tees-logo-v1

Month: October 2024

Chancellor Rachel Reeves’ first budget: New policies to boost UK economy

Posted on by Sophie Soraf

“Our mission to grow the economy”

Chancellor of the Exchequer, Rachel Reeves, delivered the Labour government’s first Budget on 30 October with a promise to “restore economic stability” and “invest, invest, invest” to promote growth. In her statement, she outlined a number of new tax and spending measures that she said would create “an economy that is growing, creating wealth and opportunity for all.” In total, the Budget will see taxes rise by £40bn.

Economic forecasts

The Chancellor stressed that every Budget she delivers “will be focused on our mission to grow the economy” and outlined seven pillars that will form the government’s growth policy priorities. Key among these is restoring economic stability and increasing investment, while other areas include boosting regional growth, improving skills across the workforce, creating an industrial strategy, driving innovation and transitioning to Net Zero.

Ms Reeves then unveiled the Office for Budget Responsibility’s (OBR’s) latest economic projections, which suggest the economy will expand slightly faster than previously expected both this year and next, before easing off from 2026 onwards. The new forecast predicts the economy will grow by 1.1% in 2024 and 2.0% next year, before falling back to 1.6% by the end of this Parliament. Overall, the OBR noted that, although the policies in the Budget will ‘temporarily boost’ the economy, the overall level of output will be ‘broadly unchanged’ over the five-year forecast period. Inflation is predicted to average 2.5% this year and 2.6% in 2025.

Cost-of-living measures

The Chancellor acknowledged the burden that the cost-of-living crisis has placed on working people, and committed to:

  • Increasing the National Living Wage (NLW) from £11.44 to £12.21 per hour from April 2025 – a 6.7% increase
  • Increasing the minimum for 18 to 20-year-olds from £8.60 to £10 per hour (over time, the intention is to create a single adult NLW rate)
  • Freezing fuel duty for one year and extending the temporary 5p cut to 22 March 2026
  • Increasing the weekly earnings limit for Carer’s Allowance to equate to 16 hours at the NLW rate
  • Providing £1bn for local authorities to support those in immediate hardship and crisis.

Personal taxation, savings and pensions

As pledged in the Labour manifesto, there are to be no changes to the basic, higher or additional rates of Income Tax, employee National Insurance contributions (NICs) or VAT.

As previously announced, the government has committed to maintain the State Pension Triple Lock for the duration of this Parliament, meaning that the basic and new State Pensions will increase by 4.1% in 2025-26, in line with earnings growth. This means £230.30 a week for the full, new flat-rate State Pension (for those who reached State Pension age after April 2016) and £176.45 a week for the full, old basic State Pension (for those who reached State Pension age before April 2016).

The lower and higher main rates of Capital Gains Tax (CGT) will increase to 18% and 24% respectively for disposals made on or after 30 October 2024. The rate for Business Asset Disposal Relief and Investors’ Relief will increase to 14% from 6 April 2025 and then to 18% from 6 April 2026. The lifetime limit for Investors’ Relief will be reduced to £1m for all qualifying disposals made on or after 30 October 2024, matching the lifetime limit for Business Asset Disposal Relief.

Inheritance Tax (IHT) nil-rate bands will stay at current levels until 5 April 2030 (previously 2028). The nil-rate band remains at £325,000, residence nil-rate band at £175,000, and the residence nil-rate band taper starts at £2m. Unused pension funds and death benefits payable from a pension will be subject to IHT from 6 April 2027.

The government intends to reform Agricultural Property Relief and Business Property Relief from 6 April 2026. In addition to existing nil-rate bands and exemptions, the current 100% rates of relief will continue for the first £1m of combined agricultural and business property. Thereafter, the rate of relief will be 50%, including for quoted shares which are ‘not listed’ on the markets of recognised stock exchanges, such as AIM. From 6 April 2025, Agricultural Property Relief will be extended to land managed under an environmental agreement with, or on behalf of, the UK government, devolved governments, public bodies, local authorities, or approved responsible bodies.

The concept of domicile status is to be removed from the tax system and replaced with a residence-based regime from 6 April 2025. This includes ending the use of offshore trusts to shelter assets from IHT and scrapping the planned 50% tax reduction for foreign income in the first year of the new regime. Individuals who opt in to the regime will not pay UK tax on foreign income and gains (FIG) for the first four years of tax residence.

In England, higher rates of Stamp Duty Land Tax (SDLT) which apply to purchases of second homes, buy-to-let residential properties and companies purchasing residential property, increase from 3% to 5% above the standard residential rates, effective 31 October 2024. The single rate of SDLT that is charged on the purchase of dwellings costing more than £500,000 by corporate bodies will also be increased by two percentage points, from 15% to 17%.

In addition:

  • Annual subscription limits will remain at £20,000 for ISAs, £4,000 for Lifetime ISAs and £9,000 for Junior ISAs and Child Trust Funds until 5 April 2030. The government will not proceed with the British ISA due to mixed responses to the consultation launched in March 2024
  • The Enterprise Investment Scheme and Venture Capital Trust schemes are extended to 2035
  • The Income Tax Personal Allowance and higher rate threshold remain at £12,570 and £50,270 respectively until April 2028. From April 2028, these personal tax thresholds will be uprated in line with inflation (rates and thresholds may differ for taxpayers in parts of the UK where Income Tax is devolved)
  • Working age benefits will be uprated in full in 2025-26 by the September 2024 Consumer Prices Index (CPI) inflation rate of 1.7%
  • The starting rate for savings will be retained at £5,000 for 2025-26.

Business measures

In her speech, Ms Reeves said, “we are asking businesses to contribute more” to raise revenues required to fund public services. She added, “I do not take this decision lightly,” before announcing:

  • An increase in employers’ National Insurance Contributions (NICs) by 1.2 percentage points to 15% from April 2025
  • A reduction of the secondary threshold from £9,100 per year to £5,000 per year
  • An increase to the Employment Allowance from £5,000 to £10,500
  • The introduction of two permanently lower business rates for retail, leisure and hospitality businesses from 2026-27, funded by a higher multiplier for the most valuable properties
  • £1.9bn of support to small business and the high street in the form of a freeze on the small business multiplier and 40% rates relief for retail, hospitality and leisure properties (capped at £110,000)
  • £250m in funding for the British Business Bank’s small business loans programmes
  • The headline rate of Corporation Tax will be capped at 25%.

