Leasing legal, regulation, tax

UK asset finance above 2008 levels – FLA

Fri, May, 11 2012

Some UK asset finance markets are “writing more new business than they were before the collapse of Lehman Brothers in 2008”, according to the Finance & Leasing Association.Free

HMRC seizes more assets

Thu, May, 10 2012

HMRC is increasingly using its powers to seize businesses assets to recover unpaid VAT bills, according to figures published by independent finance provider Syscap. Last year, HMRC used its powers of distraint 2,401 times, seizing the assets of businesses who had failed to pay their VAT, a 161% increase on 2010 (921).Free

New partners for WFW

Wed, May, 2 2012

International law firm Watson, Farley & Williams yesterday appointed Toby Royal and Sven Fretthold as partners.Free

Addleshaw promotes asset finance specialist

Mon, Apr, 30 2012

Commercial law firm Addleshaw Goddard has promoted Rebecca Williams to partner in order to strengthen its asset finance practice. Williams has been with the firm for seven years and has gained experience advising a variety of clients on domestic and cross-border asset finance work covering a broad range of asset types and finance products.Free

Slaats: Leasing misunderstood by regulators

Thu, Apr, 19 2012

The chief executive of global lessor De Lage Landen has hit out at over-regulation of leasing, which he says is the result of a tarnished reputation for the banking sector. Ronald Slaats named regulatory changes chief among the challenges facing the leasing industry, describing the current round as a misdirected response to the global financial crisis.Free

Are you being served?

Tue, Apr, 10 2012

The courts insist parties abide by the terms of their contract and will be strict about deadlines. Most contracts, including lease finance agreements, will provide for how and when notices relating to the agreement are to be served. Failure to serve in accordance with the contract may well result in any potential claim being lost.

Problems caused by 'Mercury' decision

Tue, Apr, 10 2012

A plea for an amendment that reflects business transactions in the 21st century. In the ‘Mercury’ case (R (on the application of Mercury Tax Group and another) v HMRC (2008), a signature page to a deed attached to an earlier draft was signed by a party.

UK budget creates uncertainty over retirement age

Thu, Mar, 22 2012

The UK government’s automatic review of the state pension age, linking it to future life expectancy will create uncertainty for UK citizens as to when they will be eligible to receive their state pension, according to Skandia.Free

The NHS: all change?

Wed, Feb, 29 2012

Sam Yardley, a partner in the asset finance group at Watson, Farley & Williams and FLA NHS Forum member, and Louise Hamilton, head of NHS sales and marketing at Singers Healthcare Finance and chairwoman of the FLA NHS Forum, consider how the proposed regime change embodied in the current Health and Community Care Bill will affect financing.

Carebook: Bound by email

Wed, Feb, 29 2012

Leasing companies know that a party seeking to avoid liability for debts that it has guaranteed will use all arguments available to enable it to do so. One recent argument has been that a guarantee contained in a chain of emails without a manual signature having been appended to it is unenforceable. This is because the Statute of Frauds 1677 requires a guarantee to be in writing and "signed" by the guarantor.