Webinar – Importance of getting specialist legal and tax advice for wills and probate

OGR Stock Denton LLP would like to invite you to join our live webinar on the Importance of getting specialist legal and tax advice for wills and probate

4.30pm, Tuesday 23rd June 2020

Zoom webinars

The current coronavirus outbreak is an obvious concern for many, and the unfortunate reality of the situation is many of those people who will die as a result of the virus will not have made a Will.

Join our webinar where our experts discuss the benefits of getting proper legal advice and share experiences where they have helped clients structure their wills to save tax and protect their wealth.

Hosted by Priti Shah, partner and chartered tax adviser, alongside speakers Richard Denton, Jamie Romer and Tim Crook.

This interactive discussion will have an open Q&A for you to ask any questions relating to your personal situation.

If you would like to join this webinar, please email Ali Kabani:

akabani@ogrstockdenton.com

 020 8349 5514

Webinar – Contentious issues in Wills and Probate during COVID-19

OGR Stock Denton LLP would like to invite you to join our live webinar on the Contentious issues in Wills and Probate during COVID-19…a conversation and Q&A

4.30pm, Tuesday 16th June 2020

Zoom webinars

Join our webinar where our panel of experts consider the various issues in Wills and Probate during COVID-19 for both individuals and practitioners.

Hosted by Ian Pearl, Partner in Dispute Resolution and guest speakers Richard Denton, Partner in Private Client and barrister Sarah Harrison of Parklane Plowden Chambers.

Areas of discussion will include:

– Execution of a will during COVID-19

– Mental capacity in wills including the impact of grief

– Inheritance act claims

– Advantageous tax strategies

This interactive discussion will have an open Q&A for you to ask any questions relating to your personal situation.

If you would like to join this webinar, please email Ali Kabani:

akabani@ogrstockdenton.com

 020 8349 5514

Self-Employment Income Support Scheme (SEISS) extended

The Chancellor has confirmed the extension of the Self-Employment Income Support Scheme (SEISS), with the announcement of a second and final grant to support the income of self-employed individuals during the Coronavirus outbreak.

The first and current round of grants under the scheme allows self-employed individuals to claim a taxable grant worth 80 per cent of three months’ average monthly trading profits, capped at a total of £7,500 and paid in a single instalment.

It has seen 2.3 million claims to date, collectively worth £6.8 billion.

Applications for this round of grants will close on 13 July 2020. However, the Chancellor has now announced that self-employed individuals will be able to claim a second grant in August. This will be worth 70 per cent of three months’ average trading profits and will be capped at £6,570 in total, also paid in a single instalment.

Individuals do not need to have claimed the first grant to be able to claim the second.

Unlike the Coronavirus Job Retention Scheme (CJRS) for employees, self-employed individuals may continue working, begin a new trade or take on new employment while in receipt of a grant.

The full criteria for qualification for the scheme remain unchanged. Applicants must:

  • Be self-employed or a member of a partnership;
  • Have lost trading/partnership trading profits due to COVID-19;
  • File a tax return for 2018-19 as self-employed or a member of a trading partnership;
  • Have traded in 2019-20; be currently trading at the point of application (or would be except for COVID-19) and intend to continue to trade in the tax year 2020 to 2021; and
  • Have trading profits of less than £50,000 and more than half of their total income come from self-employment. This can be with reference to at least one of the following conditions:
    • Trading profits and total income in 2018-19
    • Average trading profits and total income across up to the three years between 2016-17, 2017-18, and 2018-19.

The scheme is not available to people working through their own limited companies.

Further details about how to apply for the second and final grant will be announced on 12 June 2020.

Webinar – Legal issues for businesses COVID-19

OGR Stock Denton LLP would like to invite you to join our live webinar on the Legal Issues for Businesses during COVID-19

10am, Friday 5th June 2020

Zoom webinars

Join our live session where our panel of experts consider the various issues for businesses in light of COVID-19 including:

  • Enforceability of Commercial Contracts
  • Top tips for Commercial Tenants
  • Top tips for businesses to recover Debt
  • Employment issues for businesses to consider

The webinar will be hosted by Ian Pearl, who will be joined by Robert Rosenberg, Susan Bernstein and Stephen Silverman.

This interactive discussion will have an open Q&A for you to ask any questions relating to your business or personal situation.

