The Executive Partner of Manchester commercial law firm Kuits has been selected to join the judging ..
We recently summarised the important new changes brought in by the Electronic Identification Reg..
In our final article in the series looking at how the UK’s departure from the European Uni..
The Olympic Games are a remarkable celebration of sporting excellence and human spirit and go back a..
Commerical law firm Kuits has advised on the opening of the highly anticipated Menagerie, which open..
Grant-Funded Projects could be affected by Brexit. In our fourth article in the series, here is..
In the past, claimants - even those with little or no connection to England and Wales - have fav..
Kuits has advised on the lease of one of the city’s most talked about new venues, the Cat ..
How will Brexit affect competition law?01-Aug-2016
Next in our series of five articles on the legal implications of Brexit on Commercial Contracts, Kui..
Redeveloping a building with a tenant in situ may seem like an attractive prospect for a landlor..
Last year’s shock invalidation by the European Court of Justice (ECJ) of the Safe Harbor ..
The second in our series by Kuits’ Commercial and Intellectual Property partner Martin Lewis, ..
Property analysis: An underlying uncertainty should not alter the UK’s position as an attracti..
E-signatures: New rules enter force22-Jul-2016
The Electronic Identification Regulation came into force on 1 July 2016, changing the rules around e..
Kuits has advised licensing business Character World on the agreement of an out of court settlement ..
The general answer is no, due to the doctrine of ‘separate legal personality’ of a compa..
Welcome to the first in our series of five instalments on the legal implications of Brexit on yo..
The Court of Appeal decision in the professional negligence case of Tiuta has implications for value..
The Housing and Planning Act 201614-Jul-2016
On 12th May 2016, the Housing and Planning Act 2016 came into force. It substantially a..
Kuits briefing note for Companies and LLPs regarding the introduction of the new PSC Register13-Jul-2016
New PSC requirements From 6 April 2016 there has been a new requirement for companies and LLPs ..
Manchester commercial law firm Kuits has announced the promotion of five partners, a senior associat..
GPs vote for employees to write their own two-week sick note: sensible suggestion or a longer skive?05-Jul-2016
Members of the British Medical Association (BMA) have voted in favour of employees self-certifying t..
The impact of Brexit on Designs05-Jul-2016
The decision of the UK to leave the EU will clearly have wide reaching implications across business ..
As a member state of the EU, the law relating to intellectual property - along with all other ar..
A change in the law from 28 July 2016 will mean that artistic works which have been industrially exp..
Manchester commercial law firm Kuits has made five new appointments across five departments to suppo..
It’s a familiar scenario to employment litigators; an employee makes off with confidential..
On the sale of a property, a seller will typically provide replies to enquiries for the benefit of t..
Manchester commercial law firm Kuits has maintained The Law Society’s Conveyancing Quality Sch..
Landlords, the clock is ticking17-May-2016
F means fail 1st of April 2018 marks the beginning of a new era for the commercial property world. ..
The Government has announced that pubs will be allowed to sell alcohol on Friday 10th June and Satur..
Background In the past, when a tenant entered into a lease its obligations were often guaranteed by ..
Time stands still for no system 04-May-2016
Further to reports that Atos were forced to hand back £15m to Transport for Greater Manchester..
New obligations will come into effect on the 16 May 2016, which will require direct marketers to dis..
Keeping Up with Trade Mark Law20-Apr-2016
Kylie Jenner, one of the five sisters of ‘Keeping up with the Kardashians’ fame, ha..
Kuits advises parallel importer on initial victory over Procter & Gamble in major decision18-Apr-2016
Manchester commercial law firm Kuits has advised a parallel importer in successfully defending a sum..
The Ministry of Justice recently published the Legal Aid Statistics for October to December 2015, wh..
Manchester commercial law firm Kuits has advised BrewDog in dismissing an appeal to halt the opening..
‘Judges say they will ignore pre-nups unless couple are rich’ reads a recent tabloid hea..
Robert Levy, Kuits’ executive partner and specialist tax investigations solicitor, featured in..
