Practice Area Archives

The biggest financial asset: Protection

Posted on 11 December 202428 March 2025 by Sophie Soraf

What comes to mind when considering an individual’s biggest financial asset? A house? Investments? Perhaps a classic car like the Ferrari 250 GTO? Surprisingly, the most significant financial asset is often overlooked: yourself! For business owners and employees alike, the knowledge, skills, and effort you bring to the table are what drive your income and wealth. As the saying goes, “knowledge is power,” and protecting yourself is essential.

The cornerstone of any financial plan rests on the individual generating the income. Safeguarding your income is crucial—because if it disappears, what then? All financial stability starts with a solid foundation.

To put this in perspective, consider data from the Office of National Statistics (ONS), which estimates that in 2022, the average UK worker aged 16 to 65 could earn up to £606,000 in their lifetime. Despite this, a worrying trend emerges; in 2022, only 35% of the UK population has a life policy in place. This leaves 65% of people unprotected in the event of illness, injury, or worse.

In an unpredictable world, planning for the unexpected is not just prudent; it’s essential. A well-designed protection policy can offer peace of mind and financial security for you and your loved ones.

Whether you’re looking to safeguard your family, secure your income, or provide for future needs, understanding the different policies and what they protect can help you make informed decisions and seek professional help.

There are four types of protection policies we will talk about:

Life insurance
Income protection
Family income benefit
Critical illness cover

The Importance of Protection:

Life is full of uncertainties. Whilst we cannot predict the future, we can prepare for it. Setting up a protection policy ensures that when life takes an unexpected turn, whether due to illness, injury, or an untimely death, your financial obligations remain covered. Bills still need to be paid, food still needs to be bought, and life must go on.

Protection policies are an essential part of a robust financial plan. They provide support for income loss, cover medical expenses, and ensure that loved ones remain financially secure. Let’s explore the different types of protection available.

Life insurance:

Life insurance is more than just a policy; it’s a promise. It ensures that if the policyholder passes away during the policy term, a lump sum will be paid to their chosen beneficiaries. These proceeds can help alleviate financial hardships during an already difficult time.

Life insurance is especially beneficial for those with dependents, such as children, a partner, or relatives who rely on their income. It can cover significant expenses like:

Mortgage repayments
Funeral costs
Children’s education fees
Day-to-day living expenses

The lump sum payout is tax-free and can be used however the beneficiaries see fit. This gives policyholders peace of mind, knowing that their family will remain financially stable even in their absence. For families facing the dual challenges of emotional loss and financial strain, life insurance is a vital safeguard.

Income Protection:

Have you ever considered how you would manage your finances if you could not work due to illness or injury? For most of us in the UK, our income is the greatest financial asset. It pays for the essentials: housing, bills, and food whilst simultaneously enabling us to enjoy life’s luxuries.

According to the ONS, the average gross annual earnings for full-time employees in 2024 was £37,430, so protecting this income for life essentials is vital. However, life is unpredictable, and unforeseen events can disrupt your ability to work.

Income protection insurance provides a safety net in such scenarios. If you are unable to work due to illness, injury, or other circumstances, the policy pays out a regular income—typically between 50% to 70% of your pre-tax earnings. These tax-free payments continue until you recover, retire, or reach the end of the policy term.

This type of coverage supports your everyday expenses and protects other financial assets, such as investments and savings, which you might otherwise need to dip into. Many assume they can rely on savings or family support during tough times, but this isn’t always feasible.

Family Income Benefit:

Family income benefit is a type of life insurance policy aimed towards families and those with dependants, such as children, parents, partners or siblings. It is designed to pay a regular tax-free income to your family if you were to pass away during the term of the policy.

Now what is the difference between Life insurance and Family Income Benefit? They both payout on your death, right?

Yes, however, a family income benefit pays out an ongoing monthly tax-free income, compared to a life insurance that pays out a tax-free lump sum payment.

This can provide stability for the beneficiaries who receive a steady income rather than having to manage a lump sum payout.

This policy ensures a steady cash flow to help your family with daily expenses up until the stated term period. For example, you might choose a 30-year term with a monthly payout of £1,000. If you were to pass away 10 years after taking out the policy, your beneficiaries would receive a tax-free income of £1,000 per month for the next 20 years.

Critical Illness Cover:

Critical illness cover is designed to pay out a tax-free lump sum if you were to get diagnosed with a listed “critical illness” that the policy covers, such as cancer, heart attack or stroke. Treatment for such conditions can be prolonged with the added burden of financial, emotional, physical and mental strain.

You will be entitled to receive the lump sum once you have been diagnosed with a specific illness listed under the policy. Upon receiving the lump-sum payment, it is up to you as to how you use the money, whether you want to pay off the mortgage, daily expenses, home alterations or a health-related cost. This can relieve some, if not all, financial burdens that you can face during a challenging time.

It is always important to remember that with all policies, you are paying for peace of mind for yourself and/or loved ones if the worse were to happen.

If we insure our homes and cars, why would we not insure our lives? By protecting the foundation of our financial structure, which is ourselves, this ensures you and/or loved ones have a level of financial security no matter what challenges life throws at you. You don’t build a house on loose foundations, do you?

Protect yourself – it’s the most valuable thing you can do!

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. It is not intended to provide and should not be relied on for accounting, legal or tax advice, or investment recommendations. Past performance is not a reliable indicator of future returns and all investments involve risks including the risk of possible loss of capital. Some information quoted was obtained from external sources we consider to be reliable.

Tees is a trading name of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered number 211314.

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

Tees welcomes new Residential Property expert Legal Director

Posted on 9 December 202429 March 2025 by Sarah O'Sullivan

Tees is pleased to announce the arrival of a new Legal Director in the Residential Property team.

Simon Cooper brings a wealth of experience from his time as a Partner in the Cambridge office at a Top 60 UK law firm, where he had led the Residential Property team in Cambridge, having previously also been a Partner in another long-established Cambridge-based practice.

On his appointment, Simon commented: “I am excited to be joining Tees, who are on an ambitious growth journey.

I followed my father into residential property work and its collaborative nature has always appealed to me. I love working as part of a team to try and solve problems and navigate a way through potentially tricky situations.

I work hard to get to know my clients, as they expect me to provide a balanced assessment of risk and a nuanced approach that reflects their needs, particularly in time-sensitive cases.

I am passionate about building those connections as ultimately, I’m convinced it makes me a better lawyer. I very much look forward to start working with Tees.”

Simon predominantly works for high-net-worth individuals who are either moving home themselves, or trading investment properties and want a bespoke level of advice and service.

Executive Partner of the Residential Property team, Anne Elliss, said: “I am delighted that Simon has taken the decision to join Tees.

It’s an exciting time for us here and we are delighted to have his wealth of experience and strategic thinking which will certainly elevate our residential property offering.

Simon will undoubtedly have a positive impact on our clients and the firm.”

Simon joins Tees in December 2024, having previously worked at HCR Law and brings a network of connections and breadth of experience in conveyancing for houses which sit on the upper end of the market. Simon will be predominantly based in Tees’ Cambridge office but will be assisting clients all over England and Wales.

Tees’ property conveyancing lawyers always act in the best interests of clients and aim to give robust and independent advice so that clients can make informed choices. The lawyers are members of the Law Society’s Conveyancing quality scheme and will cover everything from organising the local searches, checking contracts and making sure financial arrangements are in order, through to legal completion and clients receiving the keys.

