Insights: Publications - October 2020

This was first published in the Pitchbook Q3 2020 European Venture Report on 29 October 2020. What is your general view on the European VC scene, as we enter the last stretch of 2020? Despite unprecedented turbulence and challenges stemming from COVID-19, the European VC scene has remained remarkably strong and resilient. Millions of jobs […]

The UK edges closer to the expiry of the Brexit implementation period (31 December 2020). The diversion of resources to deal with the COVID-19 crisis; the decision not to request an extension of the implementation period; and the recent threat to renege on the Withdrawal Agreement make the prospect of a no-deal Brexit seem ever […]

On 8 October 2020 the Government issued its “Proposed draft regulations to require scrutiny of pre-pack sales to connected parties” (Regulations). Requirement for approval or evaluation The Regulations would apply to any disposal or series of disposals to a connected person, during the 8 weeks after a company has entered into administration, of all or […]

The Government’s election promise to introduce a Stamp Duty Land Tax (SDLT) surcharge for non-resident purchasers will shortly take effect. From 1 April 2021, non-residents will be liable to an additional 2% SDLT on purchases of residential property in England and Northern Ireland. This surcharge will be payable in addition to existing SDLT liabilities, including […]

The London Interbank Offered Rate (LIBOR), though still one of the world’s favourite numbers, will cease to be available from the end of 2021. The end of LIBOR will affect all users of the interest rate benchmark and both lenders and borrowers need to be prepared for this change. This change was announced in July […]

After several months of winding down, the financial support offered to employers under the Coronavirus Job Retention Scheme (CJRS) will end on 31 October 2020.  Over recent months the Government has been urged by some to extend the CJRS with fears raised that its withdrawal would result in large-scale redundancies and significant unemployment. The Government […]

First the bad news. We stand at the beginning of a brutal economic crisis of truly historical proportions. Many businesses will fail and employees lose their jobs. Economic, social and quality of life issues loom. Much of this pain may be unavoidable. But do not despair. There is a solution. There is a lot more that […]