There is never a shortage of people willing to warn you about the dangers of employment law to the u..
Developers of Leisure Property regarding Provisional Statements and Provisional Premises Licences08-Apr-2016
Following the introduction of the Licensing Act 2003, developers of leisure premises initially relie..
Manchester commercial law firm Kuits has advised its client Fastnet Equity plc on the acquisition of..
Robert Levy, Kuits’ Executive Partner and specialist tax investigations solicitor, featured li..
Commercial law firm Kuits has bolstered its Banking and Real Estate Finance team with the appointmen..
Kuits has been shortlisted in the ‘Law Firm of the Year’ category at Insider’s Nor..
Background A trade mark guarantees the ‘origin’ of a product or service, enabling c..
Kuits welcomes new recruit to Corporate team 07-Mar-2016
Manchester law firm Kuits has continued to expand its corporate and commercial team with the hire of..
You may recall that last year the EU–US Safe Harbour agreement was invalidated by the Euro..
Manchester commercial law firm Kuits has appointed Wendi Bussin as a specialist regulatory and busin..
Manchester commercial law firm Kuits has launched its HR Breakfast Club – quarterly breakfast ..
The government has proposed changes to Stamp Duty Land Tax (“SDLT”), for higher rate..
Kuits expands into new office18-Feb-2016
Manchester commercial law firm Kuits has taken an additional 3,800 sq ft of space in Blackfriars Hou..
Following the recent implementation of the UK Consumer Rights Act 2015 in October (please see our up..
Kuits advises on sale of Mediward Ltd 09-Feb-2016
Manchester commercial law firm Kuits has advised on the sale of Mediward Ltd, a pharmacy business ba..
Penalties - always a price to pay? 09-Feb-2016
A recent case is the first in 100 years to reset the bar on penalty clauses. Cue the moans that it i..
Kuits advises Alphagen on sale to Group zed 20-Jan-2016
Manchester commercial law firm Kuits has advised Alphagen Limited on its sale to Canadian corporatio..
Manchester commercial law firm Kuits has advised Vini Italiani on the launch of its second site, on ..
Manchester law firm Kuits is celebrating a busy and successful end to 2015 after its corporate team ..
Child maintenance and contact: how some parents are adopting a ‘pay per view’ attitude to children21-Dec-2015
Katie McCann, Partner and Head of the Family department at Kuits, explores the dangers of parents wi..
Why data protection is essential 07-Dec-2015
Most businesses process personal data about their customers. This includes, for example, individuals..
With Cyber Monday racking up £1.1bn of online sales in just one day this year, more and more o..
On Wednesday, George Osbourne made his Autumn Statement and Spending Review speech, the first since ..
Manchester commercial law firm Kuits has again performed well in The Legal 500 and Chambers UK Guide..
You have worked hard to build up your business. You have made sacrifices and taken risks. You ..
An amorous Starbucks barista has hit the headlines causing a media frenzy after leaving a messag..
Fans of the Northern Powerhouse will groan at recent news about Manchester’s own “Oyster..
Manchester-based commercial law firm Kuits has secured the national Law Society’s legal practi..
Manchester commercial law firm Kuits has advised pharmacy group Hollowood Chemists Limited in it..
No smooth sailing yet23-Oct-2015
Following on from our recent article about the invalidation of Safe Harbour (http://www.kuits.co..
Stormy seas ahead? Safe harbour no more 16-Oct-2015
Spotlight on European Data protection privacy laws as ECJ Provisional Ruling provides that Safe ..
Lying spouses fall foul to the Supreme Court 14-Oct-2015
The Supreme Court has today ruled that the cases of Mrs Gohil and Mrs Sharland may be reopened. ..
Consumer Rights Act 2015: what businesses need to know and do to ensure they remain compliant01-Oct-2015
The Consumer Rights Act 2015 came into force on 1 October 2015. Its main aim is to simplify exis..
Defamation in the social media age: what to do if someone posts something negative online28-Sep-2015
Social media and other internet-based comment posting sites, such as Twitter, Facebook and TripA..
