6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Directors Briefing from Royds Withy King

PUBLISHED: 16:17 20 September 2016 | UPDATED: 11:42 21 September 2016

Royds Withy King

Royds Withy King

Archant

Royds Withy King provides directors with a round-up of the latest developments affecting trade marks, company assets, break clauses and more…

DIRECTORS BRIEFING: Solicitors from Royds Withy King in Oxford have compiled a Directors’ Briefing to help business owners keep on top of the latest legal developments which may affect their working practices and home life.

Brexit and the implications for Intellectual Property (IP)

While there is still much uncertainty over the implications of Brexit, from an IP point of view there is likely to be a conversion process so that existing EU registered trade marks and designs can be converted into national UK rights while also remaining in force for the rest of the EU.

However, it would be wise for existing owners of EU trade marks and registered designs to consider making separate applications for UK trade mark or design protection, if the UK is an important market. For business owners considering filing new EU trade marks or registered designs, bear in mind that the EU trade mark or registered design route is not currently future proof to protect the UK market so it may now also be worth filing for a UK trade mark or UK registered design.

For advice, please contact Jessica Bent in the Technology and Media team at jessica.bent@roydswithyking.com

Jessica BentJessica Bent

Don’t assume you can claw back rent paid in advance

Business tenants who are thinking of exercising a break clause in their commercial lease should carefully check the provisions as they may not be entitled to recover rent they have paid to the landlord in advance which relates to a period after the break date. Case law has shown that unless a break clause specifically allows for repayment, there is no requirement on the landlord to repay rent paid in advance. With most leases requiring advance payments, this could amount to a substantial sum which you might have been banking on.

To discuss your lease or other commercial property issues, please contact Ruth Bowen at ruth.bowen@roydswithyking.com

Ruth BowenRuth Bowen

What happens to company assets if a sole director dies?

Sole directors, who are also the only shareholders, enjoy complete autonomy over their company, but what does this mean if the worst should happen? If a sole director dies, and in the absence of a company secretary, the company is left without anyone to lawfully make decisions on its behalf. If the company has assets which need to be sold, and with no provision in the Companies Act to remedy this, the only solution is to apply to court for an order to rectify the register of members in order to appoint new directors, which can take several months. Royds Withy King has recently advised on a very similar case.

For information or advice, please contact Stephen Woods at stephen.woods@roydswithyking.com

Stephen WoodsStephen Woods

Is your business at risk of criminal liability?

A business found to be employing illegal workers is now more likely to face criminal sanctions following recent changes to the law. Previously, criminal penalties were only triggered if the employer knowingly employed someone illegally; now the threshold is far lower and an employer can face criminal prosecution for having reasonable cause to believe the individual did not have the right to work in the UK.

If guilty, an employer can face an unlimited fine and a custodial sentence of up to five years. This is in addition to a civil penalty of £20,000 per illegal worker. It is essential that the proper checks are carried out during the recruitment process, providing a defence against any civil liability and helping to demonstrate that no criminal offence has been committed.

To find out more about the necessary ‘right to work’ checks or advice on any other employment issue, please contact Kate Benefer at kate.benefer@roydswithyking.com

Kate BeneferKate Benefer

When a business is not a trade

A recent case provides useful guidance on when an individual’s business activities can be classed as a commercial trade for tax purposes. In the case, a lawyer set up a business helping his wife, who was a well-regarded pianist, to promote her music services. However, despite his best efforts, the business sustained losses and he sought (unsuccessfully) to set those losses against his own earnings.

In assessing whether a business is trading on a commercial basis, the tribunal looked at a range of factors, including the lack of a budget, lack of any strategy for the future and lack of cash flow forecasts. The tribunal also considered whether the trade was carried out with a view to realising a profit and given the costs involved, decided it should have been obvious from the outset that it wouldn’t have been viable.

For legal advice around taxation, please contact Tom Gilman at tom.gilman@roydswithyking.com

Tom GilmanTom Gilman

Pre-nuptial agreements are worth the paper they are written on

The outcome for Sheik Walid Juffali may have been very different had he entered into a pre-nuptial agreement before his marriage to Christina Estrada. In the widely-reported divorce settlement between Sheik Juffali and Ms Estrata, she suggested her annual income needs included £2.1m for travel costs, £1m for clothing and £58k for two luxury handbags. A further £58k allowed for six casual handbags and ten clutch bags. It is often said that the Court should look at a spouse’s “reasonable needs generously interpreted”. This just goes to show that “needs” are elastic. Ms Estrada’s final settlement was about £75m including £53m in cash. The parties had been married 12 years and had one child.

For advice on how to protect your wealth in the event of a relationship breakdown or for representation in your multi-billion pound (or more modest) divorce settlement, please contact Mark Phillips at mark.phillips@roydswithyking.com

Mark PhillipsMark Phillips

For advice on any legal issue, please contact Royds Withy King on 01865 792300 or visit www.roydswithyking.com

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

41 minutes ago

Chipping Campden – once the meeting place for a council of Saxon kings – now offers the warmest of welcomes to all its visitors, from the humble shopper to the seasonal shin-kicker

Read more
55 minutes ago

Property prices across Gloucestershire and the Cotswolds have risen steadily over the last few years, reflecting the trend across the country. But which area has shown the most dramatic hike in prices recently, and how does your postcode and house type compare with others in the area? You may be surprised to see the results...

Read more
55 minutes ago

From mini Norway spruces to luxury Nordman firs, here are eight of the best places to get a luscious, green tree in the Cotswolds this festive season

Read more
57 minutes ago

The weekend is fast approaching and for those still deciding how to spend their Friday through to Sunday, we pick 5 of the best ways to spend your weekend in the Cotswolds

Read more
57 minutes ago

Choral carol services and grand instrumental performances, with the backdrop of some of the Cotswolds most picturesque locations, are perfect ways to embrace the festivities. We pick some of the best carol services and concerts to enjoy in the region

Read more

Taking the classroom outdoors is fun, inspires fresh ideas, broadens horizons – and encourages a new generation to enjoy and care for the Cotswolds

Read more
Friday, November 16, 2018

“‘Flexitarians’ can do one though, being alleged vegetarians who still can’t resist the sizzling siren song of the bacon sandwich when no-one is looking.” Editor Mike Lowe is attempting to seek reconciliation with those he has annoyed… well, sort of.

Read more
Thursday, November 15, 2018

“This letting to Oxford nanoSystems is a fantastic example of how we are able to provide first class facilities for growing technology companies at Abingdon Business Park.”

Read more
Thursday, November 15, 2018

One of the UK’s leading training and education specialists has launched a skills hub in Nuneaton

Read more
Thursday, November 15, 2018

“The logistics hub is another example of where we have worked in partnership to support skills needs in the area and link our student body with future job opportunities.”

Read more
Thursday, November 15, 2018

“It was fantastic to see how this project is making a real difference to the lives of young people at risk of social exclusion.”

Read more
Thursday, November 15, 2018

It has become the 90th store to accept the gift card in Cheltenham

Read more
Thursday, November 15, 2018

As well as three days of action-packed racing and tradition, there’s plenty to do away from the course at this year’s November Meeting. Neil Phillips, The Wine Tipster, shares his 14 suggestions on how to make the most of your time at Cheltenham Racecourse

Read more
Wednesday, November 14, 2018

From festive light switch-ons and Santa’s Grottos, to Victorian Christmas Fayres and late-night shopping, we’ve covered what’s on in and around the Cotswolds this season

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search