On 1 August 2022, the UK government introduced the register of overseas entities (ROE) created under the Economic Crime (Transparency and Enforcement) Act 2022. Under the ROE, any anonymous foreign owner of a UK property have to reveal their identities. Once a foreign owner of UK property reveals their identity, they will then be able to buy, sell or transfer land or property in the UK.  The ROE was introduced to provide an extra layer of transparency allowing law enforcement agencies to investigate any suspicious wealth and combat financial crime, particularly money laundering, tax evasi ..read more

Under English law, the general position is that a parent company and its subsidiary are considered to be separate companies, and therefore have separate liability in terms of their acts and omissions. Accordingly, a parent company would not have a duty of care in relation to the activities of its subsidiaries.  However, there has been a paradigm shift In the UK where in certain cases parent companies of global organisations are progressively being held accountable by the English courts for the unlawful ethical breaches committed by their overseas subsidiaries. In the case of Vendata Resou ..read more

The terms ‘without prejudice’ and ‘subject to contract’ are commonly used by parties during settlement negotiations. What does ‘without prejudice’ mean? ‘Without prejudice’ is a legal term which is often used during negotiations to imply that any liability or fault cannot be attached to a statement or a proposed offer. Using the term means that the statement or offer cannot be used as evidence in court if a settlement cannot be reached. Any form of communication, be it emails, letters, telephone calls or meetings can be classed as without prejudice. There is no rule of where the ‘without pre ..read more

Selling a business can be a complex and financially significant transaction. To maximise profit while navigating this process, it’s crucial to have a solid understanding of the legal aspects involved. In this blog, we’ll explore key legal tips that can help you get the most out of the sale of your business. Plan Ahead Before you even think about selling your business, it’s essential to have a clear plan in place. Consult with legal experts who specialize in business transactions. They can help you assess your current legal and financial situation, identify potential issues, and develop a str ..read more

With millions of people renting their homes from private landlords, it is of paramount importance to ensure that there is fairness, stability and security within the private rented sector (PRS). On 16th June 2022, the government published the ‘A Fairer Private Rented Sector’ white paper, outlining its long-term goals to reform the private rental sector with the aim of providing better quality homes and reducing the threat of evictions increasing flexibility and security for tenants. Who will the proposals apply to? The proposals apply to all landlords who rent out private residential propert ..read more

Cryptocurrency or cryptoassets, also known as ‘crypto’, is a store of value which can be transferred or exchanged digitally. Once regarded as a niche asset, interest in cryptocurrency has gained widespread interest in the last few years as a form of investment. Last year, the UK Prime Minister, Rishi Sunak, who was at the time the UK finance minister, spoke of making Britain a “global hub for cryptoasset technology” which highlights the potential of cryptocurrency.  However, with opportunities there are always threats. There is a grey cloud over the regulatory framework governing digital ..read more

When you purchase a property or land in the UK, you may have to pay Stamp duty land tax (SDLT) which is a form of tax. This tax applies to properties regardless of whether it is a freehold or leasehold and whether you are purchasing with cash or with a mortgage.  To help first time buyers get onto the property market, the stamp duty land tax (SDLT) relief was introduced for first time buyers at Budget 2017. The objective of this relief correlates to the government’s commitment to support home ownership and first-time buyers by reducing the up-front costs associated to a property purchase ..read more

A company can raise capital by listing shares on the public exchange market through two methods: Initial Public Offering (IPO) and Direct Listing. Whilst an initial public offering (IPO), where new shares are created, underwritten and sold to the public, is more predominantly well known, a direct listing is less well known. A direct listing, also known as Direct Placement or Direct Public Offerings, is where no new shares are created and only existing shares are sold to the public. Any investors, shareholders, or employees holding shares of a company can directly sell their shares to the publi ..read more

An Initial Public Offering (IPO), also known as a flotation, is the process by which a company obtains a first listing of its securities on an investment exchange. This process converts a private company into a public company. During an IPO, a company can issue new shares for the public to buy and it can also represent an opportunity for shareholders, investors or founders to sell their existing shares. General considerations when carrying out an IPO When deciding on how to structure and plan for an IPO, the following factors need to be considered: The size of the company. The amount of cap ..read more

Just like with the .com bubble, new and revolutionary technology has given rise to a lot of financial opportunities for early investors. And with new technology, there is little regulation. And where there is little regulation, fraudsters find opportunity too. The crypto-markets have garnered notoriety for its laissez-faire economy, with many awarding it the nickname of a “wild, wild, West” of frauds and scams. Although cryptocurrencies are a lot more regulated now than they were last decade, it is still considered a relatively unregulated market, especially for financial instruments. The Unf ..read more