Manchester commercial law firm Kuits has advised Tunstall Properties 1 Limited and Tunstall Prop..
Manchester commercial law firm Kuits has advised Ebsett Care Ltd on the purchase of the entire i..
Commercial law firm Kuits has advised on the opening of the new Asha’s restaurant in Manch..
Manchester law firm Kuits has added another senior hire to its growing Corporate and Commercial ..
Parental disputes: when divorcing parents hold different beliefs, where does that leave the children08-Sep-2015
Raising children together within the realms of a marriage or relationship can be tough to say th..
Manchester commercial law firm Kuits Solicitors have today completed two landmark deals on behal..
Manchester commercial law firm Kuits is celebrating the promotion of eleven members of its team ..
Important Costs Victory for Landlords10-Aug-2015
Many claims by landlords can often be for an amount of less than £10,000. The relevance of..
Commercial law firm Kuits Solicitors has advised a private property investor in the purchase of ..
The recent Supreme Court decision of Starbucks (HK) Limited and others v British Sky Broadcastin..
Manchester commercial law firm Kuits has had a busy first quarter advising the operators behind ..
Defaulters beware: you’re in for a scare24-Jul-2015
The case of Mr and Mrs Aly hit the headlines last week when HHJ Mark Rogers ordered Mr Aly to ha..
When parents get divorced, they are encouraged to sort out arrangements for any children between..
These days, most businesses live and die by their IT systems. We all know the feeling when a cr..
2015 Budget in Brief08-Jul-2015
Following today’s budget, we have prepared a review of the key points as broken down into ..
Runaway mother Rebecca Minnock plagued the news last week after she went into hiding with her so..
Whether its gridlock on the M6, or a cancelled or redirected train, our traditional early mornin..
Prenuptial agreements: what, why and how25-Jun-2015
When anyone gets married, they truly hope it will last forever; however, unfortunately this isn&..
A recent appeal dismissal by the Supreme Court highlights the very real need to check over any c..
The Deregulation Act 2015 came into force on 26 March 2015. The Act aims to clarify issues which..
Resolution have recently published their manifesto setting out the six things they believe the g..
Manchester commercial law firm Kuits Solicitors has advised family-run confectionary giant Tommy..
A Spoonful of Caution: What Mary Poppins teaches us about employing domestic workers in the home20-May-2015
One thing that most people probably don’t think about whilst enjoying a family movie night..
One rule for him and another for her as Oklahoma Supreme Court dismisses Sue Ann Arnall’s appeal11-May-2015
In November 2014, Harold Hamm, the CEO of Continental Resources, was ordered to pay his ex-wife ..
‘Nobody likes a snitch’ is how the playground saying goes. Yet ‘snitching&rsqu..
With pre-nuptial agreements on the rise in the UK and judges seemingly becoming more and more wi..
Manchester law firm Kuits Solicitors has advised on the opening of new cinema, theatre and art c..
Licences can provide IP rights holders with a fantastic way to exploit their valuable (but usual..
Manchester law firm Kuits Solicitors has advised Manford’s Comedy Clubs, an entertainment ..
Transparency in Company Ownership: What Shareholders Need to Know about the New Proposals23-Mar-2015
The Department for Business, Innovation and Skills has published a paper on new proposals regard..
Swaps Compensation – Time is running out!17-Mar-2015
We have successfully recovered significant amounts of redress compensation for many of our clien..
The divorce case of Tracey Wright has hit headlines hard recently after a judge told her t..
Kuits Solicitors is once again supporting Manchester International Festival as a Corporate Membe..
This weekend Manchester law firm Kuits Solicitors will play host to over 60 lawyers from over 25..
Kuits Solicitors are currently running a campaign ‘Divorce: let’s get it right&rsquo..
As part of Kuits Solicitor’s campaign ‘Divorce: let’s get it right’, its..
With Valentine’s Day having just passed, spouses across the country will have spent the da..
Manchester law firm Kuits Solicitors has advised Violet Hospitality on the launch of its debut s..
