Can a company director be furloughed under the Coronavirus Job Retention Scheme?
Furlough leave was a concept that was foreign to the majority of the British population just a few weeks ago. However, since the announcement of the Coronavirus Job Retention Scheme on 20th March 2020, it is now a term synonymous with the COVID-19 pand …
Franklins First for Your Success…Legal Due Diligence
“I’ve looked at the accounts and everything seems to be okay”. Unfortunately, when discussing the prospect of legal due diligence this is often the response that I receive. The caveat “buyer beware” applies to your transaction and the onus is on you t …
Furlough Leave & Holidays
Many employers have now taken advantage of the Coronavirus Job Retention Scheme, placing employees on furlough leave to allow them to be eligible to recover a grant of up to £2,500.00 gross per month (or 80% of the employee’s wages, whichever is lower) …
Tenant’s Break Clause – What should you consider?
What’s a ‘Break Clause’ A break clause is effectively a ‘get out clause’ allowing a tenant to terminate its lease before the expiry of the contractual term. It’s important for a tenant to secure a break clause within its lease, as it’s difficult to pre …
The Coronavirus Crisis – How our Commercial Services Team has been helping clients
The Commercial Services Team here at Franklins have been working closely with our clients to help alleviate business pressure during the Coronavirus pandemic. These unprecedented times have, undoubtedly, placed undue constraints on business relationshi …
Residence Nil Rate Band has increased to £175,000 – Q&A
As of today, 6th April 2020, the Residence Nil Rate Band (RNRB) has increased to £175,000 per person. Q: So, what is the Residence Nil Rate Band? A: The RNRB is an additional inheritance tax allowance which came into force in April 2017. The allowance …
The Parental Bereavement Leave Regulations 2020
From 6th April 2020, employees who lose a child under the age of 18, or suffer a stillbirth after 24 weeks of pregnancy, are now entitled to two weeks’ statutory leave. Employees can choose to take two separate one-week blocks of leave, as long as it i …
Directors’ Duties following Coronavirus – where do you stand?
The UK’s business secretary has announced the Government’s proposed changes that it intends to make to the Insolvency Act 1986 (the “IA 1986”) in light of the Coronavirus pandemic. Christopher Buck, Associate Partner in the Business Services team here …
Will writing in the current pandemic
In light of current circumstances with COVID-19, the Law Society and Ministry of Justice are currently reviewing the requirements around witnessing wills, in an effort to make is easier for individuals to sign their wills during these uncertain times. …
Business Interruption Loan Scheme – Government raises concerns over lenders’ willingness to co-operate
The Government and businesses alike have raised concerns over lenders’ willingness to grant loans via the Government’s Business Interruption Loan Scheme (the “Scheme”). Speaking at Downing Street yesterday evening, the Business Secretary, Alok Sharma, …