Employers expected to take reasonable steps to prevent sexual harassment

Posted on 4 December 202421 March 2025 by Sarah O'Sullivan

Recent media coverage of allegations involving Gregg Wallace, underscore the challenges employers may face in managing third-party behaviour. While the specifics of the case remain unconfirmed and allegations are denied, the complaints shine a light on the importance of putting in place and enforcing robust preventative measures to mitigate such issues and risks. Employers should consider these situations when drafting and enforcing policies, particularly for roles or events involving significant interaction with external parties or clients.

The new duty

The Equality and Human Rights Commission (ECHR) have published guidance on the ‘reasonable steps’ employers should take to prevent sexual harassment at work.

As of 26 October 2024, employers must now take reasonable steps to prevent sexual harassment occurring at work. The Worker Protection Act 2023 changes section 40 of the Equality Act 2010 to include the new preventative duty.

As well as this, where a case of sexual harassment is proven, the tribunal will penalise the employer if they are also found to be in breach of the new duty, by increasing the employee’s compensation by up to 25%.

What are reasonable steps?

For employers, there is no exhaustive list of steps which need to be taken and what will be considered reasonable will be decided by a tribunal on a case-by-case basis. Therefore, recent guidance released by the ECHR gives employers the best possible idea of the steps which should be considered.

“Reasonable steps” or “all reasonable steps”

The Worker Protection Act was originally drafted to require that employers take “all reasonable steps” to prevent sexual harassment, but this was later diluted to a lower threshold of taking “reasonable steps”.

However, the Employment Right Bill is set to reinstate the higher threshold of taking all reasonable steps. If an employer has missed just one step to prevent sexual harassment which would be considered reasonable for them to have taken, the employer may face enforcement action from the ECHR or claims by the employee. The exact nature of how this will be enforced is not yet clear and we can expect more guidance in due course. For now, the importance of considering these issues and being ready with policies, procedures, training and guidance is key to mitigate the risks of claims and promote a safe and legally compliant workplace.

Employers should diligently follow the guidance below with careful consideration that the expected standard to prevent sexual harassment is going to be raised once again. Some of these changes are set to be introduced no earlier than 2026, however thorough preparations now will ensure a more efficient and cost-effective review of preventative measures next year.

Anti-harassment policies

Whilst an employer may already have in place some form of anti-harassment policy, it is now essential this addresses the prevention of sexual harassment specifically. Some key policy provisions suggested by the Equality and Human Rights Commission (ECHR) include:

Set out the preventative steps the employer is taking.

Site disciplinary action for those committing sexual harassment.
Allegations should be considered on a case-by-case basis, considering aggravating factors such as the seniority of the perpetrator.
Provide a definition of sexual harassment and include examples to promote clarity.
Include a procedure for how complaints will be handled to reassure victims and deter perpetrators, particularly with regards to third-party harassment.
The effectiveness of the policy should be reviewed at regular intervals.

Communication with workers

The guidance recommends promoting open communication amongst employees, to ensure employers have a good understanding of their work environment and that employees have a good understanding of the sexual harassment policy. This may be done via one-to-one’s, surveys or workshops for example. These will indicate the effectiveness of the preventative steps being taken and assist in identifying if changes need be made.

Risk assessments

A thorough risk assessment that is routinely reviewed and considered will demonstrate that an employer is being proactive in identifying potential circumstances whereby sexual harassment may take place. Putting in place appropriate preventative measures will demonstrate that they have acted on their assessments and used the results to guide decisions on what steps need reviewing or adding.

The guidance considers environmental factors which should be considered when conducting risk assessments, including settings with power imbalances, lack of diversity, lone or night working, customer-facing work and external or social events.

Reporting systems

Ensuring that a reporting system allows for anonymous complaints to be raised will encourage complainants to come forward and deter perpetrators. Employers should keep thorough records of complaints raised and ensure these are kept confidential. An effective reporting system will assist employers in identifying any patterns which should in turn be considered during risk assessment reviews.

Training

Proactive and high-quality training for all members of staff should educate employees on how to identify sexual harassment, what to do if they experience or witness it and how to manage any complaints raised. Specialised training may be exceptionally important in work environments where third parties are frequently in contact with employees. To improve the impact of training, they should offer refresher training at regular intervals.

Addressing a sexual harassment complaint

The guidance recommends some key action points:

Immediately take steps to acknowledge and make plans to resolve a complaint. However, this does not mean making rushed decisions as to whether harassment took place, which should be subject to proper investigation.
Consider how the complainant wants the issue resolved.
Maintain confidentiality.
Protect the complainant and witnesses from being victimised during investigation.
Where applicable, ask the complainant if they want to report the allegation to the police.
Be cautious when using confidential agreements, also known as NDAs.
Maintain effective communication with the complainant.
Inform the complainant of any appeals process.

Sexual harassment by third parties

The ECHR specifically highlights that the prevention of third-party sexual harassment should be taken as seriously as internal harassment cases. Whilst these situations are much more difficult to control, the guidance recommends having reporting mechanisms and continually assessing high-risk work environments where employees may be left alone with third parties.

Evaluate and evolve

Employers should regularly evaluate the effectiveness of the steps they have in place to prevent sexual harassment. Ad hoc reviews should be made where changes arise in the work environment, work force or work type for example.

Employers are expected to have an accurate understanding of the level of sexual harassment in their workplace. Regularly collecting data will assist employers in gaining this understanding. In particular, the ECHR recommends reviewing informal and formal complaints data to identify trends and appropriate action. Anonymous surveys can be used to identify barriers to reporting sexual harassment and collaboration with worker networks or trade unions can help keep employers informed.

After having addressed a sexual harassment complaint, employers should ensure they set aside time to reflect on where their actions could have been improved. Where changes are identified, changes should always be implemented.

The ongoing situation with high-profile cases such as the one involving Gregg Wallace may serve as a reminder that no organisation is immune from scrutiny, and the legal expectations surrounding sexual harassment are shifting towards a more preventative approach.

Useful resources

Economic review – November 2024: Gradual shifts amid growing challenges

Posted on 3 December 202428 March 2025 by Sophie Soraf

Interest rates set to fall more gradually

Last month, the Bank of England (BoE) cut interest rates for only the second time since 2020 but also warned future reductions were likely to be more gradual due to the prospect of inflation creeping higher next year.

Following its latest meeting, which concluded on 6 November, the BoE’s nine-member Monetary Policy Committee (MPC) voted by an 8-1 majority to reduce rates by 0.25 percentage points, bringing the Bank Rate down to 4.75%.

Commenting after announcing the news, BoE Governor Andrew Bailey suggested rates were likely to “continue to fall gradually from here”. However, he did caution that they would not be reduced “too quickly or by too much.” Mr Bailey was also at pains to emphasise the word “gradual” and added that the reason for such an approach was that “there are a lot of risks out there in the world at large and also domestically.”

Alongside the rate announcement, the governor unveiled the BoE’s latest economic forecast, which takes into account the Chancellor’s budget measures. The updated projections suggest the policies announced in the Budget are likely to boost the headline rate of inflation by almost half a percentage point at its peak in just over two years’ time and result in it taking a year longer for inflation to return to the Bank’s 2% target level.

