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If you’re looking to develop and expand your business, you might be considering entering into a joint venture (JV).

JVs can be an effective way to maximise opportunity, minimise risk, and explore new markets.

However, without the right legal structures in place, JVs can quickly become a source of disputes, regulatory issues, and financial losses.

Therefore, it is essential to understand the advantages and disadvantages of entering into a JV before you make any decisions.

What are the advantages of joint ventures?

JVs provide a range of advantages to businesses.

• Shared resources and financial risk: By pooling resources and sharing risk, you can protect your interests and boost your chances of business success.
• Flexibility: A JV can manifest itself in several ways, including as a contractual agreement, a limited liability company, or a partnership. A limited company structure provides a clear well trodden governance structure and protects parties from personal liability, while a Limited Liability Partnership (LLP) can allow for tax efficiencies and maintains some liability protections.
• Tax optimisation: JVs can provide tax efficiencies, particularly in relation to Capital Gains Tax (CGT) and, in cases involving commercial property, Stamp Duty Land Tax (SDLT).

With a JV, you can combine each partner’s unique strengths and share expert knowledge to give your business the best chance of success.

What are the disadvantages of joint ventures?

Although JVs offer many advantages, they are by no means an easy route to business success.

JVs may fail due to clashing priorities, strategies, and corporate cultures.

Some of the issues involved in JVs arise around:

• Control and decision-making difficulties: Without clear governance structures, disputes can arise over everything from profit distribution to day-to-day property management.
• Exit strategies: If one party wishes to leave the JV, how will this be handled? Without a clear legal mechanism in place, disputes can lead to costly litigation.
• Regulatory compliance: If the JV results in market dominance that could be seen as anti-competitive, you risk breaching the Competition Act 1998.
• Tax liabilities: If commercial property is transferred between JV partners, SDLT and CGT may apply.

Without legal agreements and compliance with UK law, JVs can quickly become problematic.

Questions to ask before entering into a joint venture

Open communication and careful planning from the get-go will give your JV the best chance of success.

Before you decide whether or not to enter into a JV, you need to ask yourself – and your proposed partner – some questions.

Gaining clarity on your goals and intentions will help you make decisions in your best interests and ensure your JV has the best chance of success.

• Is your proposed JV partner suitable? You will need to conduct thorough due diligence to ensure that potential partners possess complementary skills, resources, and a similar corporate culture. Additionally, you should consider seeking a partner whose strengths fill gaps in your organisation.
• What’s your vision for the JV, and does your partner share it? All parties involved should make sure they have a shared vision for the partnership by defining clear, mutual objectives.
• How do you intend to work together? Not all JV partners work together in the same way. Some will share resources, while others keep them separate. Maybe you want to have a weekly catch-up with your partner over coffee, or perhaps you would prefer formal meetings once a month. Figuring out these arrangements early on will help to iron out any sticking points.
• How will you foster an environment of open communication? Open and honest communication is essential if JVs are to succeed. You should consider how you will create an environment where JV partners feel comfortable discussing concerns, sharing feedback, and resolving conflicts without receiving backlash.

A well-drafted Shareholders’ Agreement or Joint Venture Agreement will help outline voting rights, exit strategies, and profit allocation, as well as clearly define roles, responsibilities, and dispute resolution strategies.

This way, you can prevent common misunderstandings and significantly reduce the risk of disputes that could jeopardise the success of the JV.

To mitigate potential legal issues, our experts are able to draft and review your JV arrangements early on in the process.

At Palmers Solicitors, we have the knowledge and experience to protect your interests in the partnership and identify any unforeseen liabilities and legal issues.

How Palmers Solicitors can help with your joint venture

Entering a JV can be an exciting step forward for your business, but it must be handled with care to ensure that your goals aren’t derailed by disputes and legal issues.

At Palmers, our Corporate and Commercial law team have a wealth of experience in all business legal matters.

We can advise on structuring the JV and drafting the Shareholders’ or Joint Venture Agreement.

For tailored advice on entering into a joint venture, get in touch with our Corporate and Commercial Department today.

