Commercial solicitors in London have reported an increase in contract instructions. Many feel that this is due to the fact that post the Brexit vote American deals with the United Kingdom have increased recently compared to last year. This upturn however is not reversible i.e. it is not reflected with transactions between the United Kingdom and America.Share This:-
Prosecutions for commercial fraud are expected to rise this year due to a stronger commitment to bring proceedings under the Bribery Act 2010. It will be interesting to see how the offence of failing to prevent bribery is handled by both the prosecuting authorities such as the Serious Fraud Office and defendants alike.
The Criminal Finances Act currently forging its passage through Parliament, as a Bill, should bring some tantalising developments.
Reports of sexual violence and domestic abuse have risen by nearly 12% year on year over the last four years in London. Cases of domestic violence soared by just under 58% in the same period. Last year despite a rise of almost 7% of domestic violence matters reported the proportion of people being charged with the offence has dropped.
In the year September 2015 to 2016 just 28% of domestic violence cases lead to either a caution, charge or other punishment compared to 41% in the previous four years. There were nearly 6000 rapes which contributed to a total of 17,000 sexual offences with 150,000 being the total of domestic violence incidents. 16% of sexual offences resulted in prosecution compared to only 10% four years earlier.
Whilst victims gain in confidence in reporting crime is commendable it will be a pity if this is thwarted by police inactivity.
Meanwhile a coordinator of a women’s refuge in north west London has been jailed for two years having been charged with fraud by abuse of position for the theft of nearly £35,000 which augmented the charity’s closure.
Ten percent of businesses collapse within a few years of entering into a Company Voluntary Arrangement (CVA) due to a number of factors:- a) Suppliers who agreed to the CVA may later impose stricter terms of credit. b) A well drafted CVA is only a good road map in the progress of regrowth. c) Lack of sensible restructuring activity ensues. The landlords of the insolvent companies often suffer heavy losses.
Over the last quarter there has been a significant increase in the number of properties for rent in prime Central London. Just under 25,000 have become available three times the figure from the previous quarter due to the currently unfavourable market for sellers. Increased tax rates, world wide uncertainty and a possible hard Brexit have conspired to make rental values soar.
Property solicitors in London are drafting assured shorthold tenancy agreements with commensurate regularity.
The rewards of instructing an experienced, highly recommended solicitor are borne out time and time again our advisers at the Solicitors Information Service report.
A recent case concerned a driver talking hands free on a mobile phone who ran over and killed a two year old toddler in a supermarket car park. She denied causing death by careless driving and was sentenced to 14 months in prison suspended for two years and banned from driving for 18 months.
Conveyancing solicitors in London are anticipating a surge in clients from the Middle East due to the fall in sterling; who enjoy shopping where English is spoken. Other new instructions are expected from dollar investors and those from Commonwealth countries especially Australia, New Zealand and India who view this as a buyer’s market.
The combination of low mortgage rates and the housing shortage should keep prices up.
The changes made to entrepreneur’s relief and to capital gains tax by the Budget in March have made growing businesses and start ups more attractive as investment vehicles many commercial solicitors in London are reporting. Capital gains tax was cut from 28% to 20% for top rate tax payers and from 18% to 10% for basic rate tax payers.
Long-term shareholders in unlisted companies are to receive a boon as entrepreneur’s relief is set to be extended.