Health and education

To round off her inaugural Budget, Ms Reeves turned her attention to “two final areas in which investment is so badly needed to repair the fabric of our nation.”

As indicated in the Party’s election manifesto, the Chancellor confirmed plans to introduce VAT on private school fees (except for children below compulsory school age) from January 2025, and to remove private schools’ business rates relief from April 2025.

Funding for the state school system is set to increase by £11.2bn from 2023-2024 levels – a 3.5% real terms increase. This includes:

  • Increasing funding for day-to-day school spending by £2.3bn, £1bn of which is earmarked for pupils with special educational needs and disabilities (SEND)
  • £1.8bn to continue the expansion of government-funded childcare
  • £30m to fund thousands more breakfast clubs in primary schools
  • Investing in new teachers for core subjects
  • £300m for further education.

Ms Reeves also announced a £6.7bn capital funding package for education in England in 2025-26, a real terms increase of 19% from 2024-25, including £1.4bn towards rebuilding over 500 schools in the greatest need.

Lastly, the Chancellor tackled her plans for the National Health Service, announcing:

  • A 10-year plan for the NHS, to be published in the spring
  • A £22.6bn increase in the day-to-day health budget to deliver on the government’s 18-week waiting time target
  • £3.1bn increase in the capital budget over this year and the next.

Other key points

  • Help to Save scheme – extended until April 2027
  • Alcohol duty – tax on non-draught alcoholic drinks to increase by the usually higher RPI measure of inflation, tax on draught drinks cut by 1.7%
  • Vaping products duty – new tax of £2.20 per 10ml of vaping liquid introduced from October 2026
  • Tobacco duty – to increase by 2% above RPI on all tobacco products and 10% above inflation for hand-rolling tobacco with immediate effect
  • Bus fares – £2 cap on single fares in England to rise to £3 from January 2025
  • Clean energy sector – £3.9bn of funding in 2025-26
  • Air Passenger Duty (APD) – increased for 2026-27, £1 more for domestic economy flights, £2 more for short-haul economy flights and £12 more for long-haul destinations. The higher rate applicable to private jets will rise by 50% in 2026-27
  • Devolved government funding – to receive an additional £6.6bn through the operation of the Barnett formula in 2025-26 (£3.4bn for the Scottish Government, £1.7bn for the Welsh Government and £1.5bn for the Northern Ireland Executive)
  • Expanding government-funded childcare support – an additional £1.8bn pledged for working parents in England, bringing total spending on childcare to over £8bn in 2025-26.

Closing comments

Rachel Reeves signed off her Budget saying, “I have made my choices, the responsible choices, to restore stability to our country, to protect working people… Fixing the foundations of our economy. Investing in our future. Delivering change. Rebuilding Britain.”

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding of the Budget, taxation and HMRC rules and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.

All details are believed to be correct at the time of writing (30 October 2024)

This material is intended to be for information purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Tees is a trading name of Tees Financial Limited which is regulated and authorised by the Financial Conduct Authority. Registered number 211314.

Tees Financial Limited is registered in England and Wales. Registered number 4342506.

Stansted Airport expansion: Balancing growth with employment law compliance

Posted on by Sarah O'Sullivan

Stansted Airport’s reported £1.1 billion expansion is poised to create over 5,000 jobs, promising a major economic boost. However, behind the headlines lies a complex employment law landscape that should be considered.

Employment law challenges

While new jobs and growth are to be welcomed, large projects like this can present human and employment law challenges that must be carefully managed.

Sector-specific regulations

The aviation and construction sectors are governed by stringent regulations—health and safety standards, collective bargaining with unions (where applicable), and recruitment and onboarding compliance that are just a few areas that will need to be considered alongside the usual and considerable employment law obligations.

Opportunities and risks

Managed well, this will prove an opportunity for employers to showcase best practices in recruitment, worker safety, and union engagement to promote growth with an engaged and productive workforce. Managed badly and employers will face claims and complaints and recruitment and retention issues.

Striking the right balance

With careful planning, Stansted could set a benchmark for balancing rapid growth with strong legal compliance, fostering not just jobs but quality employment. The key challenge? Balancing rapid recruitment with safeguarding worker rights. As temporary and agency workers inevitably make up part of the workforce, employers must avoid the pitfalls of misclassification and unequal treatment. Temporary work may suit the short-term nature of construction, but employees in aviation roles will expect job security and fair conditions under the collective agreements often in place at airports.

Union engagement and industrial relations

Moreover, union involvement will likely intensify, with employees and unions demanding assurances on pay, working hours, and conditions. Industrial relations could become a sticking point if employers don’t engage early and often, as past experiences with the aviation sector have shown.

The path forward

For many, this expansion represents hope: an optimistic vision of the future where economic progress is intertwined with social responsibility. Thoughtful attention to employment law could transform this development into a model for how infrastructure projects should unfold, creating not only work but also a fair, inclusive workforce.

Best practices for employers

By emphasising training, fair pay and treatment, and, where applicable, collaboration with unions, Stansted’s growth can prove that scaling up responsibly is not only possible but profitable. This could be a blueprint for the aviation industry and beyond as more projects emerge, requiring rapid, responsible hiring.

In short, Stansted’s expansion represents more than physical growth; it’s a chance to align progress with ethical employment practices, offering a win-win for workers and the economy. Employers who navigate these waters well will benefit from a successful and compliant recruitment drive. Those who don’t may find themselves tangled in costly disputes that could derail the project.

Lessons for UK employers from Amazon’s return-to-office mandate

Posted on by Sarah O'Sullivan

Navigating the new norm

Amazon’s bold decision to compel all employees back to the office five days a week starting next year has stirred considerable debate. While the move signals a return to pre-pandemic norms, it also represents a broader philosophical and operational shift for companies worldwide. For UK businesses, this development prompts contemplation on balancing operational efficiency, legal obligations, and employee well-being.

