Corporate and Commercial

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What is Business Property Relief ? Business Property Relief can reduce the value of a business when calculating how much Inheritance Tax has to be paid. It was introduced to prevent the need for businesses to be sold in order to pay Inheritance Tax when an owner dies It is therefore important that business owners are aware of this valuable relief and take full advantage of it. This brief guide highlights the key principles involved with Business Property Relief, though because of its complexities it is...

Legal considerations when setting up a new business There are so many things you have to think about when setting up a new business. You have business plans to write, premises to buy or rent, finance to secure, staff to recruit, suppliers to find, marketing to carry out and branding to design; the list just goes on. But what about the legal considerations of setting up a new business? First, you need to decide what sort of legal structure will best suit...

Partnership agreement solicitors, Slee Blackwell, look at why it is so important for business partners to have a formal agreement.   If you are looking for experienced partnership agreement solicitors in Devon and Somerset then give us a call on 0808 139 1606 for a free initial chat about how we can help you. Alternatively, send an email to us at [email protected]   If you operate your business as a partnership and don't have a partnership agreement then you really should think about getting...

Commercial solicitor, Emma Reed, asks business owners, 'Is it time you updated your contract terms and conditions?' We provide a business contract terms and conditions review service and our experienced team can update your terms and conditions to ensure that they are suitable for the new world we are now living in. We can also assist with temporary agreements  side letters and deeds of variation. Call Emma Reed on 0808 139 1606 or send an email to [email protected] The issues that the COVID-19...

Commercial solicitor Emma Reed looks at the effect of Coronavirus on business contracts. It’s an uncertain time worldwide at the moment as the situation following the outbreak of Covid-19 unfolds. The news is constant and government advice changes daily. Boris Johnson has banned social gatherings, restricted movement and closed many businesses, including non-essential shops, pubs and restaurants. The impact on trade will be far-reaching as businesses attempt to cope with the new environment and keep themselves going. One area that is likely to be...

Commercial solicitor, Nick Arthur, who is based at our office in Barnstaple, North Devon, looks at the legal obligations of a director of a limited company. Company directors are often surprisingly uncertain about their duties and obligations. They are frequently that they effectively act as agents of the company, being appointed by the shareholders to manage the company's affairs on a day-to-day basis. As a general principle, the directors of a company should act together as a board. The board can however delegate powers to...

Emma Reed, a partner in Devon and Somerset firm Slee Blackwell Solicitors, considers whether a company requires a shareholders agreement If your company is set up and running smoothly but lacks a shareholders agreement to govern the understanding between the shareholders, what will you do if someone dies or wants to retire or leave ? Without a shareholders agreement in place, there are no default procedures to govern how such circumstances are to be dealt with. You could therefore find yourself locked in a...

Depreciation is not a deductible expense for tax purposes. Instead, the owners of qualifying commercial property can claim capital allowances as a method of providing tax relief on qualifying expenditure on certain assets (plant and machinery) used in a business. Qualifying Commercial Property Qualifying commercial property may include: shops offices hotels restaurants care homes pubs factories industrial units/warehouses Capital Allowances can be claimed when buying or developing such freehold properties, constructing new properties or developing leasehold properties. Qualifying Expenditure Broadly, qualifying expenditure can be defined...

Property owners letting their properties to holidaymakers risk breaching planning law rules, writes property solicitor Iain Robinson of Slee Blackwell Solicitors’ Barnstaple office. By way of background, one usually needs planning permission from the local council to materially change the use of a property. Residential, or ‘C3’ use, is where the property is used as a dwelling house by people who form a family unit (or by an individual). It need not be their only or even their main home. In...

Sam Hannon reviews the likely impact of this latest piece of legislation The long-awaited Guidelines for The Bribery Act 2010 have now been published. The Act will be in force from 1 July 2011, replacing the complicated, piecemeal offences at common law and Acts of Parliament dating back as far as 1889. The Bribery Act is intended to assist in combating bribery and corruption worldwide. Slee Blackwell Solicitors have undertaken a review of this controversial new law and its potentially serious...