Protections offered by whistleblowing are an essential part of UK employment rights and yet the act itself still retains a stigma that prevents many people from exercising their right.

A new report from Protect, on Attitudes to Whistleblowing, has found a notable difference between generations on the willingness to report concerns.

It has been found that younger generations are less willing to do so and a notable difference between generations in which types of wrongdoing would trigger reporting.

Interestingly, the youngest workers (aged 18-24) were most willing to report sexual harassment.

Whilst 67 per cent of those aged 18-24 said they would be likely to raise a concern if they witnessed sexual harassment in the workplace, only 56 per cent said they would be likely to raise a concern if someone’s health and safety was being put in danger.

In contrast, those in the 55+ age group said they would be more likely to report someone’s health or safety being put in danger (86 per cent) rather than sexual harassment (78 per cent).

Sexual harassment has been highlighted in recent years through the Me Too movement, which may well have impacted the level of people willing to report concerns.

When asked what would prevent them from raising whistleblowing concerns at work, job security and fear of reprisals were dominant for most people, however the older age groups were less concerned about damage to their career than those under 44.

Concerns about damage to mental health were highest within the 35-44 age group.

It is perhaps unsurprising that older age groups were less concerned about damage to their career, as they may have been in their role for a longer period of time and may feel more secure.

Employers have a duty to ensure that employees are not subjected to a detriment and not dismissed on the basis of a protected disclosure.

Whistleblowers are only protected if the concern they raise is a genuine protected disclosure, and the ambiguity around this can put some people off raising concerns.

Evidence shows that it can also be difficult to pursue a whistleblowing claim. In an International Bar Association review in 2021, cases from 2018 were analysed.

It was found that 224 case decisions were rendered in England, Wales and Scotland and only 31 alleged whistleblowers won their case.

Ten of the alleged whistleblowers even had costs orders made against them, which are unusual in Employment Tribunals.

Employers do need to be aware that departing employees can sometimes raise concerns as a parting shot. Even so, these concerns should still be properly investigated.

The Employment Rights Bill extends the definition of a protected disclosure in relation to sexual harassment. The overall increase in the time limit for bringing certain claims may well assist whistleblowers.

Employers often wish to encourage employees to report concerns as they may be unaware of a particular issue and whistleblowing can sometimes uncover serious wrongdoing e.g. fraud.

Employers should offer information and training to employees on their whistleblowing policies and the protection offered to ensure that employees feel confident to raise concerns.

It is also important that employers follow their policies when concerns are raised as this helps employees to feel that it is worth raising a concern.

Employees often feel more comfortable raising concerns with their line manager more informally or another manager that they have regular contact with, rather than reporting to someone they do not know as well, which can feel like a more formal process.

Many employees would not necessarily consider this informal raising of concerns to be whistleblowing, although it may well be under the definition in the legislation.

Employers or employees who have questions about whistleblowing, particularly what counts as a protected disclosure, should seek legal advice at the earliest opportunity.

For further information and advice on whistleblowing, contact our Employment Law team today.

While no one wants to think about what would happen if they lost capacity to make decisions for themselves, the reality is that many people find themselves in that situation every day.

Whether it’s through progressive conditions such as dementia or accidents that result in comas, there are many situations where someone will need a trusted person to make important decisions on their behalf.

This is where Lasting Powers of Attorney (LPAs) come in.

Lasting Powers of Attorney

A Lasting Power of Attorney (LPA) enables you to nominate someone you trust to make important financial and welfare decisions on your behalf if you lose your mental capacity.

There are two forms of LPAs available:

• Health and Welfare – These LPAs allow the attorney(s) to make medical and welfare decisions for you.
• Property and Financial Affairs – These LPAs enable the attorney(s) to make decisions relating to your assets and your finances.

The attorney(s) should be someone you trust as they must follow certain principles and act always in your best interests.

An LPA can be signed at any time while you have mental capacity; however, it can only be used by the attorney once it is registered with the Office of the Public Guardian.

We can advise on the creation and registration of both types of LPA.

Who needs an LPA?