Over the last year or so, HMRC have been contacting taxpayers with Swiss bank accounts who autho..
The importance of accurate registration was highlighted very recently when it emerged that an er..
2014 was an interesting year for employment law. Statutory discrimination questionnaires have be..
Artist divorce case highlights sexism of the UK courts - and it’s not the women who are suffering01-Feb-2015
A stay-at-home father who was supported by his millionaire wife is appealing a court decision th..
The highly anticipated Hohn judgement was delivered in full on 12th December 2014. Although it h..
In the recent case of Game Retail Ltd v Laws (UKEAT/0188/14), the Employment Appeal Tribunal (EA..
Manchester law firm Kuits Solicitors has advised Class of ’92 stars Gary and Phil Neville,..
The A Word: Ramsay Loses High Court Battle over Lease Document Signed by Ghost Writing Machine21-Jan-2015
A recent dispute has hit the headlines partly due to its high-profile claimant, the fiery celebr..
The Cohabitation Rights Bill has recently received its second reading in the House of Lords. Cre..
Manchester commercial law firm Kuits has once again been awarded an Elite Top Tier Ranking in th..
It’s nearly Divorce D-day but does it really exist? And, if so, can we really blame the turkey?24-Dec-2014
Not a year goes by without a newspaper article being written about the arrival of Divorce D-day ..
Lessons from Thiry: The important distinction between financial and litigation misconduct23-Dec-2014
Property tycoon Didier Thiry has been ordered to pay his ex-wife Alisa Thiry £17 million i..
6 Tips for Employers for a Merry Christmas19-Dec-2014
With the festive season upon us, Kuits Employment team are here to provide you with 6 top tips f..
A recent European Court of Justice (ECJ) decision has found that a 25-stone Danish child minder ..
The Legislative Reform (Entertainment Licensing) Order 2014 which further relaxes the licensing ..
It has been an exciting few weeks in the world of divorce settlements. Less than a month after A..
Manchester commercial law firm Kuits has advised Ironveld plc, an AIM-traded mining company, on ..
Is your Business Clear on Allergens?01-Dec-2014
The Food Information for Consumers Regulations come into force on 13th December 2014, bringing a..
The new shared parental leave (SPL) regulations are in force from today (1 December 2014). The ..
In an attempt to reduce the legal aid bill by £350 million per year, huge cuts came into f..
Mediation will make the divorce process quicker, fairer and more empowering for both parties, sa..
Billionaire Hamm’s is one of the biggest divorce settlements in history, but is it big enough?21-Nov-2014
American entrepreneur Harold Hamm, best known for his position as CEO of Continental Resources, ..
The Divorce (Financial Provisions) Bill received its second reading in the House of Lords in Jun..
Times have changed – and on the whole these changes are for the better. We are now living ..
The much-anticipated judgment of Hertel, Amec v Wood and Others, regarding holiday pay, was deli..
During this National Fertility Awareness Week (w/c 27th October 2014), our family team takes a l..
Manchester law firm Kuits has been awarded a North West Top-Tier Firm recommendation in the Lega..
On 1 October 2014, changes to the Children and Families Act 2014 meant that certain individuals ..
Manchester law firm Kuits Solicitors has advised on the opening of new Brazilian restaurant Faze..
Manchester law firm Kuits Solicitors has advised Des McDonald, the former chief executive of Cap..
Manchester law firm Kuits has announced eight major promotions, adding five more partners and th..
Mandatory Conditions Update01-Oct-2014
You will remember that on 28th May 2014 the mandatory conditions attached to all premises licenc..
Manchester law firm Kuits Solicitors has successfully conducted international copyright and trad..
Kuits Solicitors’ Executive Partner Robert Levy (http://www.kuits.com/meet-the-team/robert..
Receiving news that an employee will be leaving the company can be stressful for an employer, no..
SWAPS Update: Is a Basic Redress Offer Fair?22-Aug-2014
Following on from our last update (http://www.kuits.com/news/update-mis-selling-of-swaps) on the..
