This month the legal news on our website covers a wide range of topics that we are sure will be of interest to you, such as the importance of reading and complying with the terms of your insurance policies to that old chestnut of proving to HMRC that all expense claims are valid. HMRC have revised their guidance on this point recently.

There is also an article dealing with the complex area of Inheritance Tax and the new guidance that HMRC has issued concerning nil-rate transfers between spouses. For more information on this area please contact one of our Probate team.

In the present volatile economic climate, business owners and managers need to keep a keen eye on market developments. But what is the real impact and how is your business going to cope? Recent months have seen markets thrown into turmoil, nationally and internationally. A recent article in the Daily Telegraph reported that over 16,000 businesses had failed in the first 9 months of this year, up by more than 28% in the last three months.

These conditions can be threatening but they also create opportunities to emerge stronger than before. "Marketing your way" through the downturn is one mantra that many businesses adopt. Talk to us about the opportunities and challenges for your business. We can help with contract reviews, help tighten client contracts, review supplier contracts etc.

Our team of commercial solicitors can assist you with any concerns or problems that you may have, whether this is dealing with your redundancy or that of your employees, re-drafting your terms of business to deal with the unique current climate or helping you to sell up, merge or even buy up other businesses available for merger. We also have an extensive network of contacts enabling us to offer you advice as to where to turn to next if you feel that your mounting debt cannot be rectified. However, often they can be resolved with the right professional help. Contact our Commercial team and our employment department to see how we can help you and your business at this time.

There is also a detailed article on the latest changes that came into effect as a result of the Companies Act on 1st October.

Lastly, don't forget that the Minimum Wage rates went up at the beginning of the month.

What were we doing in October?

Well we started October by holding our first seminar from our new Milton Keynes offices. The subject was “Landlord and Tenant – A brief guide from creation to possession” and was attended by property investors from across the country. The seminar was hosted by Stewart Matthews and Peter Kelly. Future seminars are being planned and we shall update you shortly with further details.

On 16th October our Milton Keynes office hosted the first Annual General Meeting of the Rent Back Charter Association. This was perfect timing being the day after the Office for Fair Trading published their report to Parliament on Sale and Rent Back transactions. Stewart Matthews of our Milton Keynes office has been heavily involved in the creation of the RBCA, the drafting of its constitutional documents and agreements and in liaising with the OFT and the National Landlord’s Association. The RBCA is committed to regularizing this area of property transactions by promoting an ethical and professional approach to these types of transactions.

There seems to have been a run on Nursing Homes!! In October, our commercial property department has been involved in three separate transactions involving the sale or purchase of Nursing Homes in Bedfordshire.

That's all for this month, keep the hatches battened down and let's ride out the current storm!