While an LPA might seem like something that only older people need to give serious thought to, the reality is that anyone at any age could fall victim to an accident or illness that takes away their capacity to make decisions for themselves.

Anyone could be in a position where they need someone to make crucial medical decisions on their behalf.

Similarly, anyone with assets or dependents could be in the position where they need someone to make decisions for them.

Can’t my spouse, civil partner or next of kin make these decisions anyway?

While your closest relatives will be informed if you are in hospital, they cannot give consent to treatment or medical procedures on your behalf. They also cannot consent to withdrawing treatment.

Similarly, financial institutions will refuse to deal with anyone other than the account holder, joint account holder or an appointed attorney.

Additionally, some joint accounts can require both or all the account holders to sign for any changes, potentially locking a spouse or partner out of the household income.

Who can I appoint as an attorney?

Anyone over 18 who has capacity can be appointed as an attorney. You can also appoint professionals, such as lawyers or financial advisers, as attorneys.

You can have more than one attorney for each LPA and you don’t need to have the same attorney(s) for both.

You can also have reserve attorneys who can act if your nominated attorney(s) cannot act on your behalf.

What happens if I lose my capacity without an LPA in place?

If you lose mental capacity and you don’t have LPAs in place, your loved ones will have no say over medical decisions or access to your finances unless they are appointed as Deputies by the Court of Protection.

Applying to become Deputies is a very time-consuming and expensive process.

You would also have no say over the person making decisions on your behalf and they might not be someone you would choose or even trust to put in that position.

Preparing LPAs with Palmers Solicitors

At Palmers Solicitors, we can help you set up LPAs that meet your needs and provide vital protection to you and your family should you lose mental capacity.

As with a Will, you should review your LPA after any significant life event and every two years or so in any event.

Doing this will allow you to make sure that the people you have appointed as attorneys are still appropriate and in a position to act should they need to.

To find out more about setting up Lasting Powers of Attorney, contact our Wills and Probate solicitors today.

As the average life expectancy increases in the UK, more and more people need care later in life.

In these circumstances, either you or your family will need to consider the costs of paying for care either in your own home or in a nursing or residential care home.

The rules which determine how elderly care is funded are notoriously complicated.

Paying for care – costs and responsibilities

If a health and needs assessment confirms that you require care, but are not eligible for NHS continuing healthcare funding, then social services will carry out a financial assessment to determine whether you have the means to cover the costs yourself.

This assessment will consider your income (including interest on savings, and pension and benefit payments) and any capital you may have (including savings, investments and owned property).

If you have capital valued at:

• Less than £14,250 – You will not need to pay for your care from your own capital and savings, regardless of whether the care is in your own home or in a residential setting. You will only be expected to make income-based contributions.
• Between £14,250 and £23,250 – You will be eligible for financial support from your local authority, but you will still need to contribute to your care costs.
• More than £23,250 – You will be required to cover the full cost of your care.

If you receive care in your own home, only your savings capital will be taken into account.

The value of your property may be considered if you need to move to a care home.

If you find you have to pay your own care costs, we can advise you on the range of different funding options.

Deferred Payment Agreements

You may be able to enter into a “Deferred Payment Agreement” if you own residential property but are moving away to permanently live in a care home.

A Deferred Payment Agreement is a loan from a local authority set against your home, which will enable you to pay for your care. Interest will be applied to the loan, but you will not be required to sell your home immediately.

This loan also enables any outstanding costs to be paid to the authorities after an individual has passed away.

You must always seek independent, tailored legal advice before you enter into a Deferred Payment Agreement.

Deprivation of assets

Many people give away assets to try and qualify for Local Authority care funding.

However, if the authorities determine that you have deliberately deprived yourself of assets for this purpose, they will regard these assets as “notional capital” – meaning they will still be considered when determining the value of your capital overall.

The local authority may also seek to reclaim the deprived assets.

However, you should still seek professional advice on the legitimate and appropriate management of your financial and property affairs.

Are you entitled to NHS Continuing Care?

You may be eligible for “NHS Continuing Care” if you are transferred to a nursing home from a hospital or are living with a serious health condition.