Kuits advises Hollowood Chemists in its purchase of J Simpson Chemists and Clamary Limited19-Aug-2014
Manchester commercial law firm Kuits has advised pharmacy group Hollowood Chemists Limited in it..
Manchester law firm Kuits Solicitors has advised New World Trading Company on the opening of the..
Manchester commercial law firm Kuits has advised leading drug discovery firm Peakdale Molecular ..
Manchester law firm Kuits has advised on the negotiations surrounding Paul Scholes’ contra..
On 28th May 2014, a government ban on the sale of alcohol below the cost of duty plus VAT came i..
Manchester law firm Kuits Solicitors has advised on the negotiations surrounding the testimonial..
Update: Mis-selling of swaps08-May-2014
Kuits has been in close contact with those of our clients involved in the Financial Conduct Auth..
Family Justice Reforms23-Apr-2014
The family justice reforms, which have been described as “the largest for a generation&rdq..
The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 will ..
Kuits Solicitors, the leading commercial law firm based in Manchester, has advised Accurist Watc..
SSP Reforms: The Impacts on your Business04-Apr-2014
Starting from April 6, the introduction of an independent assessment service means that employer..
Game Changer For Landlords 24-Mar-2014
Until recently the law in administrations was that if a quarter’s rent is payable in advan..
One of the most effective options available to landlords of commercial property in the event of ..
Does your business need a BYOD policy?19-Feb-2014
BYOD (bring your own device) refers to the increasingly common practice of employees using perso..
Surrogacy is becoming increasingly popular with couples who wish to grow or start a family. Man..
This Bulletin should be read in conjunction with the website article Time is Ticking (http://www..
The Law Commission is set to publish a report on Matrimonial Property, Needs and Agreements on 2..
TUPE 2014: 5 KEY POINTS FOR EMPLOYERS07-Feb-2014
The latest revisions to TUPE* are in pale contrast to sweeping changes first talked about in Jan..
Discretionary bonus payments and divorce05-Feb-2014
In the event of divorce or dissolution of civil partnership, one of many financial Orders that t..
Daily Internet Purchases Namehog 27-Jan-2014
Manchester Solicitors Manchester law firm, Kuits Solicitors has advised AIM listed internet host..
Manchester Solicitors Kuits Solicitors in Manchester, England has been shortlisted for the Mediu..
Things to know when considering surrogacy Many couples are turning to surrogacy as a way t..
Overview The Defamation Act 2013 is in force as from 1 January 2014. It is intended to p..
Do you own the rights to your name? 14-Jan-2014
A recent EU ruling has determined that social media company Pinterest do not own the rights to t..
Swaps - Where are we now?10-Jan-2014
We have recently concluded some swaps cases for clients of ours with encouraging six-figure sett..
New Year – New Beginning?06-Jan-2014
Today has been dubbed “Divorce Monday” by the media on the basis that this is report..
Safe Harbor – Any Port in a Storm?06-Jan-2014
Does your business operate or trade internationally? Most companies are aware that they must com..
The Government has announced that the existing apprenticeship frameworks are to be replaced by n..
Staff at Domino’s Pizza in Preston were told that they could only speak English while at w..
Manchester Solicitors Manchester law firm Kuits Solicitors is advising Gary Neville and Ry..
Autumn Statement overview06-Dec-2013
Manchester Solicitors Growth Forecast to increase from 0.6% to 1.4%, with next year’s predi..
A Christian care worker, Celestine Mba, has sought a ruling from the Court of Appeal allowing he..
Christmas and New Year Opening Times06-Dec-2013
Date Times Open/Closed Tuesday 24th Dec ..
HMRC Clamps Down on Landlords06-Dec-2013
HMRC has launched a Let Property Campaign aimed at landlords who let out residential property wi..
It’s all in the Name06-Dec-2013
As part of the ‘Red Tape Challenge’ to reduce the raft of unnecessary regulations im..
HMRC crack down on unpaid internships HMRC has written to more than 200 employers who have rece..
Kuits advises on 'Class of 92' production02-Dec-2013
Manchester Solicitors Manchester law firm Kuits has advised on the agreement to produce a major ..