The conundrum of contractual clarity

At the heart of Amazon’s mandate lies a fundamental question: How do employers transition away from the flexibility granted during the pandemic? Looking at the employment contracts are important in this context. Many employees were granted flexible working arrangements either informally or via alterations to their contracts during this time. Additionally, it isn’t just about what was written, but also about the implicit understandings that may have developed during a time of global crisis. Employers must tread cautiously, ensuring any shift respects both legal and moral bindings. It invites a nuanced approach—one that balances legal compliance with the expectations of a workforce that has tasted flexibility and may feel aggrieved or even discriminated against if they are asked to do something that has not been the norm for a period.

The necessity of dialogue: Listening as an operational strategy

Open communication with employees is something to be encouraged—a critical yet sometimes overlooked cornerstone of organisational change. Consulting employees about such substantial shifts isn’t just a legal formality; it’s an opportunity to forge a deeper connection.

Meaningful dialogue can unearth insights, prompt innovation, and even identify potential pitfalls early. It shifts the narrative from mere compliance to collaboration, transforming the potential friction of policy changes into a symbiotic evolution.

Health and safety redefined

Amazon’s move triggers fresh assessments of the workplace environment. The pandemic has indelibly altered the benchmarks for what constitutes a ‘safe’ workplace.  Health and Safety, now more than ever, must encompass mental as well as physical well-being. This necessitates not just risk assessments but also a rededicated focus on mental health resources and a culture that fosters psychological safety. As employers, the challenge lies in evolving health and safety policies from checklists to cultural cornerstones.

The flexible working paradigm

Amazon’s announcement also brings into sharp focus the delicate dance around flexible working requests. The law permits employees from the first day in their roles the statutory right to request flexible working, yet this needs thoughtful navigation.

The discourse should lean towards the art of the possible—how can flexible working be shaped to benefit both the employee and the organisation? This isn’t just about managing refusals; it’s about genuine engagement and innovative problem-solving to harmonise operational needs with employee aspirations. The fact is that a return to a static, office-bound work model introduces significant practical challenges, from commuting logistics to work-life balance disruptions.

Employers might consider hybrid models or phased returns. Rather than this being perceived as a sign of indecision, an alternative view would be to judge this as a compromise of flexibility and a strategic virtue. By giving employees time to adjust, employers can ease potential frictions and cultivate a more resilient workforce for a sustainable future.

Regulatory reflection

Finally, any return to office mandates must align with evolving regulatory landscapes. The dynamic nature of Government guidelines necessitates ongoing vigilance and adaptability. In the event of future public health crises, businesses should be prepared to rapidly adapt its working policies to align with legal requirements and public health recommendations.

Knowledge is power. Employers need to stay abreast of changes, adapting policies proactively rather than reactively. This proactive stance isn’t just about avoiding legal pitfalls but about embodying a forward-thinking, employee-centric ethos.

Beyond the mandate

Amazon’s decision serves as a significant impetus for reflection. It challenges UK employers to look beyond mere mandates and towards a broader re-imagining of work. How can organisations blend operational exigencies with the evolved expectations and needs of their workforce? From contractual modifications and health and safety obligations to handling flexible working requests, businesses will need to navigate a range of legal and practical considerations. Successfully managing this transition requires careful planning, robust consultation, and a commitment to employee welfare.

By advocating for a thoughtful, compassionate, and strategic approach, employers can transform potential unrest into a unifying journey towards a reinvigorated workplace. The goal is not to return to the old normal but to craft a new one—a workplace that respects the lessons of the pandemic, embraces flexibility as strength, and champions a culture where both business and employees thrive in tandem.

UK commercial real estate shows strong performance, says BNP Paribas

Posted on by Sarah O'Sullivan

Investor sentiment has improved, with sterling continuing to strengthen, reaching its highest level against the dollar and the euro in over two years. This helps to attract overseas investors and boost UK weightings in global real estate allocations.

Performance is recovering too and total returns were positive across all main sectors over the last three months – the first time this has been the case in over two years. It is important to note, however, that this recovery is expected to be gradual  as investors and the market continue to find their feet.

Etienne Prongué, CEO of BNP Paribas Real Estate commented, “UK real estate data continues to be reassuring. The trajectory for capital value is now positive across all property types and confirms the UK market is further along in its recovery than the rest of Europe. With the development pipeline remaining constrained and business surveys continuing to point to expansion, our forecast for prime office returns point to continuing UK outperformance over the next five years.”

Modest recovery for retail

The latest data from Colliers indicates that the retail market is showing signs of modest recovery.

In capital markets, retail investment volumes increased to £200m in August. Although this is above the £150m reported in July, it is still significantly lower than the five-year monthly average for August, which stands at £660m. The largest single-asset transaction in August came from JP Morgan, who bought 291 Oxford Street for £70m at a 5.8% yield.

In occupier markets, retails sales volumes increased by 2.5% annually in August but are still below pre-pandemic levels. Meanwhile, annual retail price inflation was at 3.5% in August, having lowered to 2.9% in June. Also, retails rents have risen for 22 consecutive months.

Positive sentiment from Savills

According to Savills, there seems to be a more positive sentiment in the UK commercial market.

All sectors saw yields trend downwards or stay the same in August. Investment research firm MSCI reported that total returns were positive across the whole UK commercial market. The only sector displaying a yearly negative return was offices; however, Savills expects this sector to pick up and return to positive territory in Q1 2025. Future supply is very limited, which will cause prime rents to keep increasing.

The UK dominated European activity in H1 of this year, with a 29% share of investment volumes – 24% above the five-year average. There has been a notable increase in activity from French SCPI (Société Civile de Placement Immobilier) collective funds, who are investing in UK regional markets.

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the investor’s individual circumstances. No part of this document may be reproduced in any manner without prior permission.

 All details are correct at the time of writing (16 October 2024)

Tees are here to help

We have many specialist lawyers who are based in:

Cambridgeshire: Cambridge
Essex: Brentwood, Chelmsford, and Saffron Walden
Hertfordshire: Bishop’s Stortford and Royston

But we can help you wherever you are in England and Wales.  

Employment (Allocation of Tips) Act 2023: Key info for hospitality

Posted on by Sarah O'Sullivan

From 1 October 2024, the UK hospitality sector was subject to the introduction of the Employment (Allocation of Tips) Act 2023. The legislation has been designed to facilitate transparency and fairness in distributing tips, gratuities, and service charges among workers. The law addresses long-standing concerns over tip management, particularly as the industry moves toward cashless transactions.

