18 February 2019
In the UK market, the tax regime has been an important driver behind Opco/Propco structures. Until now, it has normally been tax efficient for the property interest to be held in an offshore company (the Propco) and leased to an onshore operating entity (the Opco) for the simple reason that any growth in value of the underlying property has then escaped UK tax. From 6 April 2019 that is going to change. As from that date, the UK is extending the scope of capital gains tax so that increases in the value of property after that date will fall into charge to UK tax on a sale or other disposal of the land even if the owner of the property is offshore.
13 December 2018
The recent case of Ghias v (1) Grill’O Xpress Ltd (2) Malik considered the compensation payable where a franchise brand is used after the termination of the franchise agreement without the permission of the brand owner.Read more
3 December 2018
The CVA has been this year’s buzzword, but there are other ways to slim down a restaurant estate, says real estate partner Matthew Williams, who was recently invited by BigHospitality to discuss the issues involved.Read more
UK data protection regulator the ICO has confirmed that it has received notification from Marriott Hotels regarding the widely reported hack (said to involve 500M consumers) involving the Starwood reservation system. The ICO says only that it is ‘making enquiries’.
HVS Chairman (London Office), Russell Kett, discusses how the hotels sector has “stood firm in what is proving a tough trading year”.
Philip Hammond’s November 2018 Budget had some good news for the hospitality sector: the reduction in business rates for restaurants and others with a rateable value of less than £51,000 will reduce rates by a third; the lowering of the apprenticeship levy from 10% to 5% for small and medium sized enterprises should also assist […]
We are an internationally focused law firm that combines a genuinely partner-led, commercial approach with legal expertise to help clients achieve their goals.
Our cross-firm hotels and leisure team provides the full range of legal services required by clients across the sector, from luxury high-end resorts, hotel chains, cinema operators, competitive socialising operators, restaurants and pub groups to developers, financiers and operators of hotels, sports, cinema and leisure facilities.
We have an in-depth understanding of the corporate, commercial, tax, funding, real estate, planning and construction issues that affect businesses in the sector. This enables us to support clients in undertaking a wide range of sophisticated and complex transactions both in the UK and internationally.