The latest inflation data published by the Office for National Statistics (ONS) two weeks after the MPC announcement revealed that the annual headline rate jumped from 1.7% in September to 2.3% in October. While this sharp increase was largely driven by October’s energy price hike, the figure did come in slightly ahead of analysts’ expectations. This overshoot, combined with the Governor’s comments, has undoubtedly increased the prospect of interest rates remaining unchanged following the MPC’s final meeting on 19 December.

UK economy losing momentum

ONS released gross domestic product (GDP) statistics last month showing the economy barely grew between July and September, while more recent survey evidence points to a further loss of economic momentum.

The latest GDP figures revealed that UK economic output rose by just 0.1% across the whole of the third quarter. This figure was weaker than economists had expected and represents a sharp slowdown from the 0.5% growth rate recorded during the second quarter of the year.

A monthly breakdown of the data also showed the economy actually contracted by 0.1% during September alone, with ONS reporting a significant drop in manufacturing output while the services sector flatlined. A number of economists blamed September’s weakness on Budget uncertainty which was felt to have impacted the behaviour of both firms and households.

Data from a recently released economic survey also suggests business optimism continued to slide in the weeks following October’s Budget. Indeed, the flash headline growth indicator from the S&P Global/CIPS UK Purchasing Managers’ Index (PMI) fell to 49.9 in November from 51.8 in October, the first time in 13 months the figure had dipped below the 50 threshold, denoting a contraction in private sector output.

S&P Global Market Intelligence’s Chief Business Economist Chris Williamson said, “The first survey on the health of the economy after the Budget makes for gloomy reading. Although only marginal, the downturn in output represents a marked contrast to the robust growth rates seen back in the summer and are accompanied by deepening concern about prospects for the year ahead.”

Last month also saw the BoE publish revised economic growth projections. While the Bank did trim this year’s forecast from 1.25% to 1.0%, it is now predicting a stronger 2025, with next year’s projected growth figure upped to 1.5% from a previous forecast of 1.0%.

Markets (Data compiled by TOMD)

At the end of November, investors closely monitored the threat of possible US tariffs and the ongoing political turmoil in France. On the last trading day of the month, European markets closed slightly higher as inflation estimates met expectations, while the FTSE 100 was flat. Meanwhile, across the Atlantic, US stocks tempered from record highs reached earlier in the week.

In the UK, the FTSE 100 index closed the month on 8,287.30, a gain of 2.18%, while the FTSE 250 closed November 1.88% higher on 20,771.57. The FTSE AIM closed on 732.49, a loss of 0.63% in the month. The Euro Stoxx 50 closed November on 4,804.40, down 0.48%. In Japan, the Nikkei 225 closed the month on 38,208.03, a monthly loss of 2.23%.

In the US, President-elect Donald Trump has outlined plans to place levies on imports from Canada, Mexico and China, with concerns that his plans could extend to other regions. The Dow Jones closed November up 7.54% on 44,910.65, while the tech-orientated NASDAQ closed the month up 6.21% on 19,218.17.

On the foreign exchanges, the euro closed the month at €1.20 against sterling. The US dollar closed at $1.26 against sterling and at $1.05 against the euro.

Brent crude closed November trading at around $68 a barrel, a loss over the month of 5.40%. Oil prices fluctuated at month end as speculation over OPEC+’s production plans heightened in advance of their December meeting. Gold closed the month trading at around $2,683 a troy ounce, a monthly loss of 1.84%.

*****

Index	Value	Movement since 31/10/24
FTSE 100	8,287.30	+2.18%
FTSE 250	20,771.57	+1.88%
FTSE AIM	732.49	-1.63%
Euro Stoxx 50	4,804.40	-0.48%
NASDAQ Composite	19,218.17	+6.21%
Dow Jones	44,910.65	+7.54%
Nikkei 225	38,208.03	-2.23%

Unemployment rate rises

Official figures published last month revealed a rise in the rate of unemployment, although ONS has warned that the data should be treated with some caution due to smaller survey sample sizes increasing data volatility.

The latest ONS labour market release showed the unemployment rate stood at 4.3% between July to September 2024; this compares to 4.0% for the previous three-month period. The data also revealed that the number of payrolled employees decreased by 9,000 in the three months to September, with early estimates suggesting the figure dropped by a further 5,000 in October.

Job vacancies also fell again, with 35,000 fewer reported in the August–October period compared to the previous three months. Overall, the statistics agency said that the latest batch of data points to a ‘continued easing of the labour market.’

ONS is currently in the process of overhauling the statistical methodology used to calculate its labour market figures – research released last month by the Resolution Foundation highlighted the current problems surrounding data reliability. According to the think tank’s analysis of tax office, self-employment and new population data, the official statistics may currently be failing to count as many as a million people who are believed to be in work.

Retail sales fall by more than expected

The latest official retail sales figures showed sales volumes declined ahead of October’s Budget, while more recent survey data points to ‘disappointing’ sales in November, too.

Figures released last month by ONS revealed that retail sales volumes fell by 0.7% in October, following a period of growth across the previous three months. While analysts had predicted a sales dip, October’s decline was larger than expected. ONS said the fall was driven by a ‘notably poor month for clothing stores’ but also noted that retailers across the board reported consumers holding back spending ahead of the Budget.

Data from GfK’s latest consumer confidence index did offer the retail sector some cheer, though, with the long-running survey reporting less pessimism post-Budget. November’s headline figure rose to its highest level since August, with growth recorded across all five components of the survey, suggesting consumers may have more appetite for spending in the run-up to Christmas.

November’s CBI Distributive Trades Survey, however, found retailers expect trading conditions to remain tough. While the survey did acknowledge ‘some improvement’ in the retail environment since the middle of the year, it also reported ‘disappointing sales’ in November with volumes expected to remain below seasonal norms in December too.

All details are correct at the time of writing (2 December 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 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.

The get Britain working again white paper

Posted on 29 November 202421 March 2025 by Sarah O'Sullivan

Britain’s labour market has faced numerous challenges in the last few years, with 2.8 million people reportedly unable to work due to long-term sickness^[1], one in eight young people not being in education or employment^[2] and having been most impacted by covid lockdowns in comparison to similar countries^[3]. It is further reported that health benefits in the UK have increased from £36 billion to £48 billion in the last financial year as a result of mental health worsening during successive lockdowns^[4].

With this in mind, the Government has published ambitions to implement a three-pillar strategy (detailed below) to improve economic inactivity in Britain, with a long-term goal of achieving an 80% employment rate:

Modern Industrial Strategy and Local Growth Plans: to create more good jobs in every part of the country.
Plan to Make Work Pay: to improve the quality and security of work.
Get Britain Working: to reform employment support.

The third limb in this plan has been set out in the Get Britain Working White Paper. The Paper has indicated aims to address six issues:

People being excluded from the labour market, especially those with health conditions, caring responsibilities or lower skill levels.
Young people leaving school without essential skills, access to learning or work.
People becoming stuck in insecure, poor quality and low-paying work.
Women caring for families experiencing challenges staying in and progressing at work.
Employers being unable to fill vacancies due to labour and skills shortages.
Disparity in labour market outcomes between different places and for different groups of people.

