How is COVID-19 affecting your M&A transaction?

Aimee Craig

Aimee Craig, Associate in the Corporate team at Tughans, picks up on certain considerations in the M&A market at this time. As the COVID-19 pandemic continues this uncertainty creates a difficult backdrop for corporate deals. We set out below some of the potential impacts on M&A transactions and some suggestions on how to manage such... ...

Respite for Commercial Tenants – moratorium on evictions

Amanda Byrnes

In the vast majority of commercial leases, there is an ability for the landlord to forfeit the lease and take back possession of the premises should the tenant fail to pay its rent within a set period (usually 21 days) of the payment falling due.   However, in an effort to support businesses during this... ...

More Business Support Measures Made Available

Paul Eastwood

In what will come as some relief to many, guidance has been issued by Finance Minister Conor Murphy to public bodies encouraging a range of support measures to be applied to their supply chains during the current period of upset, including:   ensuring that supplier invoices are paid without delay and without concern for immaterial... ...

Coronavirus Self-Employment Income Support Scheme

Jack Balmer

What is it? This Scheme is another emergency measure to address loss of income caused by the Coronavirus outbreak. It allows the self-employed to apply for a taxable grant worth 80% of their trading profits, up to a maximum of £2,500 per month, for the next 3 months....

Coronavirus Job Retention Scheme

Jack Balmer

Coronavirus Job Retention Scheme The Government has updated its guidance on the operation of the Coronavirus Job Retention Scheme (the Scheme). This follows the publishing of formal directions from the Treasury to HMRC on the operation of the Scheme on 15 April 2020. This advice note is kept under review but does not constitute legal... ...

Coronavirus: Companies House

Paul O’Brien

The impact of coronavirus is being felt by everyone and there are various measures being put in place to assist businesses (and Companies House) to deal with the disruption. The following updates from Companies House should be considered by businesses: Companies will be given an additional 3 months to file accounts with Companies House to... ...

Residential Mortgage Payment Holidays

Maria O’Loan

Residential Mortgage payers who are facing financial difficulty due to coronavirus are to be offered payment holidays of up to three months, the government has announced.  This also applies to buy to let mortgages over residential properties.   Chancellor Rishi Sunak made the announcement on Tuesday 17 March as part of emergency measures designed to... ...

Covid 19: Will your business interruption insurance apply?

Ellen Forester

From 29 February 2020 Covid-19 has been listed as a notifiable disease in Northern Ireland. Since then, the severe impact of Covid-19 has been felt by businesses across Northern Ireland as they deal with the government and public health guidelines, most notably in the hospitality, retail and tourism sectors. Following a press conference on 16... ...

Coronavirus Business Interruption Loan Scheme (CBILS)

Douglas Anderson

The UK Chancellor has set out a package of temporary, targeted measures to support businesses through the disruption caused by COVID-19.  Businesses of all sizes will have access to a package of Government-backed loans and guarantees, with further capacity should it be required....

Covid-19 – considerations for tenants

Aaron Mulholland

In response to the Covid-19 epidemic Finance Minister Conor Murphy has announced that all businesses in Northern Ireland will pay zero rates in the next three months and the issuing of rates bills has been deferred from April until June. The Minister has acknowledged, however, that in current circumstances rates relief alone will not sustain... ...