As we step into 2025, the Economic Crime and Corporate Transparency Act 2023 brings several crucial updates aimed at enhancing corporate transparency, protecting personal information, and combating economic crime. These changes are set to impact businesses across the UK significantly. Here, we explore the key updates and their implications.
Continue ReadingBermans corporate partners Charlotte Mills and Laura McMorland and solicitor Nathan Hughes recently advised on a double buyout.
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Robin Hastings
The utilisation of Employee Ownership Trusts (EOTs) as a way of exiting a business has grown massively in recent times. This is partly due to the considerable tax benefits it can propose for a selling shareholder, but also because of the long-term advantages it can create for the business subject to the sale.
This article summarises EOTs typical structures and highlights some of its key advantages– for both the selling shareholders and the company being sold.
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Partner
Charlotte is a Partner in the Corporate team and is based in the Manchester office. She has spent more than 20 years working as a solicitor in the Northwest, supporting owners and managers of business.
Being a Corporate specialist, she advises on a range of matters including:
Her core specialism is in acting for sellers of businesses; supporting them through the complex process and ensuring they achieve the best outcome for their specific circumstances.
Charlotte focuses on providing bespoke advice, tailored to each client and their individual requirements. She aims to provide the highest possible level of client care, getting to know each client and their business to deliver the desired goal.
Notable transactions she’s advised on in recent years include:
Corporate team at law firm Bermans advises on sale of RoBAT to Swedish hi-tech company
Bermans Oversees Buyout of North Wales Haulage and Vehicle Servicing Business
Contact Charlotte:
E: charlotte.mills@bermans.co.uk
T: 0161 827 4614
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Faizan Nayyar
The government has recently introduced new laws aimed at tackling corruption, money laundering and fraud involving corporate entities. The Economic Crime and Corporate Transparency Act 2023 (the Act) received royal assent on 26 October 2023, and aims to reform the way in which economic crime is tackled and to improve the transparency over corporate organisations.
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Palma Percze
In the budget in March 2021, it was announced that Corporation Tax would be increased incrementally to 25%. After some uncertainty in the past year, as to whether this would proceed, the first increase took effect from 1 April 2023.
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PartnerLaura joined Bermans in March 2023 and is a Partner in the Corporate team based in our Manchester office.
She obtained a degree in law at the University of Aberdeen and qualified as a solicitor in 2008. Laura has extensive corporate finance experience having worked previously in the corporate finance departments of two large Scottish law firms.
Laura’s most recent experience in-house in a head of legal transactions role means that she has experience of being in a client’s shoes and understands what a client is looking for from its legal advisors.
Laura specialises in mergers and acquisitions, private equity, reorganisations and general company law matters, with experience acting for companies, shareholders and private equity institutions.
Email: laura.mcmorland@bermans.co.uk
Tel: 0161 827 4608
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In May 2021, the white paper, ‘Scaling Up Institutional Investment For Place-Based Impact’ (the “White Paper”) was published by The Good Economy, Impact Investing Institution and Pensions for Purpose. The White Paper outlined how a ‘place-based’ approach of investing (as already favoured by public and social investors), could be extended to institutional investors who currently invest in mainstream global capital markets. The focus of the research was on investments made by Local Government Pension Schemes (“LGPS”), which have assets with a combined value of £326 million, and how the funds could be used to develop explicit place-based strategies while creating positive financial returns.
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AssociateNathan Hughes joined Bermans in February 2022 and is an Associate in our Corporate and Commercial teams.
He works with SME’s and owner managed businesses and is experienced in corporate law, merges and acquisitions, corporate finance and investments, company law and business advice.
Nathan studied Law with Philosophy at The University of Liverpool and qualified as a solicitor in 2021.
Outside of work, he has an interest in castles and has visited many in Wales and England, with his personal recommendation being Harlech Castle in North Wales. He also enjoys playing guitar and science fiction.
E: nathan.hughes@bermans.co.uk
T: 0161 393 7124
Becky Tsang
The National Security and Investment Act 2021 (the “Act”) came into force on 4 January 2022, giving the UK government an additional screening process on the grounds of national security.
The Act covers a broad range of transactions, requiring mandatory notification if it is connected to one of 17 key sectors.
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