The Paper details several proposed actions and changes:

Improve the impact of the NHS
The Paper aims to tackle health conditions which are seen to contribute to unemployment, such as mental health, smoking and obesity. The support is to include Talking Therapies, the Tobacco and Vapes Bill and new treatments for obesity. Treatment for such health conditions will include improved access to employment advisers and Individual Placement and Support (IPS). The goal is to provide these services to 140,000 more people by 2028/29.
Give control to local areas
There will be funding of £125 million to introduce eight ‘trailblazers’ into local authorities in 2025/26. They will be tasked with connecting relevant local services and trialling new interventions.

Local areas will be supported to create their own Get Britain Working Plans and engage with local partners to assist with their implementation.

A Connect To Work programme will assist up to 100,000 people a year with employment, supported by the Shared Prosperity Fund, a locally controlled fund.
The Youth Guarantee
The Youth Guarantee aims to ensure young people aged 18-21 are learning or earning.

There will be 8 Youth Guarantee trailblazers working with £45 million of funding in 2025/26 to design and develop the Guarantee to improve opportunities for young people. The Apprenticeship Levy will be redeveloped to become more flexible and renamed the Growth and Skills Levy. They will create new foundation apprenticeships and shorter apprenticeships in key sectors. New partnerships will be developed to generate opportunities for young people.
Improve Jobcentre Plus
There will be funding of £55 million to reform Jobcentre Plus in 2025/26. It will build new relationships with employers. It will be integrated with local partners and aims to bring employment and careers advice together.
Review how employers promote healthy and inclusive workplaces
The review ending next summer will assess how the government can better support employers to:

Improve the recruitment and retention of disabled people and people with health conditions.
Prevent their workforce from becoming unwell.
Promote healthy workplace environments.
Implement early intervention for sickness absence.
Improve the rate of employees returning from sickness absence.

This review will complement the Make Work Pay reform, which aims to address job insecurity and expand flexible working.

Next steps

The government further plans to reform the health and disability benefits system and will bring forward a Green Paper in spring 2025.

For employers, there may be opportunities to embrace these initiatives but they should be considered carefully in the context of presently increasing employment law rights. Now is the time for employers to be agile and ready for change. It is essential that employers’ policies and procedures are tailored to drive recruitment and career development, whilst maintaining clear and robust procedures to address performance and conduct issues. For more information, speak to our team of specialist employment advisors at Tees.

Resources

[1] INAC01 SA: Economic inactivity by reason (seasonally adjusted) – Office for National Statistics (ons.gov.uk)

[2] Young people not in education, employment or training (NEET) – Office for National Statistics (ons.gov.uk)

[4] Sick pay timebomb that risks a lost generation of workers – BBC News

Budget uncertainty sparks market shifts and opportunities

Posted on 21 November 202425 March 2025 by Sarah O'Sullivan

There was some uncertainty within the housing market ahead of the Autumn Budget at the end of October, which was reflected in muted consumer activity.

House price growth slowed ahead of the first Labour Budget in 14 years according to Savills. Mortgage rates rose slightly at the end of October as lenders repriced their fixed rates around the Chancellor’s announcements. However, Knight Frank do still expect house prices to increase by 3% this year.

Rachel Reeves confirmed that the lower Stamp Duty thresholds will be reinstated in April 2025, which is likely to cause a flurry of purchases in Q1 of 2025. Meanwhile, the increase in Stamp Duty on additional residential properties could reduce supply into the private rental sector.

Overall, many experts think that the Budget will cause inflation rates to be higher than initially predicted. This would lead to elevated mortgage rates, with less likelihood of strong house price growth.

Hope for the rental market?

Conditions could start improving for renters, with Savills commenting that residential rental prices may have reached an ‘affordability ceiling.’

Figures from Zoopla show that UK annual rental growth slowed to 4.3% in September – a further decline from 4.6% in August.

Plus, it seems that the Renters’ Rights Bill may not have prompted too many landlords to leave the market, with Knight Frank reporting that between January – August this year, there were 6% more new lettings listings in Prime London than the same period in 2023. This is a welcome relief, as limited supply is already an issue across the rental sector.

Commenting on the Renters’ Right Bill, Gary Hall, Head of Lettings at Knight Frank, said, “The new rules are likely to cause some logistical problems for landlords, but we are not expecting an exodus. Those who were on the fence have already left and those who stayed have benefited from strong rental value growth in recent years.”

Increase in chain-free homes for sales

Nearly a third of homes listed on Zoopla are currently chain-free.

From April 2025, homeowners and investors could be charged up to twice the amount of Council Tax on their second homes, which has prompted many to sell. In turn, there has been a 33% increase in buyer enquiries on chain-free properties.

Perhaps unsurprisingly, the UK’s second home hotspots have the highest proportion of chain-free homes for sale – the North West (36.5%), Yorkshire and The Humber (35.9%) and the South West (35.9%).

Senior Property Researcher, Izabella Lubowiecka at Zoopla, commented, “Those looking at buying a home before Stamp Duty rates increase in April 2025 should think about buying a chain-free home as they tend to complete much faster. Now is a great time to look for properties, with more chain-free homes available than in previous months.”

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 (20 November 2024)

Managing the managers: Lessons from NHS accountability reforms

Posted on 21 November 202421 March 2025 by Sarah O'Sullivan

A new era of NHS accountability

The recent announcement by Health Secretary Wes Streeting, proposing stringent measures to overhaul NHS management, highlights a gear shift in how the Government expects healthcare performance to be scrutinised in England. NHS hospitals will soon be subject to league tables, measuring indicators like care delivery and financial performance, with the intention of making performance visible to the public. Managers of failing trusts may face dismissal if they are unable to drive improvements, while top performers will be rewarded.

While the drive for greater accountability is admirable, the NHS, like any employer, must manage change in culture, approach, and expectations with due regard for employment law.

The legal landscape: Understanding the employment bill

The Employment Bill introduces additional obligations and complexities that may make addressing performance and dismissing underperformers a daunting prospect for NHS employers.

Under the current law, employers must not discriminate based on “protected characteristics” under the Equality Act 2010 or dismiss an employee for whistleblowing. Employees with more than two years’ service also have general protection against unfair dismissal.

From an employment law perspective, several key aspects warrant attention:

Enhanced protection against unfair dismissal

The Employment Bill introduces strengthened protections that will likely extend to public sector employees, including NHS managers. Dismissals must be clearly justified with evidence showing not only that an individual has failed to meet specific performance metrics but that the criteria and processes leading to these conclusions are fair and reasonable.

League tables, while offering a snapshot of performance, may not always reflect an individual manager’s contributions or challenges. Employers will need to be cautious when using these tables as the basis for disciplinary action.

Transparency and accountability in dismissal procedures

The Bill mandates greater transparency in disciplinary and dismissal procedures. For NHS employers, this means ensuring that performance reviews, evidence of “turnaround efforts,” and evaluations are well-documented, objective, and supportable.

External oversight may be required in contentious cases, particularly when senior managers contest the validity of assessments based on league table standings. Transparency will be critical in demonstrating fair treatment.

Linking pay to performance: Challenges and considerations

NHS chief executives’ compensation will be tied directly to performance metrics. Coupled with the Employment Bill’s stance on fair and equitable treatment, NHS employers will need clear, justifiable benchmarks for performance-linked pay adjustments.

Discrepancies in the application of these measures may result in claims of unfair treatment or discrimination, potentially triggering grievances or legal disputes.

