Article Category: Commercial – Insight & Opinion

British Airways GDPR Breach Fine Reduced due to COVID-19

GDPR breach by hacker

In summer 2019, the Information Commissioner’s Office (ICO) issued a notice of intent to fine British Airways (BA) more than £183m for a breach of the General Data Protection Regulation (GDPR). The fine was calculated by reference to BA’s total global turnover and was an example of the ICO wielding the additional powers conferred on… Read more »

FCA Business Insurance Test Case Verdict Announced

Man signing business interruption insurance application form

On 15th September 2020, the FCA announced that it had been largely successful in its legal challenge brought against a number of insurers and their decisions to refuse coverage to small businesses claiming for COVID-19 related losses under their business interruption (BI) policies. Business Insurance Test Case Verdict Within the test case, the court considered… Read more »

Armchair Investors Targeted by Sophisticated Fraudsters

fraudsters attempting to conduct cyber crime

We have recently received reports from clients of a bogus shareholder scam in which fraudsters target members of the public holding shares in well-known blue chip companies. The clients have been contacted by telephone by someone who introduces themselves as an agent from a share brokering company, often based in New York or some other… Read more »

Companies House to Resume Enforcement of Its Strike off Process

Man filing documents and writing on sheet of paper - companies house to resume strike off process

In April, as a response to the COVID-19 pandemic, Companies House introduced temporary measures to its enforcement powers against companies that fail to comply with their statutory filing obligations. Those measures included: Pausing the strike of process to prevent companies from being dissolved; and Treating late filing penalty appeals sympathetically where the late delivery was… Read more »

Six Issues to Consider When Planning a Successful Management Buyout

people gathering around table to discuss management buyout

When owners reach a decision to sell their business, often the first assumption is to market their business for sale to a third party buyer. This process can be fraught and usually involves marketing the business for sale, due diligence and lengthy negotiations, which can be time consuming and expensive. However, more often there is… Read more »

Why Failure to Follow the Share Buyback Procedure Can Prove Costly

person holding sheets of information illustrating share buyback procedure

The ability of a private limited company to purchase its own shares provides shareholders with a return on their shares. It is frequently employed upon retirement or cessation of employment, but it can also be used as an effective way of returning surplus cash to shareholders or tidying up the existing share capital structure. However,… Read more »

Coronavirus Really Is a Matter of Life and Death for Businesses

Many businesses are continuing to reel from the Coronavirus pandemic and the effects of the lockdown. It is clear that this is not going away anytime soon. As a result, the majority of businesses will be, and will continue to be, significantly impacted. The concept of an “act of god” or “extraordinary circumstances” is not… Read more »

Changes to Companies House Strike Off Policy and Late Filing Penalties

Companies House has announced temporary changes to its strike off policy and approach to late filing penalties to support companies affected by the COVID-19 outbreak in meeting their legal responsibilities. The new measures include: Pausing the strike off process to prevent companies from being dissolved When a company makes a voluntary application for strike off,… Read more »

Entrepreneurs’ Relief Update: What is the Current Position?

In our previous blog, Important changes to entrepreneurs’ relief announced in autumn 2018 budget, we explained how the proposed changes set out in the Autumn Budget 2018 appear to have added additional conditions that must be met in order for an individual shareholder to qualify for entrepreneur’s relief to reduce their Capital Gains Tax liability to… Read more »

What Is The GDPR? Legal Implications and Legislation

    The data protection developments together with a general increase in awareness of fundamental rights, particularly the right to privacy, have led to legislative changes in the form of the GDPR and the emergence of a new regime of privacy protection. Businesses are increasingly aggregating employee or customer information and collecting and processing data…. Read more »