How this will impact employers and workers in the UK’s hospitality sector remains to be seen. Having conducted a first review of the Act (and the accompanying statutory Code of Practice), the key provisions include:

  • Obligation to pass on tips in full: Employers must pass on 100% of tips to their workers, with the only deductions allowed being those required by tax law.
  • Fair distribution: Employers must allocate tips fairly and transparently (my emphasis). Tips must be distributed within one month of being received.
  • Record keeping and written policy: Employers are required to maintain records of tip distribution for a minimum of three years. In addition, businesses where tipping occurs more than occasionally must implement and make available a written tipping policy.
  • Worker rights: Workers can request a copy of their tipping record to ensure compliance, and they may bring claims to the Employment Tribunal if they believe their tips are not being handled fairly.
  • Agency workers: The Act also benefits agency workers, with provisions ensuring that tips distributed by an employer are passed on to them.

Impact on employers

The Act introduces administrative responsibilities for employers, particularly those in hospitality businesses where tipping is a regular occurrence. Employers will now be required to keep detailed records of tip allocation. As tipping becomes more commonly effected via card or electronic transaction, businesses may need to absorb these processing fees, which could impact their bottom line.

Clear and accessible tipping policies will become obligatory to ensure all workers understand how tips are distributed. For many businesses, this will require developing and communicating new procedures.

Businesses that fail to comply with the legislation may face claims in the Employment Tribunal. Workers can request their tipping records and seek compensation if they believe they are being shortchanged, with compensation awards potentially reaching £5,000.

Impact on workers

For hospitality workers, this Act represents a significant step toward ensuring that tips are distributed fairly and transparently, addressing long-standing issues of employer tip retention. Workers will receive their tips in full, without deductions for administrative or processing costs. This is particularly important for low-wage workers who rely on tips to supplement their income.

Additionally, workers can request records showing how tips are allocated, ensuring transparency in the process. This accountability mechanism helps protect earnings and ensures that workers can challenge any perceived unfair practices. Further, in a departure from historical legislation, agency workers will now be entitled to receive tips fairly, adding a layer of protection for this often-vulnerable segment of the workforce.

Challenges and concerns

Although the legislation promises benefits for workers, both businesses and those working for them may encounter challenges. For establishments that rely heavily on tips, implementing new record-keeping systems and complying with statutory obligations will require careful planning and investment. While larger businesses may be able to absorb the costs associated with processing tips via card, smaller establishments might struggle. Some may even consider returning to a cash-only tipping policy, potentially reducing the amount of tips workers receive in the long term.

The Act mandates fairness but does not prescribe how tips should be allocated. When distributing tips, employers are encouraged to consider factors like seniority, hours worked, and performance. However, this could lead to disagreements among staff, particularly in businesses where tips are a significant part of total compensation.

Legal compliance and best practices

Businesses should consider the following steps:

  1. Audit Current Tipping Practices: Review how tips are currently managed and make any necessary adjustments to comply with the new requirements.
  2. Develop a Tipping Policy: Create a clear, written tipping policy that outlines how tips will be distributed. Ensure that this policy is communicated effectively to all workers, including agency staff.
  3. Keep Detailed Records: Set up systems for recording how tips are allocated and distributed. Employers should be prepared to provide this information upon request from workers.
  4. Consider Independent Troncs: Many businesses in the hospitality sector already use a “tronc” system to manage tip distribution. The Act allows the use of independent tronc operators, as long as they operate fairly. Using a tronc can help businesses manage the complexity of tip distribution and avoid disputes.
Looking forward

The Employment (Allocation of Tips) Act 2023 is a much-anticipated reform designed to introduce fairness and transparency to tipping practices within the UK’s hospitality sector. While imposing more responsibilities on employers, this legislation promises significant benefits for workers by ensuring they receive their earned tips without deductions.

Employers are encouraged to take proactive measures to prepare for these changes, set to take effect on 1 October 2024. By establishing clear tipping policies and practising transparency, businesses can mitigate potential disputes and promote a fairer workplace.

This legislation marks a significant victory for workers in ensuring fair treatment and protecting their income in an industry where tips form a vital part of their compensation.

Navigating collective redundancy: A look at the UK procedure through Dyson’s lens

Posted on by Sarah O'Sullivan

Understanding Collective Redundancy in the UK

In the intricate web of corporate restructuring, the concept of collective redundancy stands out, especially in the context of UK employment law. It’s a process that isn’t just procedural but profoundly impacts the employees’ lives. For companies like Dyson, known for their innovation in household appliances, navigating through such terrain is as much about legal compliance as maintaining workforce morale and brand integrity.

Dyson’s Workforce Reduction: An Overview

Dyson is reducing its staff in the UK by approximately 1,000 positions as a component of a worldwide restructuring effort, effectively decreasing its British staff by over a quarter. On Tuesday morning, employees were informed of the job reductions, which are part of a strategy to decrease the company’s global workforce of 15,000 as part of an extensive cost-reduction initiative.

Addressing work issues across international boundaries is complex and beyond the scope of this article. Various practical challenges and differing methods are involved, and grasping these is crucial for carrying out a fair procedure that minimises the risk of potential litigation.

The UK’s Collective redundancy framework

At the heart of the UK’s approach to mass layoffs is the principle of “collective consultation.” This principle comes into play when an employer, such as Dyson, considers dismissing 20 or more employees within 90 days or less. It’s not merely a procedural step but a fundamental right—ensuring employees have a voice in the profound changes affecting their livelihoods.

Key legal precedent: The woolworths case

The European Court of Justice (ECJ) fleshed out these principles in the landmark USDAW v Ethel Austin case, known as the Woolworths case, in April 2015. The court clarified that once the threshold of 20 redundancies is crossed within a single establishment, employers are obligated to engage in collective consultations. Interestingly, this consultation privilege extends beyond those facing redundancy to any employees potentially impacted by the changes.

The procedure and timeframes

For large-scale operations like those Dyson might consider, two crucial timeframes are stipulated:

  • 45 days of consultation for 100 or more dismissals
  • 30 days for 20 to 99 dismissals

This advanced consultation period is not just about notifying employees; it is about engaging with them, discussing possible alternatives, and ensuring that the redundancy process is carried out as smoothly and humanely as possible.