Turnaround teams and managerial autonomy

The introduction of turnaround teams adds another layer of complexity to NHS management structures. The Employment Bill’s emphasis on workers’ rights, autonomy, and protection from abrupt changes in duties means that managers may need additional support and clear guidelines if external teams are to oversee or redirect their initiatives.

Employers should balance intervention with respect for managers’ professional discretion to avoid claims of constructive dismissal or breach of employment terms.

The role of evidence in dismissal decisions

The Employment Bill strengthens the requirement for a comprehensive, fair approach in all dismissal decisions. With potential accusations of discrimination or victimisation—particularly if performance frameworks are unevenly applied—NHS employers must ensure that any decision to terminate a manager’s contract is robustly substantiated.

In cases where managers are deemed “rotten apples,” NHS leadership will need to demonstrate that such labels are backed by data and consistent with due process.

Striking the right balance: Leadership and legal compliance

As the NHS faces increasing scrutiny, balancing the need for high-quality leadership with the requirements of employment law will be crucial. Managers must be given the right support, clarity of expectations, and fair recourse, especially in a system that inherently poses complex challenges.

This reform offers an opportunity to foster genuine improvement in healthcare delivery, but only if handled with transparency, fairness, and respect for legal protections.

Looking ahead: Preparing for change in the NHS

As the implementation of these reforms approaches, NHS employers and legal advisers must stay vigilant. The Employment Bill underscores the importance of fair, transparent practices that respect both accountability and the legal rights of employees. Ensuring consistent application of these practices will be key to improving accountability and driving high performance without compromising procedural fairness.

If handled effectively, these changes may provide an opportunity for NHS leaders to enhance managerial accountability and ultimately improve healthcare outcomes across the system.

Tees Financial Ltd Wealth Specialist wins Later Life Adviser of the Year

Posted on 20 November 202429 March 2025 by Sarah O'Sullivan

A Wealth Specialist at Tees Financial Ltd has won a prestigious Women’s Recognition Award hosted by The Financial Reporter.

Toni Chalmers-Smith has worked in the financial services industry for over 30 years and specialises in advising clients requiring later years’ advice, including later life lending, equity release and care fees planning. She was delighted to recently accept The Later Life Adviser of the Year Award.

Launched in 2018, the awards aim to support the growing momentum for a more diverse and equal financial services community.

Toni understands that organising immediate or potential care funding for yourself or a loved one can be a complicated financial, legal, and emotional process. As an accredited member of the Society of Later Life Advisers (SOLLA), Toni can provide advice on care costs and is an expert in navigating the complex funding assessment process.

As a member of The Equity Release Council, Toni is committed to providing the very best independent advice to see if equity release is the right choice for you and, if so, to select the right product from the many available on the market.

Tees listen to what you want to achieve and clearly explain all the options available to you, minimising costs and helping you understand your choices and future financial implications.

On winning the award, Toni Chalmers-Smith said: “We believe financial and legal advice should take you to the stage where you can make clear and informed decisions, happy in the knowledge that you have received all the information and options needed to reach those very decisions.

I honestly believe at Tees, we don’t just give advice for now, but so you can truly have a better future in your retirement and later years.

I had a great night at the awards ceremony, and I’m pleased to have been recognised with this award, but I am even prouder to be part of Tees.”

Toni works closely with all colleagues across the Wealth team and law firm, providing specialist care fees planning and equity release advice to clients.

The Women’s Recognition Awards took place on Tuesday 22 October 2024, in London.

If you’d like advice, contact Toni Chalmers-Smith any time.

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

Health and Safety in the workplace

Posted on 13 November 202420 March 2025 by Sarah O'Sullivan

Whilst it is never a pleasant thing to think about accidents at work, they do occur. In order to avoid enforcement action corporate entities, directors and individuals need to ensure they comply with all relevant health and safety legislation or run the risk of large penalties and sanctions, convictions and reputational harm.

As a result, regulatory compliance is forming a critical part of everyday life. Let’s look at the statistics.

Latest figures from the Health and Safety Executive for 2022/2023 show:

875,000 workers suffering work-related stress, depression or anxiety
473,000 workers suffering from a work-related musculoskeletal disorder
2,257 mesothelioma deaths due to past asbestos exposures
138 workers killed in work-related accidents
561,000 workers sustained a non-fatal injury
60,645 injuries to employees reported under RIDDOR
35.2 million working days lost due to work-related illness and workplace injury
£20.7 billion estimated cost of injuries and ill health from current working conditions

What are employers required to undertake?

Health and Safety law states that employers must:

assess the risk to employees, customers and partners. They are also required to assess the risk to any other people who could be affected by their activities;
arrange for the effective planning, organisation, control, monitoring and review of preventive and protective measures;
have a written health and safety policy if they employ five or more people;
ensure they have access to competent health and safety advice;
consult employees about their risks at work and current preventive and protective measures.

What to consider if a workplace accident takes place?

Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 [RIDDOR] places a duty upon employers, the self-employed and people in control of work premises, also known as the responsible person, to report certain serious workplace accidents, occupational diseases and specified dangerous occurrences.

A RIDDOR report is required when the incident is work related or if it results in an injury of a type which is considered to be “reportable”.

The purpose of reporting is to warn the relevant authorities that an incident has occurred so that the Health and Safety Executive may review the circumstance, prevent a similar incident occurring again and to ensure compliance with the regulations.

Work related injuries will vary from sector to sector but common areas where work related injuries occur are falls from height, being struck by a moving vehicle and slips, trips and falls.

What injuries are considered to be reportable?

Deaths

Regulation 6 of RIDDOR states all deaths of both workers and non-workers arising from a work-related incident must be reported. It is important to note that deaths are also deemed reportable if the injured person died within one year following the work related incident.

Non fatal Injuries

Regulation 4 of RIDDOR deals with non-fatal injuries that must be reported by the Responsible Person these are:
fractures, other than fingers, thumbs, and toes
amputation
any injury likely to lead to permanent loss of sight or reduction in sight
any crush injury to the head or torso causing damage to the brain or internal organs
serious burns (including scalding) which covers more than 10% of the body and/ or causes significant damage to the eyes, respiratory system, or other vital organs
any scalping which requires hospital treatment
any loss of consciousness caused by head injury or asphyxia
any other injury arising from working in an enclosed space which leads to hypothermia or heat induced illness and/ or requires resuscitation or admittance to hospital for more than 24 hours

Diseases which have been caused or made worse as a result of work must be reported. This included diagnosis of:

carpal tunnel syndrome;
severe cramp of the hand or forearm;
occupational dermatitis;
hand-arm vibration syndrome;
occupational asthma;
tendonitis or tenosynovitis of the hand or forearm;
any occupational cancer;
any disease attributed to an occupational exposure to a biological agent

What records need to be kept?

Regulation 12 of RIDDOR requires the responsible person to keep a record of any reportable injury, which includes any injury which results in the injured person being unable to carry out their normal work for more than 3 days.

The record must be kept for 3 years from the date in which it was made, this may be kept in the form of an accident book. The accident book must include the following information:

Date and time of accident/ diagnosis of disease;
the person’s full name;
injury / diagnosed disease;
their occupation;
where not at work their status;
The location of the accident;
A brief description of the circumstances/ nature of the disease;
The date the incident was first notified to the authorities;
The method used to report the incident;

Why is it important to review the accident book?

