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When Is a Penalty not a Penalty? — Are You Offside when Claiming Interest?

When you’re signing a commercial contract with a partner, you may find it includes a penalty clause. Or possibly you’ve included one in a contract you’ve drawn up. This is, in essence, a clause which states that a specific sum is payable in the event of a specific failure, such as late delivery of materials or services, or late payment of an invoice. Liquidated and Unliquidated Damages Penalty clauses have a contenti
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ENFORCING AT COMMERCIAL PROPERTIES

Although often a controversial topic, instructing a bailiff is one of the most effective ways of collecting a debt in the UK. If a tenant is in rent arrears or they have another outstanding debt to you, using the services of a bailiff is often the most straightforward means of recovering the amount. If you instruct a team of bailiffs to recover an outstanding debt from your commercial property – whether that is a sho
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Three Essential Steps Before Signing a Commercial Lease

Any legal document requires close scrutiny before you sign it, and this is certainly true of a commercial lease. The ideal solution would be to have the agreement drawn up by a commercial law solicitor working for you, who’ll ensure there are no nasty surprises. Often, however, your landlord will present you with a ready-made agreement. Most landlords won’t be trying to cheat you, but the agreement will have been dra
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You Might Be Surprised Who the Biggest Tax Dodgers Are

Tax evasion and avoidance are big news these days, and most of us associate them with the multinational corporations and super-rich celebrities we read about in the news. But HMRC recently revealed who the biggest culprits are — SMEs. SME Tax Evasion HMRC estimates that they’re owed a total of £5.2bn in evaded tax payments, and of course those are only the debts they know about. Tax evasion, unlike tax avoidance, is
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Financing your business: What are the alternatives?

A guide to alternative business finance Setting up a business and funding it while it takes its first, unsteady steps in the world can be an expensive proposition. As it grows and becomes more resilient, a successful company will begin to be able to stand tall on its own 2 feet, but the initial infancy can be resource intensive. Traditionally, a business in need of finance walked into a bank and asked for it. Today,
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Ditched! End of an 800-year-old remedy for recovering commercial rent arrears

A change to the law has stopped commercial landlords using the 800-year-old ‘remedy of distress’ to collect rent arrears from business tenants. It’s all part of the changes to bring clarity to the entry rights of bailiffs as the collections industry becomes regulated. But pub property agents, for starters, believe the changes are not well understood, according to a report in the publican’s online newspaper, the Morni
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Squatting

Squatting was never far from the headlines before the law changed in September 2012 in response to public outrage at home invasions taking place while the occupants were on holiday. It is now a criminal offence to enter a residential building as a trespasser intending to live there. The offence can lead to six months in prison, a £5,000 fine, or both. Police have powers to help “displaced residential occupiers” regai
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