This means the NHS will pay for all your needs, including the aspects of social care and the hotel costs of residential care, irrespective of your financial circumstances.

People are not always advised that they may be eligible for funding or that they are entitled to a fresh assessment in the light of deteriorating health.

If you think you or a loved one, may be eligible for NHS Continuing Care, we can advise you on the process and recovering any costs you may have paid when you should have been receiving NHS funding.

How can Palmers Solicitors help?

At Palmers Solicitors, we’re passionate and committed to ensuring that you have planned effectively for later in life.

Our Older Client Services team have a wealth of experience in advising clients on funding their care in old age.

Contact our expert solicitors today for tailored advice on funding your care.

If you’ve seen Legally Blonde, you’ll most likely remember the famous scene where Paulette retrieves her beloved pet dog from her abusive ex-husband with the help of Elle Woods’s fake legalese.

The inaccuracy of Elle’s legal speech aside, the scene is a poignant one about the emotional bond between pets and their owners – and the pain that can result from separation.

This raises questions about the real-life implications of pet ownership – and who is really entitled to get the dog after a divorce.

Pets under the law

Pets are classed as chattel – meaning personal property – under the law.

This means that when a couple divorces, decisions around the ownership of their pets are handled like the division of assets such as furniture.

It is usually left up to the couple themselves to decide who gets their pet in the event of a divorce or separation.

How this is achieved depends upon whether the couple can come to a straightforward decision, whether the couple is married or cohabiting as partners, and whether they purchased/adopted the pet together or not.

Pets are considered joint marital assets for married couples, so a decision may be reached between the couple or dispute resolution sessions, such as mediation.

If the pet is shared, then the couple may consider who has been historically responsible for the pet’s care, whose home would provide the better environment for the pet, and whether the couple has any children who are attached to the pet.

Should a dispute over pet ownership end up in court, the judge will consider factors such as who purchased or paid for the pet’s care, and whose name is on the pet-related records.

If one partner already owned the pet before entering the relationship – evidenced by vet registration, microchip information and purchase/adoption documents – it’s usually clear who legally owns the pet and who will be entitled to take it with them if the relationship ends.

If the other partner attempts to prevent this, this may become a legal matter, but only in the sense of property theft. The partner who owned the pet would need evidence that they are its legal owner to assert their rights under the law.

Disputes over pet ownership

As with all assets, pets can be the subject of highly strung disputes in divorce cases.

A high-profile example is the case of Ant McPartlin and his ex-wife Lisa Armstrong, whose dispute over the custody of their pet labrador (Harley) made media headlines.

The ex-couple eventually agreed on a shared ownership arrangement whereby Harley would split time with both individuals, in a manner not dissimilar to a Child Arrangement.

Although this agreement was reached outside of court, it suggests a path forward for ex-spouses who both want to maintain a connection with their pet.

Is legal reform on the horizon?

Although pets are legally considered property in family law disputes, many argue that this chattel-based approach to deciding pet ownership fails to acknowledge the sentience of pets, their emotional needs, and the deep attachments that often form between the pet and its owner.

Indeed, in a modern world where more and more people view their pets as family members rather than possessions, the current legal framework can seem inadequate to many.

There is growing momentum for legal reform over the status of pets in family law disputes.

For example, solicitor and animal welfare advocate Trevor Cooper has launched a petition that seeks to distinguish pets from other types of property in family law proceedings, as well as make it a legal requirement for courts to take the pet’s welfare into account.

Additionally, a pre-nuptial agreement that details what will happen to the pet if a couple separates may be used as evidence of intent and agreement by the court, although they are not legally binding.

An agreement detailing what will happen to your pet – known as a “pet-nup” whether you’re married or cohabiting – reduces the risk that the pet will become a source of conflict and resentment upon separation or divorce.

A pet-nup also allows couples to make decisions relating to their pet that aren’t an issue of legality and would not be decided on the rare occasion that formal legal proceedings took place, such as payment for food and veterinary care, who looks after the pet when the owner is on holiday, and end of life decisions.

If a pet-nup has been prepared well, the court is more likely to take it into consideration.