The Accident Book is an essential document for employers and employees, who are required by law to record and report details of specified work-related injuries and incidents.

There are a few reasons why an accident book is a workplace essential. The information in the book can help to identify risks and accident trends, which can help to prevent accidents in the future. The accident book can also help in cases where the injured person decides to pursue compensation, or when the company is being investigated for potentially breaching health and safety regulations.

It enables businesses to comply with legal requirements under health and safety legislation, including Reporting of Injuries, Diseases and Dangerous Occurrences Regulations (RIDDOR) requirements.

When and how to report?

The responsible person must notify the relevant authority of the reportable incident by the quickest means and without delay. The Regulations require the responsible person to send a report of the incident within 10 days.

If a worker is incapacitated for more than seven consecutive days, the accident must be reported. For incapacitation over three days, the accident must be recorded but not necessarily reported.

When submitting a RIDDOR you will be able to download a copy of the submission to keep for your records, it is advisable to do so.

As with all health and safety issues in the workplace, employers, the self-employed and the Responsible Person should ensure they are fully up to date with the reporting requirements for RIDDOR. They should also make sure that the accident book is kept up to date. Accurate records are essential to protect employers, employees and, where appropriate, members of the public.

Accidents to members of the public or others who are not at work must be reported if they result in an injury and the person is taken directly from the scene of the accident to hospital for treatment to that injury. Examinations and diagnostic tests do not constitute ‘treatment’ in such circumstances. There is also no need to report incidents where people are taken to hospital purely as a precaution when no injury is apparent.

Where to report a workplace incident?

Any workplace incident can be reported online via the Health and Safety Executive website or via telephone. Please visit the Health and Safety Executive website for the relevant contact details.

Failing to report a reportable incident is a criminal offence. Not knowing the proper procedure for RIDDOR is not a defence, therefore it is critical that you understand and comply with the regulations to prevent investigation and prosecution by the Health and Safety Executive.

CIL liability and pre-commencement conditions: What developers need to know

Posted on 8 November 202418 March 2025 by Sarah O'Sullivan

Development in breach of pre-commencement conditions cannot attract CIL.

There have been a series of Community Infrastructure Levy (CIL) appeal decisions which suggest that CIL can be levied on development carried out in breach of pre-commencement conditions and therefore without planning permission (appeal references 3346994, 3330866, 3319897, 12001570). Such an approach is clearly unlawful and open to challenge.

Why does this matter?

From a developer’s perspective, this can deprive them of the chance to secure CIL reliefs thereby significantly increasing the cost of development. From a charging authority’s perspective, when a court eventually quashes such a CIL charge, they will need to repay any CIL collected in these circumstances and may also face claims from developers seeking damages for the lost opportunity to secure CIL reliefs.

Legal Context

CIL is a tax charged on new development in accordance with the Community Infrastructure Levy Regulations 2010 (the Regulations). The Regulations are what is known as ‘secondary legislation’ and, in this case, authorised by Part 11 of the Planning Act 2008 (the PA2008).

Before briefly summarising the relevant provisions of the PA2008 and the Regulations, it is important to note three fundamental and legal principles:

Firstly, secondary legislation (such as the Regulations) cannot have an effect outside the scope of its parent act (R (Public Law Project) v Lord Chancellor [2016] UKSC 39).
Secondly, there can be no taxation without the clear authority of parliament. That authority must either be express (i.e. expressly set out in an Act of Parliament) or necessarily implicit in such an act. However, a power to tax can only be implied in very rare circumstances. As the court noted in the case of Attorney General v Wilts United Dairies Ltd (1922) 38 T.L.R. 781: “the circumstances would be remarkable indeed which would induce the Court to believe that the Legislature had sacrificed all the well-known checks and precautions, and, not in express words, but merely by implication, had entrusted a Minister of the Crown with undefined and unlimited powers of imposing charges upon the subject for purposes connected with his department”.
Thirdly, development carried out in breach of pre-commencement conditions “is not development to which the permission relate[s]” (R v Elmbridge Borough Council, ex parte Health Care Corporation Ltd [1991] 3 PLR 63) and cannot lawfully commenced an authorised development (F. G. Whitley & Sons v Secretary of State for Wales (1992) 64 P. & C.R. 296).

Turning then to the actual statutory provisions for CIL. The PA2008 (as the parent act) is very specific about the scope of CIL and the content of the Regulations (emphasis added):

CIL is a charge designed to “ensure that costs incurred in supporting the development of an area can be funded … by owners or developers of land” (s. 205)
The Regulations must provide that liability to pay CIL is triggered “when development is commenced in reliance on planning permission” (ss. 208 (3) & (4))
The Regulations may provide for liability to pay CIL where development commences without planning permission (s. 208(7)). NB: this is a power to make appropriate provisions in the Regulations. Unlike ss. 208 (3) & (4) it is not a duty to do so.

The above are correctly carried forward to the Regulations (emphasis added):

CIL is levied on ‘chargeable development’ (Regulations, Schedule 1). Chargeable Development is defined at Regulation 9 as “the development for which planning permission is granted”.
The duty to pay CIL “in respect of a chargeable development” is triggered on either the intended date of commencement (where a Commencement Notice has been served) (Reg 70), or (where development has commenced without a Commencement Notice being served) on the deemed commencement date (Reg 71).

Notably and despite the power available at s. 208(7) of the PA2008, there is no express provisions within the Regulations for CIL to be charged against development commenced without a planning permission. The parliamentary draftsman will have been well aware of the power at s. 208(7), hence a court will assume that in approving the Regulations, Parliament did not intend the Regulations to apply to development without planning permission.

The effect of the above is that the correct interpretation of the law is:

CIL attaches to development with planning permission (Regulation 9 definition of ‘chargeable development which correctly gives effect to PA2008, ss. 208(3) & (4))
Liability to pay CIL is triggered when development with planning permission is ‘commenced’ (Regulations 70 & 71 correctly giving effect to PA2008 ss 208(3) & (4)).
CIL does not attach to development without planning permission (there is no express provision within the Regulations, and there is no reason to imply such an effect into the Regulations).
Development in breach of pre-commencement conditions does not benefit from planning permission. Therefore, it cannot attract CIL.

The upshot of the above, is that any attempt to levy CIL for development in breach of pre-commencement conditions is unlawful. Where CIL has been collected in these circumstances, and unless further development in accordance with the permission has taken place triggering CIL, the charging authority may need to pay it back (Regulation 75). In addition, if as a result of the charging authority’s unlawful approach to CIL, the developer was unable to apply for CIL reliefs, the charging authority may be liable in damages.

If you have any questions about CIL liability, our planning law specialists would be delighted to help you.

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.

Economy set for short term Budget boost

Posted on 4 November 202428 March 2025 by Sophie Soraf

Economic review October 2024

New economic projections produced by the Office for Budget Responsibility (OBR) suggest the Labour administration’s first Budget will provide only a ‘temporary boost’ to UK economic output.

Chancellor Rachel Reeves revealed the independent fiscal watchdog’s latest forecast during her Autumn Budget delivered to the House of Commons on 30 October. The updated figures predict the economy will expand by 1.1% this year and 2.0% in 2025, slightly higher than the OBR’s March forecast, with growth then falling back across the remainder of this Parliament. The OBR concludes that the Budget’s overall impact will leave ‘the level of output broadly unchanged at the forecast horizon.’

