
You are confident you will win but you need to know if you can recover your legal costs.
Of course, you also need to know the position on costs should you lose the case.
The Insolvency (England & Wales) Rules 2016 will come into effect on 6 April 2017. One of the aims of the 2016 Rules is to modernise and simplify the 1986 Rules and to encourage the use of modern technology, particularly with regard to communications with creditors by email and via the use of websites and with regard to the holding of meetings.
Alissa is a Partner in our asset based lending team, acting for both financial institutions as well as corporate borrower clients. Since joining Bermans in 2017, she has undertaken a broad range of banking and finance work including invoice finance, asset finance and general corporate finance.
Alissa graduated from Liverpool University with a law degree before qualifying as a solicitor in 2010.
Alissa has a keen interest in live music and travelling, and have previously spent time travelling Thailand, Australia and Fiji.
Andrew joined Bermans in January 2017 as a Partner based in Manchester, becoming Head of Litigation and Dispute Resolution in 2022.
Andrew studied law at University College, Oxford and The College of Law, Guildford, before qualifying as a Solicitor in 1987.
Andrew advises for owner-managed businesses, professional practices, insolvency practitioners, property developers, secured lenders and individuals.
He specialises in property litigation, shareholder and partnership disputes; litigation for secured lenders; contract disputes; professional negligence and insolvency.
Outside of work, Andrew enjoys football (both playing 5-a-side and watching Manchester City); running; walking/climbing; music and learning to play the piano. Plus he is a member of the Manchester Law Society.
New studies have found that Grandparents could increase the financial benefits and legally reduce the effects of Inheritance Tax of their inheritances by thousands when gifting monies before their death.
The Department for Business, Innovation & Skills (“BIS”) announced its intention to bring forward legislation outlawing bans on assignment in commercial contracts as long ago as December 2014.
On 12 September 2016 the Law Commission published its final report containing proposals to modernise the archaic Bills of Sale regime. The driver for reform was the increased use of logbook loans in the consumer vehicle finance market, but the registration of whole turnover invoice finance agreements with sole traders and partnerships as Bills of Sale also fell to be considered.
There remains a degree of confusion as to the extent to which invoice financiers are affected by the provisions of the Consumer Credit Act 1974 as now amended by the Financial Services and Markets Act 2000. This is not helped by the fact that some of the statutory provisions are amongst the most opaque anywhere on the statute book, which is largely as a result of the piecemeal way in which the various European directives have been incorporated into UK law over the last 30 years.
There was considerable disappointment amongst invoice financiers who operate factoring facilities when the Court of Appeal rejected the recent attempt to strengthen a funder’s position against a debtor who remained silent about a historical rebate claim which only emerged after the demise of the client.
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