Implementing Dyson’s redundancies

Given Dyson’s global footprint and its commitment to innovation, the company finds itself often at the crossroads of adapting its workforce to meet evolving market demands. If Dyson were to implement collective redundancies in the UK, engaging in a thorough collective consultation process would be imperative. Not only would this comply with legal requirements, but it would also reflect the company’s values by treating its workforce with respect and dignity during challenging times.

Dyson will need to openly discuss the reasons behind the potential redundancies, explore alternatives with employee representatives, and ensure that the process is transparent and fair. This could involve looking into options such as redeployment within the company, voluntary redundancy packages, or other measures to minimise the impact on its employees.

Potential pitfalls if the process goes wrong

Failure to consult correctly can have profound financial implications for a company, emphasising the importance of adhering to the specific legal requirements for collective consultation.

In a UK redundancy situation, if an employer does not meet the collective consultation requirements, employees can make a claim to an Employment Tribunal. If the claim is successful, the employer may have to pay the affected employee or employees compensation, known as a ‘protective award’. This compensation can be up to 90 days’ full pay for each affected employee.

Not only this, but improper handling of the consultation process can also lead to legal challenges. Employees might claim unfair dismissal, and the company could face financial penalties if found to be non-compliant with statutory requirements.

Impact on brand and employee morale

On a personal level, mishandling redundancies can inflict long-lasting damage on a company’s reputation. For a brand like Dyson, known for its innovation and quality, public perception can significantly impact consumer trust and loyalty.

This could also have a detrimental impact on retaining the remaining staff. Poor handling of such processes can demoralise survivors, affecting productivity and potentially leading to further employee turnover. Employees who see their former colleagues treated unfairly might start looking for more secure employment opportunities.

Furthermore, a sudden and poorly managed redundancy process can lead to gaps in operations, affecting service delivery and business performance.

Navigating the redundancy process with care

For a company like Dyson, navigating the collective redundancy process with care and consideration is crucial. Every step needs to be meticulously planned and executed. While the process is primarily about compliance, it also strongly reflects the company’s values and regard for its workforce. A transparent, fair, and well-managed consultation process not only minimises legal and financial risks but also upholds the company’s ethos, maintaining its reputation as a responsible employer.

Navigating the complexities of collective redundancy procedures in the UK presents a significant challenge, involving both a deep understanding of legal nuances and a compassionate approach towards the workforce. For businesses transiting through such a phase, the importance of following each step meticulously cannot be overstressed, given the potential financial, legal, and reputational repercussions of failing to meet the required standards.

The dialogues around collective redundancies, from consulting with employee representatives to addressing final decisions, highlight an employer’s commitment to fair and ethical business practices. While this guide serves as a primer for understanding the critical aspects of the redundancy consultation process and its importance, each situation’s unique characteristics can introduce specific complexities that deserve personalised attention and expertise.

Should you require additional insights, detail on legal obligations, or guidance on managing the collective redundancy process within your organisation, our team at Tees Law is here to provide comprehensive support. Navigating such pivotal moments requires not just legal acumen but an in-depth appreciation of the human elements involved. Contact Tees Law for further assistance and advice to ensure that your redundancy procedures are managed effectively, compassionately, and in full compliance with current UK employment law.

Residential market improves as demand and mortgage rates align

Posted on by Sarah O'Sullivan

Improving conditions in the residential market

According to Savills, activity in the residential property market is picking up as house prices continue to show modest growth.

In August, mortgage approvals were only 3% below pre-pandemic levels. In September, sales agreed and new instructions were 8% and 9% above their respective 2017-2019 averages, highlighting that supply and demand are growing together.

The boost in market activity coincides with a fall in mortgage rates – in August 2023, the average rate for a two-year fixed mortgage with a 75% loan to value (LTV) was 6.2%. In August 2024, this lowered to 4.8%.

Although conditions are improving, house price growth is expected to be limited due to the increased cost of living over recent years. Plus, general market growth will depend on Autumn Budget announcements and any potential reductions to Bank Rate and inflation.

Rental market update

The latest report from Zoopla has highlighted that rental inflation is slowing but tenant demand remains high. 

Over the last year, rents have risen by 5.4%; while this is a significant increase, it is the slowest pace of growth in three years. Rental inflation is not slowing at the same pace as household inflation and earnings because tenant demand continues to outweigh the supply of rental properties. There are currently 25% fewer rental homes available than in 2019. This is partly due to landlords deciding to sell—a trend that could continue depending on what tax changes the Labour government may have in store.

September data shows that the average rent for new UK lets was £1,245 per month, but the cost varies significantly from region to region. According to Rightmove, the cheapest UK city for renters is Carlisle, whose average rent is £791 – 41% below the national average. Following closely behind is Hull (£804), Sunderland (£807) and Stoke-on-Trent (£863).

UK Finance’s recommendations for the Autumn Budget

UK Finance has made a series of recommendations to the Labour Party ahead of the Autumn Budget. 

The trade association has suggested that the government introduce a Stamp Duty rebate scheme to motivate homeowners to upgrade their homes’ energy efficiency. The body also recommended that Stamp Duty bands be raised annually to correlate with increases in the average house price.

The Stamp Duty threshold for first-time buyers is set to be reduced in March 2025, meaning the tax will be payable when purchasing a property worth £300,000 or more. But UK Finance has urged the Labour Party to keep the threshold at the current higher limit of £425,000.

Chief Executive of UK Finance, David Postings, commented, “We have called on the government to not only introduce measures to bolster growth, but also a range of ideas to help support households and businesses up and down the country.”

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

All details are correct at the time of writing (16 October 2024)

Employment Rights Bill 2024: Worker protections and productivity

Posted on by Sarah O'Sullivan

Understanding the Employments Rights Bill 2024

The Employment Rights Bill 2024 (the Bill), unveiled on 10 October, introduces significant changes to the UK’s employment laws, marking the largest overhaul in decades. With 28 reforms, the Government has presented the Bill as aiming to enhance worker protections and boost productivity across the economy.

One of the standout changes is enhanced “day one” rights, including the right not to be unfairly dismissed (see also below). With this, there is a proposed introduction of a statutory probation period for new hires. This may allow employers more time to assess employee suitability notwithstanding the new day one rights being introduced.