Before the Budget, the latest monthly gross domestic product (GDP) data released revealed that the UK economy returned to growth after two consecutive months of stagnation. The Office for National Statistics (ONS) figures showed the economy expanded by 0.2% in August, with all major sectors posting some growth. Despite August’s pick up, ONS warned that the broader picture in recent months was one of ‘slowing growth’ compared to the year’s first half.

This loss of momentum was also highlighted in the latest S&P Global/CIPS UK Purchasing Managers’ Index (PMI), with its preliminary headline growth indicator falling to 51.7 in October from 52.6 the previous month. While remaining above the 50 threshold that denotes expansion in private sector output, this latest reading was the lowest since last November.

Commenting on the survey, S&P Global Market Intelligence’s Chief Business Economist Chris Williamson said, “Business activity growth has slumped to its lowest for nearly a year in October as gloomy government rhetoric and uncertainty ahead of the Budget dampened business confidence and spending. The early PMI data are indicative of the economy growing at a meagre 0.1% quarterly rate in October.”

UK inflation falls sharply

Official consumer price statistics released last month revealed a larger-than-expected fall in inflation, potentially paving the way for further interest rate cuts in the coming months.

ONS data showed the annual headline rate of inflation dropped from 2.2% in August to 1.7% in September. The fall, which took the rate to its lowest level since April 2021, was primarily driven by lower airfares and petrol prices.

The decline was more significant than economists had anticipated, with the consensus forecast in a Reuters poll predicting a September reading of 1.9%. It also took the figure decisively below the Bank of England’s (BoE) 2% target, and further fuelled market expectations for more interest rate cuts this year.

Last month, however, two of the BoE’s nine-member rate-setting Monetary Policy Committee (MPC) advocated the continuation of a cautious approach to monetary easing. Megan Greene, for instance, suggested volatile components had driven September’s sharp inflation fall and again stated her preference for rate cuts to be gradual, while Catherine Mann said the cooling of price growth still had “a long way to go” for the Bank to hit its 2% target over the medium term.

In early October, though, BoE Governor Andrew Bailey (another MPC member) told the Guardian that, provided there was further welcome news on the inflation front, he felt the Bank could become “a bit more aggressive” in its rate-cutting approach. In a recent Reuters survey, 72 economists said they believe a quarter-point rate reduction would be announced after this month’s MPC meeting on 7 November.

Market expectations for the speed of monetary easing over the coming 12 months, however, eased back after the Budget, as the Chancellor’s big spending plans raised fears of a pick-up in inflationary pressures next year.

Markets (Data compiled by TOMD)

UK indices moved lower on the last day of October as markets continued to digest the Budget announcement, during which Chancellor Rachel Reeves unveiled £40bn of tax rises. On 31 October, the Institute for Fiscal Studies (IFS) warned about the likelihood of further tax rises following the Budget.

The FTSE 100 index closed October on 8,110.10, a loss of 1.54%, while the mid cap focused FTSE 250 closed the month 3.16% lower on 20,388.96. The FTSE AIM closed on 737.10, a loss of 0.45% in the month. The Euro Stoxx 50 closed the month on 4,827.63, down 3.46%. At month end, the Bank of Japan retained interest rates at their ultra-low level as it monitors global economic developments and potential risks to domestic recovery. The Nikkei 225 closed October on 39,081.25, a monthly gain of 3.06%.

With voters poised to take to polling stations stateside, robust economic data at month end confused the backdrop for imminent Federal Reserve rate cuts, as US stocks and government bonds fell. The Dow Jones closed the month down 1.34% on 41,763.46. The tech-orientated NASDAQ closed the month down 0.52% on 18,095.15.

On the foreign exchanges, the euro closed the month at €1.18 against sterling. The US dollar closed at $1.28 against sterling and at $1.08 against the euro.

Gold closed October trading at $2,734.15 a troy ounce, a monthly gain of 3.96%. Towards the end of the month, the precious metal traded higher as demand surged ahead of Diwali and the US election; uncertainty over the election outcome has made investors focus on the safe haven asset. Brent crude closed the month trading at $72.62 a barrel, a gain over the month of 1.35%. Oil prices stabilised at month end after rallying due to robust fuel demand in the US and reports that OPEC+ may delay an increase in output.

Index	Value (31/10/24)	Movement since 30/09/24
FTSE 100	8,110.10	-1.54%
FTSE 250	20,388.96	-3.16%
FTSE AIM	737.10	-0.45%
Euro Stoxx 50	4,827.63	-3.46%
NASDAQ Composite	18,095.15	-0.52%
Dow Jones	41,763.46	-1.34%
Nikkei 225	39,081.25	+3.06%

Retail sales rise for third successive month

Recently published ONS statistics showed that retail sales rose for the third month in a row in September, although more up-to-date survey data does point to a recent slowdown as consumers paused spending ahead of the Budget.

The latest official retail sales figures revealed that total sales volumes rose by 0.3% in September, with ONS saying tech stores were the main driver of growth, reflecting a sales boost from the new iPhone launch. September’s growth defied economists’ expectations for a monthly 0.3% decline and, combined with July and August’s strong gains, resulted in sales volumes rising by 1.9% across the whole of the third quarter, the joint largest increase since mid-2021.

More recent survey evidence, however, does suggest consumers became more cautious in the run-up to the Budget. The latest GfK Consumer Confidence index, for instance, found that sentiment fell to a seven-month low in October as concerns over possible tax hikes hit confidence.

Data from last month’s CBI Distributive Trades Survey also points to a recent dip in consumer spending. The CBI noted that retail sales volumes ‘slipped back slightly in October,’ adding that some retailers had highlighted ‘increased consumer caution’ ahead of the Autumn Budget.

More signs of a cooling jobs market

The latest batch of labour market numbers revealed fresh evidence of a softening in the UK jobs market with both an easing in pay growth and a further fall in the overall level of vacancies.

Statistics released by ONS last month showed that average weekly earnings excluding bonuses rose at an annual rate of 4.9% in the three months to the end of August. This figure was down from 5.1% in the previous three-month period and represents the slowest rate of pay growth for over two years.

Adding to signs of a cooling jobs market, the release also revealed another decline in the level of vacancies. In total, ONS said there were 34,000 fewer job vacancies reported between July and September 2024 compared to the previous three-month period; this represents the 27th consecutive monthly fall in the number of vacancies.

Last month also saw a number of recruitment firms report a more recent slowdown. Robert Walters, for instance, noted a pause in jobs market activity in the run-up to the Autumn Budget, while James Reed, CEO of recruitment consultancy Reed, said the UK labour market was experiencing “a slow-motion car crash” with firms lacking the confidence to hire new staff.

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

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

Landlord rights: How to deal with difficult tenants

Posted on 4 November 202420 March 2025 by Sarah O'Sullivan

Dealing with problem tenants can feel like a nightmare for landlords. When problems occur during a tenancy, there are steps landlords can take to protect their rights. Here, our property dispute specialists give their top tips to avoid problems.

Preventing disputes with tenants

Of course, we’d all rather prevent disputes from happening in the first place. Dealing with difficult tenants can be very difficult for landlords – and for many, it’s unfamiliar and potentially risky territory. After all, navigating the complex rules relating to tenants’ rights and exactly what landlords can and cannot do can feel like a minefield.

