For businesses that lease premises, particularly those who operate in multiple locations, rent is one of the biggest fixed overhead costs and therefore it is no surprise that rent requests are being made. It is key, from both landlords' and tenants' perspectives, to be clear on what exactly is being asked for when the terms 'rent holiday', 'rent suspension' and 'rent deferral' are used, often interchangeably as if they mean the same thing.
Legal Insights & Industry Updates
Life, business and the law
The law never stands still, and the way it applies to you and your organisation is constantly evolving. Our people are on top of these developments and can keep you up to date with some of the most interesting aspects of these changes. Check out our articles and updates for our perspective on issues that might affect you.
One significant implication of the COVID-19 "lockdown" has been the effective closure of the Land Register of Scotland (the Register) to new applications since 24 March 2020 – and therefore the ability of parties to conclude the sale and purchase or long lease of, or the grant of fixed security over, commercial real estate (CRE). However, there are still ways to progress and complete such deals during this period.
Coronavirus – legal considerations when changing your business model from B2B to B2C, or distance selling
Many wholesale food and drink suppliers have turned to retail sales, with home delivery directly to consumers, while other high street retailers are now completely dependent upon internet and mail order sales. However, businesses switching from wholesale "business to business" sales to "business to consumer" sales or from "face to face" on their business premises to "distance" selling of goods and services need to comply with different laws and regulations.
In these unprecedented times, businesses are currently facing many challenges, including for their survival. Compliance with competition law is important, as the consequences of breaching competition law can be severe. Here we take a look at some of the key areas to be aware of.
The Chancellor has announced that the government will provide support for those who are self-employed. The assistance will be a taxable grant worth 80% of a self-employed person's average monthly profits for the last three years, up to a maximum of £2500 per month. HMRC have requested that if you have not already done so, you should submit your 2018/19 Tax Return by 23 April 2020, if you wish to be considered for this grant.