If you would like to join this webinar, please email Ali Kabani:

akabani@ogrstockdenton.com

 020 8349 5514

Money laundering supervision payment deferrals and deregistration announced by HM Revenue & Customs

Businesses that require money laundering supervision from HM Revenue & Customs (HMRC) can receive a six-month payment deferral or deregistration where an annual fee is due between 1 May and 30 September 2020, it has been announced.

HMRC is the money laundering supervisory authority for:

  • money service businesses not supervised by the Financial Conduct Authority (FCA)
  • high value dealers
  • trust or company service providers not supervised by the FCA or a professional body
  • accountancy service providers not supervised by a professional body
  • estate agency businesses
  • bill payment service providers not supervised by the FCA
  • telecommunications, digital and IT payment service providers not supervised by the FCA
  • art market participants.

Businesses in these sectors must pay an annual renewal fee of £300 in respect of each premises covered.

However, on receipt of the reminder notification from HMRC they can now choose either to pay in the normal way or to pay at any time in the following six months.

Businesses that have closed and stopped all activity subject to the Money Laundering Regulations owing to the Coronavirus crisis can opt to deregister for supervision and reregister when they resume. However, Money Service Businesses, Trusts and Company Service Providers cannot trade until the reregistration process is complete.

Maximum Government-backed loan amount for larger businesses increased to £200 million

The Government has announced an increase in the maximum amount that larger businesses can borrow under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million.

CLBILS loans are offered on normal commercial terms, but are backed by a Government guarantee worth 80 per cent of the amount borrowed. They can be accessed through the 12 accredited lenders for the scheme by the British Business Bank.

The increase will come into effect from Tuesday 26 May 2020 and will mean that larger businesses can borrow up to 25 per cent of turnover, subject to a maximum of £200 million.

At the same time, the Government has introduced restrictions on dividends, share buybacks and executive pay for firms benefiting from CLBILS loans of more than £50 million.

The restrictions will also apply to large businesses accessing the Bank of England’s Covid Corporate Financing Facility (CCFF).

More details about these restrictions are expected to be set out by the British Business Bank on 26 May 2020.

Coronavirus Future Fund open to applications

The Future Fund, which offers convertible loans of between £125,000 and £5 million to innovative companies facing financial difficulties as a result of the COVID-19 pandemic has opened.

The fund is designed to support UK-based companies that have acquired at least equal match funding from private investors.

Aimed specifically at businesses that typically rely on equity investment, the fund is a lifeline for firms that cannot access other forms of Government business support because they are either pre-revenue or pre-profit-based.

To be eligible a business must:

  • be UK-incorporated – if a business is part of a corporate group, only the parent company is eligible
  • have raised at least £250,000 in equity investment from third-party investors in the last five years
  • not had any of its shares traded on a regulated market, multilateral trading facility or other listing venue(s)
  • have been incorporated on or before 31 December 2019.

Businesses will also need to demonstrate that at least one of the following is true:

  • half or more employees are UK-based
  • half or more revenues are from UK sales.

The Future Fund is being delivered by the British Business Bank and will remain open until September.

A Convertible Loan Agreement has been created for those who intend to apply, which can be found here. Further details of this loan scheme and how to apply can be found on the British Business Bank website.

Webinar – Impact of Covid19 on Cohabitation Cases involving Schedule 1

OGR Stock Denton LLP would like to invite you to join our live webinar on the Impact of Covid19 on Cohabitation Cases involving Schedule 1

4.30pm, Wednesday 27th May 2020

Zoom webinars

The lockdown is proving to be a pivotal time for all families, regardless of formal status.

Join our live interactive discussion on the impact of lockdown on unmarried parents with children, and as the restrictions begin to ease, how cohabitant claims for financial provision for children may arise now and in the longer term.

This webinar will offer pragmatic and effective solutions to the challenges that lie ahead for those practising in this complex area of family law, with a particular focus on medium as well as high net worth cases.

Hosted by Graeme Fraser, Partner and Head of Family for OGR Stock Denton and guest speaker Claire Heppenstall, barrister and arbitrator at 1GC Family Chambers.

If you would like to join this webinar, please email Ali Kabani:

akabani@ogrstockdenton.com

 020 8349 5514