In simple terms, Entrepreneurs' Relief (ER) is a relief from Capital Gains Tax (CGT) when an individual sells or disposes of all or part of their trading business.

It applies to a lifetime limit of £10 million of qualifying capital gains (after deduction of any related losses) in respect of which an individual or a trustee makes a claim and reduces the rate of tax applicable to that gain to 10%.

To claim ER, a number of conditions must be satisfied throughout a qualifying period and the qualifying conditions depend on the type of disposal.

A study from GQR for the Trade Union Congress (TUC) has shown that many employees are struggling to access the flexible working that they are said to require. Over half surveyed were not offered flexible hours and one in three said that their requests were turned down.

A Bare Trust is where an individual (the Trustee) holds assets on behalf of another person (the Beneficiary). The Beneficiary can ask for the return of the assets at any time and is treated as the absolute owner for tax purposes. Problems arise where there is no formal document setting out that, whilst the asset is in the Trustee's name, it really belongs to the Beneficiary.

The Tenant Fees Act 2019 came into force on 1 June 2019. It will apply to all new tenancies (defined below) from 1 June 2019 onwards, as well as tenancies which are renewed after that date. It does not apply to tenancies granted before 1 June 2019 which automatically convert to statutory periodic after that date. It also does not apply to Assured Tenancies.

Tenancies that are likely to be affected include:

In April 2019, the government announced plans to abolish Section 21 Notices. That prompted a consultation process, under which the Residential Landlords Association (RLA) sought input from landlords, agents, legal professionals and anyone else with experience of a possession claim. The RLA have now produced a report, which makes for very interesting reading.

Employers have a legal obligation to abide by the terms and conditions agreed with an employee as part of a settlement agreement. As a result, a breach of the terms of the agreement on the part of an employer can have a number of significant implications, potentially paving the way for damages claims to be brought by an employee for breach of contract. 

If you’ve been offered a settlement agreement (formerly known as a compromise agreement) or are on the verge of entering settlement agreement negotiations with your employer, you may be wondering what steps you can take to deliver the best possible outcome for you.

There are so many misconceptions about relationships and how a particular relationship status can effect a Last Will and Testament. Here are few common misconceptions that we have heard during clients meetings.  

“My Will has been revoked as I am divorced”

This is incorrect. Your Will is not automatically revoked upon divorce but rather your ex-spouse is treated as being deceased within the terms of the Will.  The remainder of your Will remains valid.