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Take advantage of our free expert resources, written by the experts at LCN Legal, based on their practical experience of working with multinational groups and their advisers across the globe. If you are interested in these areas, you may wish to bookmark this page to check back regularly for new information.

LCN Corporate Simplification Guide Part 4 – Typical project blockages

Paul Sutton

This article forms part of our guide to corporate simplification and legal entity reduction projects. Links to the other parts of the guide are at the end of this article. As with any significant project, blockages and bottlenecks can arise. It is not unusual for legal entity project to be delayed or even to be […]

Group Reorganisations

Disclaiming a Lease – a way to get rid of those unwanted onerous leases?

Paul Sutton

This article is kindly contributed by Stephen Browne, a partner in the Deloitte Restructuring Services team. Stephen’s contact details are at the end of the article. Clients often approach us thinking that there is nothing they can do about unwanted leases, other than find a new tenant and re-let the premises. This situation can often […]

Group Reorganisations

LCN Corporate Simplification Guide Part 3 – Quantifying the likely cost savings

Paul Sutton

This article forms part of our guide to corporate simplification and legal entity reduction projects. Links to the other parts of the guide are at the end of this article. The desire to reduce cost is often one of the main drivers for a corporate simplification project. In theory, the savings can be expressed as […]

Group Reorganisations

UK financial services regulation for property professionals – what you need to know

Paul Sutton

This article is for property professionals – including property developers, property agents, investors, lawyers and anyone else involved in the sector, who are not already authorised and regulated by the UK Financial Conduct Authority (FCA). Its purpose is to keep you, your clients and business partners out of trouble – by enabling you to spot […]

Uncategorised

LCN Corporate Simplification Guide Part 2 – Typical triggers and drivers

Paul Sutton

This article forms part of our guide to corporate simplification and legal entity reduction projects. Links to the other parts of the guide are at the end of this article. Typical drivers There are a number of reasons why an organisation might want to simplify its group structure. Here are some of the most common […]

Group Reorganisations

What is an Alternative Investment Fund?

Paul Sutton

The Alternative Investment Fund Managers Directive applies to alternative investment funds (AIFs) that are managed or marketed in the European Union. So what is an AIF? The AIFMD definition The definition set out in the Directive is as follows (in Article 4(1)(a): “‘AIFs’ means collective investment undertakings, including investment compartments thereof, which: (i) raise capital […]

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Group Reorganisations Newsletter: using electronic signatures, preserving assets when removing companies

Paul Sutton

This article is taken from the first edition of our newsletter on group reorganisation and simplification projects. I hope you find it useful. If you would like to receive regular updates, please click here to subscribe. [btn href=”https://lcnlegal.com/guide-to-intercompany-agreements/” target=”_self”]Click here to access your free guide to intercompany agreements for transfer pricing[/btn] In this issue: News […]

Group Reorganisations

Intercompany Agreements

Introduction to legal due diligence in group reorganisation and corporate simplification projects

Paul Sutton

This article provides an introduction to why legal due diligence is important in group reorganization and corporate simplification projects, and how to structure the legal due diligence process. Main objectives The main purpose of legal due diligence investigations in group reorganisation and corporate simplification projects is to: Preserve assets; Avoid triggering liabilities; and Ensure that […]

Group Reorganisations

Corporate Simplification Guide Part 1 – What is corporate simplification?

Paul Sutton

This article forms part of our guide to corporate simplification and legal entity projects. Links to the other parts of the guide are at the end of this article. Corporate simplification is the process of reducing the complexity of a corporate group by reducing the number of legal entities. It is also known as “legal […]

Group Reorganisations

Structuring joint ventures to finance UK property development: key tax issues

Paul Sutton

This article is contributed by Stephen Hemmings, a corporate tax director at accounting firm Menzies LLP who has 8 years’ experience of advising clients in the property sector. A popular way for private investors to purchase a stake in the UK property market is to access the resources and expertise of property developers through joint […]

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UK subsidiary companies – exemption from audit

Paul Sutton

UK subsidiary companies can claim exemption from the audit requirements of the UK Companies Act 2006. The procedure is available where the subsidiary has a parent undertaking in an EEA member state. The exemption must be claimed for each individual financial year, and requires the following documents to be filed with Companies House: Unanimous consent […]

Group Reorganisations

Removing unnecessary companies: strike off or MVL?

Paul Sutton

This article is taken from the third postcard in our series of cards on group reorganisations, and looks at two options when removing unnecessary UK companies from a group. Striking a company off the register or using a solvent liquidation both involve a certain amount of legal risk for the directors of the company concerned. […]

Group Reorganisations

Most common legal pitfalls in group reorganisation projects

Paul Sutton

Like any other projects, group reorganisations require an appropriate level of planning to make sure that they are implemented smoothly. This includes checking legal issues involved. Here are some of the most common legal pitfalls: ‘Backdating’ documents – which can constitute fraud Transferring assets at less than market value or book value (depending on the […]

Group Reorganisations

New template intercompany agreement for transfer pricing: limited risk distribution agreement

Paul Sutton

LCN Legal has published an additional template intercompany agreement for transfer pricing, namely a limited risk distribution agreement. [btn href=”https://lcnlegal.com/guides/” target=”_self”]Click here to access your free guide to intercompany agreements for transfer pricing[/btn] This template forms part of a suite of template intercompany agreements, which are designed to make it easier for corporates and transfer […]

Intercompany Agreements

Our 4-step process for documenting intercompany agreements for transfer pricing

Paul Sutton

Creating or updating appropriate transfer pricing policies for your group can be a time-consuming and expensive process. In many cases, intercompany agreements are an afterthought, or are overlooked completely. Yet missing out that step means that you lose out on an important benefit – the ability to provide written evidence which sets a clear starting […]

Intercompany Agreements

The top 10 causes of delay and budget over-run in group reorganisation and simplification projects, and the antidote: our 5-step process

Paul Sutton

When you are planning the implementation of group reorganisation and corporate simplification projects, the basic objectives are usually to complete the desired steps on time, on budget and with the minimum of fuss. You might be forgiven for thinking that this should be easy to achieve. The reality can be a bit more hit-and-miss. Here’s […]

Group Reorganisations

How to convert from an LLP structure to a corporate structure

Paul Sutton

With the changes in the UK partnership tax rules which apply as from 5th April 2014, many businesses which are currently organised as LLPs are reviewing their legal structure. This is particularly the case in the fund management industry, where until now, LLPs have been one of the preferred legal forms for the advisory entity. […]

Group Reorganisations

New template intercompany agreement for transfer pricing: revolving credit facility agreement

Paul Sutton

LCN Legal has published an additional template intercompany agreement for transfer pricing, namely a revolving credit facility agreement. Click here to access the full suite of templates. This template forms part of a suite of template intercompany agreements, which are designed to make it easier for corporates and transfer pricing professionals to put in place […]

Intercompany Agreements

Checklist for transferring participations in an English limited partnership

Paul Sutton

This is a checklist for transferring participations in an English limited partnership which is registered under the Limited Partnerships Act 1907. It is for situations where a transfer has been agreed in principle on the basis of a private transaction between one of the current limited partners and the prospective transferee. 1. Due diligence and […]

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Reference guide: what is an NMPI?

Paul Sutton

Following the FCA’s consultation Policy Statement 13/3, the Unregulated Collective Investment Schemes And Close Substitutes Instrument 2013 took effect from 1 January 2014. The instrument prohibits FCA authorised firms from promoting “non mainstream pooled investments” (NPMIs) to retail investors, with limited exceptions. Here’s a reference guide to what is included in the definition of NMPI. […]

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