3 minute read
Legal Issues
Time To Get Back To Business
Many businesses may have experienced a significant reduction in work during this challenging period and the plans of many directors and employees may have been placed on hold as the UK awaits further easing of lockdown restrictions.
Thankfully, the Government has begun to lift some of these restrictions and has outlined a flexible plan to ease lockdown further in the coming weeks and months, based on scientific evidence.
As the UK returns to a new form of normality, now is the time to consider your legal affairs across a variety of areas.
To help you as you plan for the weeks, months and years ahead, some of the UK’s leading lawyers from London-based fullservice international law firm Mackrell. Solicitors are sharing their advice with US expats to help them navigate their way through this challenging period.
Property - Looking To Buy Or Sell? Now Is The Time The UK government has confirmed that home viewings and property moves are now permitted. This means that buyers and sellers can now begin to complete property transactions.
With the property market now re-opening, and the cost of borrowing at an all-time low, now is the time to take advantage of this situation. However, it is important that you seek professional assistance every step of the way whether you are selling or buying property, re-mortgaging or transferring equity. Employment - Managing Your Teams Return To Work Businesses must follow the COVID-19 secure guidelines and carry out appropriate risk assessments to ensure the safety of their workplace. It is a good idea, wherever possible, to include workers in these risk assessments.
It is also essential to establish proper communication channels with workers. During the consultation process, businesses should talk to those employees who are anxious about returning to work and try and resolve these concerns together.
Measures such as staggering arrival and departure times will ensure there are fewer people in the office at any one time and reduce public transport usage during peak hours. Social distancing guidelines - currently two metres - should also be adhered to where possible. Please do contact us for further advice and assistance
Businesses must follow the COVID-19 secure guidelines and carry out appropriate risk assessments to ensure the safety of their workplace. It is a good idea, wherever possible, to include workers in these risk assessments Both on the buyside and sell-side, COVID-19 has had an impact in two main areas
M&A - Buying And Selling In Uncertain Times Both on the buy-side and sell-side, COVID-19 has had an impact in two main areas. Firstly, due diligence. A buyer should undertake enhanced due diligence on a company to understand the impact that COVID-19 has had on the business and, importantly, how the company has changed and adapted.
Sellers should review their commercial contracts and internal processes (particularly regarding remote working) to ensure that they are prepared; this will give a buyer significant comfort.
Secondly, both buyers and sellers need to think carefully about deal structures. It is likely buyers are going to lean towards structures that place greater importance on earn-outs and deferred consideration rather than cash as much upfront.
Both buyers and sellers will, therefore, need to look at alternative structures that share the risk, for example, seller notes or escrow arrangements.
These points cover just some of the areas of your life that are likely to have been affected by the Coronavirus pandemic.
The team at Mackrell.Solicitors can help with these areas and many more via its fullservice offering – ensuring that you have the advice and legal support you need as you rebuild and recover following these testing times.