Key Reforms: Day-one rights and probation periods

One of the most significant reforms is the removal of the existing two-year qualifying period for protection against unfair dismissal. This change ensures that an estimated nine million workers will benefit from protection from unfair dismissal as soon as they start a new role.

Additionally, the bill includes day-one rights for paternity leave, unpaid parental leave, and bereavement leave, building on the existing day-one right to maternity leave. This is a major change.

The Government will consult on a statutory probation period, with the current proposal favouring a nine-month limit. This extension, which has drawn mixed reactions from businesses and unions, is intended to provide flexibility for employers, while maintaining worker protections throughout the probation period. Full implementation of this probation reform is expected by autumn 2026, following further consultations.

End of exploitative practices and strengthened sick pay

The bill also takes aim at so called exploitative zero-hours contracts and controversial fire-and-rehire practices. These reforms are intended to provide more job security and protections, especially for workers on flexible or irregular contracts. For those on zero-hours contracts, the bill introduces the right to guaranteed working hours after a set period, ensuring greater financial stability for over a million workers.

Another key reform is the overhaul of statutory sick pay. Under the new provisions, workers will be entitled to sick pay from day one of illness, removing the previous three-day waiting period and the lower earnings limit. This change aims to provide immediate financial support for those who fall ill, especially lower-paid workers who previously did not qualify for statutory sick pay.

Flexible working and gender pay gap action plans

Recognising the changing dynamics of the modern workplace, the bill makes flexible working the default, unless employers can demonstrate that it is impractical. This reform is designed to support workers with caregiving responsibilities and improve work-life balance across various sectors.

Large employers will also be required to implement action plans to address gender pay gaps and support female employees, particularly through menopause. This measure is part of a broader push to promote inclusivity and diversity within the workforce.

Fair work agency and long-term reforms

The bill establishes a new “Fair Work Agency”, tasked with enforcing key rights such as holiday pay and sick pay. This agency will consolidate existing enforcement bodies, providing better guidance for employers while ensuring compliance with the new laws. The government has also outlined future reforms in its “Next Steps” document, including plans for a right to disconnect, mandatory reporting on ethnicity and disability pay gaps, and a move towards a simpler, two-tier worker status framework.

While the Employment Rights Bill boasts a sweeping set of reforms, many of the provisions will take time to implement, with some requiring further consultations before being fully enacted. Nevertheless, the bill represents a bold step towards improving worker protections and enhancing productivity in the UK economy.

Contact us today for more insights into how these changes may affect your business or employment. We provide legal guidance on navigating this new landscape and ensuring compliance with evolving employment laws.

For any questions, please contact us at employmentteam@teeslaw.com.

Employment Rights Bill 2024: Worker protections and productivity

Posted on by Sarah O'Sullivan

Understanding the Employments Rights Bill 2024

The Employment Rights Bill 2024 (the Bill), unveiled on 10 October, introduces significant changes to the UK’s employment laws, marking the largest overhaul in decades. With 28 reforms, the Government has presented the Bill as aiming to enhance worker protections and boost productivity across the economy.

One of the standout changes is enhanced “day one” rights, including the right not to be unfairly dismissed (see also below). With this, there is a proposed introduction of a statutory probation period for new hires. This may allow employers more time to assess employee suitability notwithstanding the new day one rights being introduced.

Key Reforms: Day-one rights and probation periods

One of the most significant reforms is the removal of the existing two-year qualifying period for protection against unfair dismissal. This change ensures that an estimated nine million workers will benefit from protection from unfair dismissal as soon as they start a new role.

Additionally, the bill includes day-one rights for paternity leave, unpaid parental leave, and bereavement leave, building on the existing day-one right to maternity leave. This is a major change.

The Government will consult on a statutory probation period, with the current proposal favouring a nine-month limit. This extension, which has drawn mixed reactions from businesses and unions, is intended to provide flexibility for employers, while maintaining worker protections throughout the probation period. Full implementation of this probation reform is expected by autumn 2026, following further consultations.

End of exploitative practices and strengthened sick pay

The bill also takes aim at so called exploitative zero-hours contracts and controversial fire-and-rehire practices. These reforms are intended to provide more job security and protections, especially for workers on flexible or irregular contracts. For those on zero-hours contracts, the bill introduces the right to guaranteed working hours after a set period, ensuring greater financial stability for over a million workers.

Another key reform is the overhaul of statutory sick pay. Under the new provisions, workers will be entitled to sick pay from day one of illness, removing the previous three-day waiting period and the lower earnings limit. This change aims to provide immediate financial support for those who fall ill, especially lower-paid workers who previously did not qualify for statutory sick pay.

Flexible working and gender pay gap action plans

Recognising the changing dynamics of the modern workplace, the bill makes flexible working the default, unless employers can demonstrate that it is impractical. This reform is designed to support workers with caregiving responsibilities and improve work-life balance across various sectors.

Large employers will also be required to implement action plans to address gender pay gaps and support female employees, particularly through menopause. This measure is part of a broader push to promote inclusivity and diversity within the workforce.

Fair work agency and long-term reforms

The bill establishes a new “Fair Work Agency”, tasked with enforcing key rights such as holiday pay and sick pay. This agency will consolidate existing enforcement bodies, providing better guidance for employers while ensuring compliance with the new laws. The government has also outlined future reforms in its “Next Steps” document, including plans for a right to disconnect, mandatory reporting on ethnicity and disability pay gaps, and a move towards a simpler, two-tier worker status framework.

While the Employment Rights Bill boasts a sweeping set of reforms, many of the provisions will take time to implement, with some requiring further consultations before being fully enacted. Nevertheless, the bill represents a bold step towards improving worker protections and enhancing productivity in the UK economy.

For more insights into how these changes may affect your business or employment, contact our Tees Law team. We’re here to provide legal guidance on navigating this new landscape and ensuring compliance with evolving employment laws. We’ll be running webinars and workshops on the new rules and how businesses can navigate these new waters over the coming weeks and months. Please get in touch with us if you are interested in these.

On Wednesday 6 November we are running a specific webinar around Employment Law changes that the Labour government has proposed. You can register your interest here: https://communications.teeslaw.com/27/178/landing-pages/rsvp-blank.asp.

For any questions, please contact us at employmentteam@teeslaw.com.