John McCririck's age discrimination claim dismissed A Tribunal has dismissed John McCririck&rsq..
What a Landlord does not want for Christmas28-Nov-2013
In the run up to Christmas there will be a real temptation for rogue traders to gain access to e..
Case Law Bulletin: Young-v-Young 27-Nov-2013
The long-awaited high profile “big money” divorce case of Young v Young finally reac..
Commercial Landlords – Time is Ticking20-Nov-2013
As from 6th April 2014 landlords will no longer be able to use the ancient common law remedy of ..
Employment Law – Winter 2013 Update19-Nov-2013
Severe Weather – How to Manage this for your Business As winter closes in empl..
Vantage Point sold for £19.9 million 19-Nov-2013
Manchester Solicitors Manchester law firm Kuits Solicitors have advised Manchester property inve..
From April 2014 onwards financial penalties may be imposed upon employers who lose at Tribunal. ..
Charities Relieved by Court Ruling05-Nov-2013
Commercial Property Solicitors The Court of Appeal (in the “Pollen Estate” case) has..
Direct your Attention to Direct Marketing01-Nov-2013
Manchester Solicitors The Information Commissioner’s Office (ICO) has recently released ne..
Government Announces Plans to Relax Entertainment Rules The Government announced on 23rd October..
Is the Break Tide Turning?01-Nov-2013
Property Litigation Solicitors When the break date within a rental agreement falls in the middle..
Payments to Incorrect Payees01-Nov-2013
Manchester Solicitors A recent case has offered comfort to banks that have processed CHAPs payme..
High Court rules that a contract can be made in two different jurisdictions In the recent case o..
Manchester Solicitors Manchester law firm Kuits Solicitors has advised family run restaurant gro..
Kuits advises Daily Internet plc25-Oct-2013
Manchester Solicitors Manchester law firm Kuits Solicitors has advised AIM listed web hosting pr..
Rent Arrears – Options for Landlords15-Oct-2013
In these times of economic uncertainty a real concern for Landlords is their options if it looks..
Bankruptcy Tourism explained09-Oct-2013
Recent reports have highlighted a growing number of EU nationals moving to the UK to utilise the..
Manchester law firm Kuits Solicitors has advised Delta Properties on the £3.9 million purc..
Construction Law Update01-Oct-2013
Site Waste Management Plans Regulations to be Repealed On 1st October 2013, DEFRA are to re..
Lord Sugar’s Application for Costs is Refused by Tribunal Lord Alan Sugar has failed in hi..
The results are always exemplary. Kuits performance has clearly added value to our business.
Clive Ashcroft, head of Legal Services, Land Securities PLC
Redeemable Preference Shares10-May-2013
It is not uncommon for private family companies and other privately held businesses to have significant loans due to their directors. They are a method of investing in a company but allowing for tax efficient extraction of profits at a later date and often date from the incorporation of the business.
Directors loan accounts allow for tax efficient extraction of profits from a business for higher rate tax payers rather than them paying a salary, bonus or dividend. Profits can be distributed as a part repayment of the directors loan and will suffer no tax in the directors hands. The effect of this is that whilst the company will have paid Corporation Tax on profits this is normally much less than the income tax the director would have paid themselves.
However, upon the death of a director the loan account may be subject to Inheritance Tax potentially at 40%. The payment of this tax needs to be found from somewhere and often requires a part repayment of the loan to fund it and this could put the company under financial pressure.
It is however possible to structure director's loan accounts as redeemable preference shares rather than a loan. The effect of this is that the shares can still be redeemed in the same way as loans in a tax efficient manner but once the shares have been held for 2 years they should qualify for relief from Inheritance Tax. In addition, no tax would be payable on the death of the holder.
Redeemable preference shares typically have a fixed value regardless of the performance of the company. However, the main downside when compared to a directors loan account is that if the business became insolvent the shares would rank below a loan on winding up and thus putting capital at greater risk.
However, as part if long term Inheritances Tax planning redeemable preference shares can play a great role in tax mitigation.