Protecting your pets in divorce proceedings

Putting a pet-nup in place when you acquire a pet with your partner means you are more likely to be able to argue for a situation that benefits the pet’s wellbeing and care in the event of a separation.

If you’re already embroiled in divorce proceedings and there is a dispute over pet ownership, establishing your legal right to the pet can prove difficult if you don’t have your name on the veterinary records or microchip.

At Palmers Solicitors, we can advise you on what rights you have to your pet and offer dispute resolution services, such as mediation, to help you and your partner reach a mutually acceptable agreement.

For further advice on pet arrangements after a divorce, get in touch with our expert Family Law team today.

The rules governing Inheritance Tax (IHT) are constantly subject to change.

Even the amendments set to be introduced in April 2026 could be subject to revision and further alterations in the near or far future.

Changes to IHT could affect your carefully laid estate plans, so it is essential to keep your Will under constant review to ensure your beneficiaries receive the maximum amount from your estate with minimal IHT liability.

Inheritance Tax: The ever-changing liability

The Autumn Budget 2024 introduced significant changes to Business Property Relief (BPR) under IHT, effective from April 2026.

Under these rules, 100 per cent tax relief on business assets will be capped at £1 million per individual, with relief 50 per cent thereafter – resulting in a higher rate of IHT upon your death.

Additionally, while many pension pots currently fall outside of IHT calculations, the Government plans to include pensions within the scope of IHT from April 2027.

This change, combined with the freeze on IHT thresholds until 2030, would mean that more estates will likely exceed the £325,000 IHT threshold.

However, these proposed rules are not set in stone, and professional services advisers across the UK anticipate further changes to IHT.

IHT is an ever-changing tax liability, so it is important to review your Will regularly with the help of an experienced solicitor.

This ensures your Will is aligned with the most up to date tax rules.

If you do not have a Will in place, it is essential to prepare one now and revisit it regularly to help you mitigate against tax liabilities.

Ways to reduce IHT

There are several ways in which you can prepare your Will and estate plan to minimise IHT liabilities. A solicitor can advise you on the options available and which avenues are best suited to your wishes.

A flexible Will, such as one that includes a trust, allows you to adapt your asset distribution based on future changes in tax laws, making it a potentially favourable option.

With a discretionary trust, your estate can allocate assets to beneficiaries at the trustee’s discretion, which means that decisions can be taken at the time of your passing, taking into account the tax rules at that time and the personal and financial circumstances of all beneficiaries. As such, trustees can consider how best, at that time, to mitigate IHT in the way they distribute the assets held in trust.

Additionally, you may want to review your lifetime gifting strategy. Making gifts can reduce the IHT burden on your estate.

However, gifts must be made seven years prior to your death to be exempt from IHT, so early planning is vital.

It is important to remember that when making gifts, there may be legal steps and documentation that needs to be put in place for it to take effect.

For example, a gift of property or land requires a formal transfer deed or declaration of trust to document the change of ownership.

Legally documenting each gift’s details including its date, value, and recipient is a safeguard against potential future legal disputes.

For example, you need to be clear about the terms of the gift to avoid the creation of an implied trust.

If the donor appears to retain some control over the gifted asset, it may not qualify as a gift for legal or tax purposes and could lead to disputes or unintended tax consequences.

A solicitor can guide you on how to structure these gifts to maximise the benefit for both you and your beneficiaries.

Secure your legacy with a Will

Beyond minimising the IHT liability on your estate, a Will ensures that your assets pass to the beneficiaries of your choosing, prevents a lengthy and costly estate administration, and protects cohabitees (including unmarried partners) and children (particularly minors and/or those from first marriages).

Dying without a Will can be extremely problematic, costly and stressful.

By not having one, you could inadvertently hurt those you love and cause costly, painful, and lengthy litigation amongst those affected.

At Palmers Solicitors, we make the Will preparation process as easy as possible, giving you peace of mind knowing that your legacy is secure.

Our expert private client solicitors are equipped to help you with all aspects of estate planning, from setting up trusts to preparing for future tax changes.

To find out more about amending your Will and reviewing your estate plan, contact us today.