Navigating AI regulation in the UK: Essential insights for employers

Posted on by Sarah O'Sullivan

This year, the European Parliament formally adopted the Artificial Intelligence Act (“AI Act”), the first comprehensive law designed to regulate AI on a broad scale across the European Union.

This landmark piece of legislation which was introduced on 13 March 2024 laid the foundation for AI governance within the EU but has left some UK employers wondering how these developments will influence the regulatory landscape, particularly as we observe the new long-term objectives for AI that have been proposed by our Labour Government.

The Current UK regulatory landscape

Last year on 3 August 2023, the Government released their AI Regulation White Paper which indicated that the UK had no plans to introduce a horizontal AI regulatory framework like the EU. Instead, the feedback received as part of the Government’s consultation on the policy suggested that the UK would lean more towards adopting a principles-based model that would allow existing sector-specific regulators to tailor AI regulations according to their respective industries. At present, this position remains unchanged, and it is likely that we will see AI-specific laws and regulations introduced in the UK in the not-so-distant future.

As the UK Government enacts its AI agenda, employers will have to navigate several considerations for effective AI regulation and compliance. Below, we have explored some of the essential areas that employers should focus on as they look to integrate AI systems into their businesses.

Sector-specific regulation

Employers should familiarise themselves with how AI regulations may differ across various industries. Each sector may be guided by unique regulatory bodies that impose different requirements for AI use, and which would necessitate a more proactive approach to compliance. In addition to this, businesses should conduct their own assessment of AI technology to ensure that it adheres to existing regulations and anticipate any future legislative changes.

AI development

The Government has emphasised the importance of responsible and ethical AI use. Employers will need to ensure they engage in best practices around transparency, accountability and inclusivity where AI is deployed, to mitigate potential risks (where possible) and maintain public trust. This may involve implementing new policies and guidelines for the ethical deployment of AI technologies.

Impacts on employees

As AI systems evolve, so do their effects on the workforce. Employers should understand the implications of AI on jobs and employment dynamics. Preparing the workforce for reskilling and deploying AI in underserved areas of business will be crucial for maintaining a productive and efficient working environment. Earlier this year, The Institute for Public Policy Research estimated that roughly 11% of workplace tasks are exposed to automation through existing generative AI, and that this could rise to 59% of tasks in the second wave of AI adoption as technologies develop to handle increasingly more complex processes.

Data privacy and security

With AI’s reliance on handling vast amounts of data, compliance with existing data protection regulations (such as the General Data Protection Regulations) is highly important. Employers must ensure their AI systems are secure and responsible in their data usage and align with the latest best practices.

Monitoring regulatory changes

The AI regulatory landscape is continuously evolving. Employers should establish mechanisms to stay informed about upcoming regulations, guidelines, and industry standards that could impact their practices. This could involve, among other things, engaging with industry associations, regulatory bodies, and participating in relevant forums.

As employers look to navigate the evolving AI landscape, it is crucial that they adapt and remain compliant with the latest legal requirements. Company policies, hiring practices, and data privacy protocols should be reviewed periodically to reflect the changes to AI tools and technologies. Encouraging a culture of continuous learning by helping employees upskill and adapt to these changes can be an advantageous strategy and help equip staff with the knowledge to use AI responsibly and effectively.

Balancing innovation with regulation always requires a strategic approach. Businesses should consider using AI effectively whilst adhering to new legal and ethical standards to stay compliant and support a responsible and sustainable AI-driven future.

At Tees, we have specialist Employment Law experts with many years of experience who can help businesses navigate the complex and evolving AI landscape confidently and clearly.

UK economic growth forecast upgraded

Posted on by Sophie Soraf

Economic review September 2024

On markets at the end of September, with investors and traders closely monitoring regional developments. 

At month end, stocks retreated following implications from Federal Reserve Chairman Jerome Powell that further interest rate cuts are likely to occur at a more measured pace.

Across the pond, the Dow Jones closed the month up 1.85% on 42,330.15. The tech-orientated NASDAQ closed the month up 2.68% on 18,189.17.

On home shores, the FTSE 100 index closed the month on 8,236.95, a loss of 1.67%, while the FTSE 250 closed the month 0.16% lower on 21,053.19. The FTSE AIM closed on 740.43, a loss of 4.15% in the month. The Euro Stoxx 50 closed the month on 5,000.45, up 0.86%. In Japan, the Nikkei 225 closed September on 37,919.55, a monthly loss of 1.88%.

On the foreign exchanges, the euro closed the month at €1.20 against sterling. The US dollar closed at $1.33 against sterling and at $1.11 against the euro.

Brent crude closed September trading at $71.65 a barrel, a loss over the month of 6.74%. The conflict in the Middle East is causing some price volatility. OPEC+ plans to begin increasing production in December is pressurising prices, while weak demand in China also weighs. Gold closed the month trading at $2,629.95 a troy ounce, a monthly gain of 4.64%. Prices retreated at month end, reversing recent strong gains as increased safe-haven demand prompted a rally in the precious metal.

Index

Value (30/09/24)

Movement since 30/08/24

FTSE 1008,236.95-1.67%
FTSE 25021,053.19-0.16%
FTSE AIM740.43-4.15%
Euro Stoxx 505,000.45+0.86%
NASDAQ Composite18,189.17+2.68%
Dow Jones42,330.15+1.85%
Nikkei 22537,919.55-1.88%

Retail sales stronger than expected

The latest official retail sales statistics revealed a healthy growth in sales volumes during August, while more recent survey data points to further modest improvement both last month and in October.

Figures released by ONS showed that total retail sales volumes rose by 1.0% in August, following upwardly revised monthly growth of 0.7% in July. ONS reported that August’s rise, which was higher than economists had predicted, was boosted by warmer weather and end-of-season sales.

Evidence from last month’s CBI Distributive Trades Survey also suggests retailers expect the summer sales improvement to have continued into the autumn period, with its annual retail sales gauge rising to +4 in September from -27 in August. In addition, retailers’ expectations for sales in the month ahead (October) rose to +5; this represents the strongest response to this question since April 2023.

CBI Principal Economist Martin Sartorius said retailers would “welcome” the modest sales growth reported in the latest survey. He also added a note of caution saying, “While some firms within the retail sector are beginning to see tailwinds from rising household incomes, others report that consumer spending habits are still being affected by the increase in prices over the last few years.”

