Boohoo acquires all intellectual property rights of Debenhams in £55m deal

Following going into its second administration in April 2020 and subsequently into liquidation shortly before the festive period, Debenhams is one of the latest victims of the impact of the pandemic and the accelerated shift to online retailing. Nevertheless, Boohoo, leading online fashion retailer, has recently announced its acquisition of all of Debenhams’ brands and…

202102.19

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VAT on lease break payments

In September 2020 – following two important judgments delivered by the Court of Justice of the European Union – HMRC published its Revenue & Customs Brief 12 (2020) which contained updated guidance on the position of VAT on payments made in relation to the termination of contracts. The crux of the change was that termination…

202102.19

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When is it not enough? Understanding the importance of relevant and appropriate employee training

On 4 February 2021, the Employment Appeal Tribunal (EAT) handed down judgment in the case of Allay v Gehlen. The case not only addresses the issue of discrimination and workplace harassment but also highlights the importance of providing appropriate training to employees. Training needs to be adequate and updated, not only to provide knowledge to…

202102.19

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Are you aware of the possible legal repercussions of paying unlawful dividends?

What is a legal dividend? Paying a dividend is the usual way for a company to distribute a share of its profits among the shareholders. Part 23 of the Companies Act 2006 establishes what profits are available for distribution by dividend, and what accounts are required in order to justify a dividend. If these requirements…

202102.19

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Private Equity – The benefit of this type of funding for private companies

Private Equity (PE) is a form of alternative investment of capital into companies which do not trade on the public exchange. The funding comes from investors (high-net-worth individuals) and firms who invest directly into private companies or acquire control of public companies with the plan to take them to private, away from the stock exchange….