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We respect your privacy and want news to be relevant. To either, click here or update your preferences by emailing us at info@ts-p.co.uk. Your personal data shall be treated in accordance with our & .

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  • Overview

    The impact of the coronavirus on people, businesses and supply chains is unfolding on a daily basis. The final effect of COVID-19 remains to be seen, but there is already significant disruption to many businesses, with all sectors being affected. Some harder than others.

    Every aspect of business from commercial contracts and employment to finance and data protection is affected. With the situation changing on an almost hourly basis, and a myriad of information to wade through, it is understandable that many organisations feel overwhelmed. 

    However, businesses can take heart in the fact that the Government has announced unprecedented support for organisations to help them weather the storm. 

    When faced with such a complex and rapidly developing situation, there is no one solution, and we urge businesses to take a holistic view, as well as arm themselves with a thorough understanding of the help available to them. 

    This includes: 

    • The Coronavirus Business Interruption Loan Scheme (CBILS)
    • COVID-19 Corporate Financing Facility (CCFF)
    • Coronavirus Job Retention Scheme (CJRS) relating to ‘furloughed workers’ 
    • Retail and hospitality grant scheme
    • Business rates holidays
    • Deferment of VAT payment


    It would also be wise for businesses to ensure they familiarise themselves with how the situation may impact areas such as: 

    • Commercial contracts, especially in terms of force majeure and frustration clauses
    • Data protection, especially in terms of new guidance from the ICO
    • Changes at Companies House
    • Changes to planning laws
    • Evictions of residential or commercial tenants


    Undertaking an internal review of for example, commercial contracts and supply chains, to see if it is possible to stream-line anything, even on a temporary basis, could immediately save some costs and help cash flow over the next few weeks and months. 

    If as a business you find yourself in financial difficulty, or unable to meet any contractual obligations, then having open channels of communication with all relevant parties is key. There is help and support available and lenders are also putting in place measures to support organisations.

    With so much advice being issued and often conflicting sources of information, it is more important than ever to have access to trusted, practical advice. Like many professional service advisors, we have put together a resource of information for businesses https://www.ts-p.co.uk/for-business/corporate/covid-19-understanding-what-coronavirus-means-for-your-business. We are keeping this updated on a regular basis. 

    This article first appeared in South East Business. 

  • Related Services

    Commercial contracts

    We can deal with all the stages of a commercial contract – from initial structuring and head of terms to preparing, negotiating and completing the contract documentation. We can also advise you on contractual disputes that may arise during a project and provide assistance with terminating a business relationship.

    Data protection, GDPR and privacy

    Data protection and privacy law is a complex and fast-changing area with international differences adding an extra layer of complexity. 

    Banking and finance

    Our banking and finance lawyers can assist in your business securing funding for expansion or development.

    Employment policies

    We have a wealth of experience in drafting employment policies and procedures.

Newsletter Sign Up

I would like to receive newsletters, event invitations and publications from Thomson Snell & Passmore by email on the following topics (tick all those that apply) and consent for my data to be processed for this purpose.

We respect your privacy and want news to be relevant. To either, click here or update your preferences by emailing us at info@ts-p.co.uk. Your personal data shall be treated in accordance with our & .

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By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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