National debt looks set to soar

Analysis published last month by the Office for Budget Responsibility (OBR) suggests national debt could triple over the coming decades if future governments take no action.

In its latest Fiscal Risks and Sustainability Report, the OBR said debt is currently on course to rise from almost 100% of annual GDP to 274% of GDP over the next 50 years due to pressures including an ageing population, climate change and geopolitical risks. It also warned that, without any change in policy or a return to post-war productivity levels, the public finances were unsustainable over the long term, and that ‘something’s got to give.’

The OBR is also tasked with producing a more detailed five-year outlook for the country’s finances that will be published alongside Chancellor Rachel Reeves’ first Budget, due to be delivered on 30 October. The Chancellor has previously warned the Budget will involve “difficult decisions” on tax, spending and welfare.

Data released last month by ONS showed that government borrowing in August totalled £13.7bn, the highest figure for that month since 2021. This took borrowing in the first five months of the financial year to £64.1bn, £6bn higher than the OBR forecast at the last Budget.

All details are correct at the time of writing (1 October 2024)

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

This material is intended for information purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Tees is a trading name of Tees Financial Limited, which is regulated and authorised by the Financial Conduct Authority. Registered number 211314.

Tees Financial Limited is registered in England and Wales. Registered number 4342506.

What to expect from your Conveyancer: A complete guide to property transactions

Posted on by Sarah O'Sullivan

Buying or selling a property is a significant milestone, but it can often feel overwhelming. That’s where a conveyancer comes in – to navigate the legal complexities and ensure your transaction is seamless.

What is a conveyancer?

A conveyancer is a legal professional specializing in property transactions. Their expertise ensures the legal transfer of property ownership is conducted efficiently and correctly.

Key responsibilities of a conveyancer

A conveyancer handles all the legal aspects of your property transaction, including:

  • Drafting and reviewing contracts
  • Conducting property searches
  • Liaising with mortgage lenders
  • Ensuring all legal documents are accurate
  • Managing the transfer of funds
  • Registering the property with the Land Registry

Why you need a conveyancer

Property transactions are often the largest financial investments people make. A conveyancer’s legal knowledge helps prevent costly mistakes and protects your interests. If you are using a mortgage, most lenders will also require a conveyancer to ensure their loan is properly secured against the property.

Who else is involved in a property transaction?

In addition to your conveyancer, other professionals may play a role, including:

  • Mortgage Brokers: Help secure a mortgage with favorable terms.
  • Surveyors: Assess the property’s condition to identify any structural issues.
  • Estate Agents: Represent sellers by marketing the property and negotiating terms.

Ensure any agreements made with third parties are confirmed with your conveyancer to ensure they are legally binding.

Risks of not using a conveyancer

Without a conveyancer, you risk legal oversights that can lead to severe consequences, including:

  • Title discrepancies
  • Boundary disputes
  • Uncovered restrictive covenants
  • Complications in property registration

A conveyancer provides a vital safety net, identifying potential issues before they become costly problems.

The conveyancing process: Step-by-step

Understanding the process can ease some of the stress associated with property transactions. Here’s what to expect:

1. Initial consultation

Your conveyancer will explain the process, gather key information, and outline the expected timeline. This is your opportunity to discuss any concerns or special requirements.

2. Drafting and reviewing contracts

For buyers, your conveyancer will review the draft contract pack from the seller’s solicitor. For sellers, they will draft the sale contract. Your conveyancer ensures the contracts are fair, clear, and protect your interests.

3. Conducting searches and raising enquiries

Property searches, including local authority checks and drainage reports, are essential to uncover any legal or environmental issues. Your conveyancer will also raise enquiries to clarify any concerns identified in the searches.

4. Exchanging contracts

Once both parties are satisfied and all legal requirements are met, contracts are exchanged. At this point, the transaction becomes legally binding, and the buyer usually pays a deposit (typically 10% of the purchase price).

5. Completion

On completion day, funds are transferred to the seller, and the buyer receives the keys. Your conveyancer will handle final legal formalities, including registering the property and paying any Stamp Duty Land Tax.

How long does the conveyancing process take?

While timelines can vary, the process typically takes 8 to 12 weeks. Factors like property chains, legal complications, or mortgage approval delays may impact this timeline.

Why Choose Tees

Choosing an experienced independent conveyancer can make all the difference in ensuring a smooth and successful property transaction. From legal protection to peace of mind, our support is invaluable. Whether you’re buying or selling, having our dedicated legal professional by your side will help you navigate the property market with confidence.

If you’re ready to take the next step, reach out to today to our qualified conveyancers to guide you through your property journey today.

Tees_NEG_RGB
Linkedin Facebook Youtube Instagram

Office locations
Bishop’s Stortford
Brentwood
Cambridge
Chelmsford
North Herts
Saffron Walden

Financial services:
Legal notices | Privacy notice
Legal services:
Legal notices | Privacy notice

All legal services provided by Tees are regulated by the Solicitors Regulation Authority. Tees is a trading name of Stanley Tee LLP is authorised and regulated by the Solicitors Regulation Authority (SRA Number 464615) and is registered in England and Wales number OC327874.

All financial services provided by Tees are regulated by the Financial Conduct Authority. Tees and Tees Wealth are trading names of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 4342506. Registered office address Tees House, 95 London Road, Bishop’s Stortford CM23 3GW.

Copyright © 2025 Tees Law. All rights reserved.

Pricing | Cookie Policy

tees-logo

Financial services:
Legal notices | Privacy notice

Legal services:
Legal notices | Privacy notice

Pricing | Cookie Policy

0800 0131165

Linkedin Facebook Youtube

All legal services provided by Tees are regulated by the Solicitors Regulation Authority. Tees is a trading name of Stanley Tee LLP is authorised and regulated by the Solicitors Regulation Authority (SRA Number 464615) and is registered in England and Wales number OC327874.

All financial services provided by Tees are regulated by the Financial Conduct Authority. Tees and Tees Wealth are trading names of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 4342506. Registered office address Tees House, 95 London Road, Bishop’s Stortford CM23 3GW.

Copyright © 2025 Tees Law. All rights reserved.

tees-logo

Our People

Insights

Office Locations

Contact us

About us

ESG

Offices

Our People

Insights

Careers

MyTees

Contact us

0800 0131165