Here are some steps you can take to avoid problems with your tenants:

Run a background check on your tenant(s)

Make sure you run appropriate background checks on your tenants before they move in. This includes checking the ‘Right to Rent’ status of all adults living in the property, obtaining a reference from their previous landlord or agency and a credit check. This is often the first step in the process, and one of the most important – any red flags at this stage should help you avoid potentially problematic tenants altogether.

Maintain an up to date inventory

Draw up a thorough inventory of the property, and its contents. If you are letting the property furnished, ensure that all furnishings and appliances are accounted for and checked prior to check in. An up to date, comprehensive inventory is invaluable if your tenants cause damage to the property.

It’s important to take out the right type of insurance when renting out your property. Insurance designed for owner-occupied properties isn’t suitable for rental properties. Landlord Insurance is specifically designed for the needs of landlords. It covers damage to the property itself, as well as any content supplied by the landlord (such as furnishings or appliances). Additionally, it offers insurance against other risks such as the loss of rental income if your tenants are unable to pay.

Check your tenancy agreement

Before the tenancy commences, have the tenancy agreement checked by a solicitor who specialises in property law. The solicitor will help you ensure your rights as a landlord are fully protected, and that you’re in the best possible position if any problems were to come up during the tenancy.

Your tenancy agreement forms the foundation of your relationship with your tenants. You may need to rely on the tenancy agreement later, particularly if there are any problems. Taking the time to ensure it’s legally sound and compliant can help you avoid a lot of trouble, and expense, in the long run.

The Tenancy Deposit Protection scheme

Under Tenancy Deposit Protection legislation, landlords and agents are required to protect deposits in one of three government-approved schemes. If your tenants honour the terms of the tenancy agreement, then the deposit is returned to them in full at the end of their tenancy. If they don’t, then the landlord is entitled to make deductions from the deposit to cover things like breakages or damage. Carrying out regular inspections of your property, giving your tenants reasonable notice (at least 24 hours) in writing, can help ensure any problems are identified at an early stage.

Problems during and after a tenancy

Sometimes, problems with tenants arise – even if you’ve done everything you can to protect against it. Common problems with tenants include:

Damage to your property and/or furnishings
Noise complaints and problems with neighbours
Rent arrears
Refusal to vacate the property once the tenancy has ended

If your tenants are causing damage or being a nuisance, start by communicating clearly, politely and firmly with them, explaining why their behaviour isn’t acceptable. If your tenancy agreement contains clauses regarding unacceptable behaviour, remind them of their responsibilities. It’s worth pointing out to them as professionally and calmly as possible that if the problems can’t be adequately dealt with and you are forced to seek possession of the property through the courts, you will not be able to provide them with a satisfactory reference and this will severely restrict their ability to take a tenancy with a different landlord.

If the tenants are in arrears with their rent, then start by issuing a polite reminder that the money is due. Keeping in touch with them and documenting all the steps you take to recover the rent is extremely important if you find yourself needing to take legal proceedings against them at any point.

Evicting a tenant

If all other steps have failed, then you may need to consider evicting a tenant.

It is very important to do this is in the right way, and follow the correct procedures and guidance. Failing to do so could cause delays, and incur extra expense or loss of income. In particular, following the correct procedures helps protect landlords from being accused of harassing or illegally evicting tenants. At Tees, we offer advice and guidance to protect your position and ensure the eviction process proceeds smoothly.

If your tenant is renting under an assured shorthold tenancy agreement and hasn’t paid the rent for more than 8 weeks, has damaged the property, or is causing a nuisance to neighbours, or breaching any other terms of their rental agreement, we can explain how to use a Section 8 notice to regain possession of your property. You will need to give them between 2 weeks’ and 2 months’ notice to leave, depending on which terms they have broken. If they don’t leave by the specified date, we can help you apply to the court for a possession order.

Alternatively, we can explain how to use a Section 21 notice, which is often referred to as the ‘no fault’ route, as here the landlord doesn’t need to prove that the tenant has done anything wrong. This gives the tenant at least 2 months to leave. When using this form of eviction, it’s vitally important to ensure that you comply with all the requirements, as failure to do so will render the notice invalid, and you would have to wait for a new notice period to expire before issuing a fresh Section 21 notice.

Your property dispute specialists

Darren Perks, Partner at Tees, is a specialist in property disputes and regularly deals with complex cases for a wide variety of clients. Darren’s work includes disputes relating to commercial, agricultural and residential leases, adverse possession, easements and covenants, boundaries, overage, transactions, construction and statutory compensation.
Darren has successfully resolved many claims for landlords involving both residential and commercial properties, and with more than 10 years’ experience in this area of the law has the practical experience to help you find a solution. To contact Darren directly, please telephone 01279 710619 or email darren.perks@teeslaw.com.

There are four types of protection policies we will talk about:

The Importance of Protection:

Life insurance:

Income Protection:

Family Income Benefit:

Critical Illness Cover:

Protect yourself – it’s the most valuable thing you can do!

Tees is pleased to announce the arrival of a new Legal Director in the Residential Property team.

The new duty

What are reasonable steps?

“Reasonable steps” or “all reasonable steps”

Anti-harassment policies

Communication with workers

Risk assessments

Reporting systems

Training

Addressing a sexual harassment complaint

Sexual harassment by third parties

Evaluate and evolve

Useful resources

Interest rates set to fall more gradually

UK economy losing momentum

Markets (Data compiled by TOMD)

Index

Value

Movement since 31/10/24

Unemployment rate rises

Retail sales fall by more than expected

The Paper details several proposed actions and changes:

Next steps

Resources

There was some uncertainty within the housing market ahead of the Autumn Budget at the end of October, which was reflected in muted consumer activity.

Hope for the rental market?

Increase in chain-free homes for sales

A new era of NHS accountability

The legal landscape: Understanding the employment bill

Enhanced protection against unfair dismissal

Transparency and accountability in dismissal procedures

Linking pay to performance: Challenges and considerations

Turnaround teams and managerial autonomy

The role of evidence in dismissal decisions

Striking the right balance: Leadership and legal compliance

Looking ahead: Preparing for change in the NHS

A Wealth Specialist at Tees Financial Ltd has won a prestigious Women’s Recognition Award hosted by The Financial Reporter.

What are employers required to undertake?

What to consider if a workplace accident takes place?

What injuries are considered to be reportable?

Deaths

Non fatal Injuries

What records need to be kept?

Why is it important to review the accident book?

When and how to report?

Where to report a workplace incident?

Development in breach of pre-commencement conditions cannot attract CIL.

Tees are here to help

Economic review October 2024

UK inflation falls sharply

Markets (Data compiled by TOMD)

Index

Value (31/10/24)

Movement since 30/09/24

Retail sales rise for third successive month

More signs of a cooling jobs market

Dealing with problem tenants can feel like a nightmare for landlords. When problems occur during a tenancy, there are steps landlords can take to protect their rights. Here, our property dispute specialists give their top tips to avoid problems.

Preventing disputes with tenants

Run a background check on your tenant(s)

Maintain an up to date inventory

Check your tenancy agreement

The Tenancy Deposit Protection scheme

Problems during and after a tenancy

Evicting a tenant

Your property dispute specialists