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Save the commercial tenants to save businesses

The UK government has issued a press release and announced further protection by law to save the commercial tenants to save businesses during this pandemic.

Previously, the Coronavirus Act 2020, Part 1 Section 82 and 83 protect commercial tenants from forfeiture due to failure to pay rent. In other words, Landlords or Agents acting on behalf cannot evict commercial tenants from 25 March 2020 to 30 June 2020.

The UK Government announced a lockdown from 23 March 2020 and start easing lockdown from 11 May 2020. Many businesses still must remain closed during an easing of the lockdown period. In particular the hospitality sector like restaurants, bars, hotels, gyms, hairdressers, nails salons etc.

Today, the Government announced that the protection by law to save the commercial tenants to save businesses will extend to 30 September 2020. A further 3 months protection from eviction. Correspondingly, also encouraged landlords and tenants to work together with regard to rents payments and other arrangements.

The extension of the protection period to 30 September 2020 enforces once Royal Assent is received.

This is a great news for UK businesses.

Other support available for UK companies

There is support and help from Companies House for company directors that currently abroad to comply with their UK company’s legal filings requirements.

 You can submit the following documents online with Companies House.

All you need is your company’s authentication code issued by Companies House. The authentication code is the electronic equivalent of your company’s director(s) signatures. Keep safe your authentication code.

If you are unable to complete your company accounts due to the interruption from this COVID-19 outbreak, you can apply to Companies House to extend your company accounts filing deadline without incurring a late filing penalty.

Companies House also created an interim paperless filing service to accept documents which would normally require a live signature.

If you require help with your UK company’s filings, contact us. Our accountants can help you.

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