ahead of the curve - Volume 2

October 2018

COULD ROBOTS SOLVE THE

SOCIAL CARE

CRISIS? THE WORKSPACE

REVOLUTION

IS COMING! DESIGNED BY CITY OF BRISTOL COLLEGE STUDENTS #GIFTEXPERTISE

The

countdown is on…

Stadium for Bath

4-5

Grey Matters

6-7

Could robots solve the social care crisis?

8-9

Getting under your skin

10

Brexit: the countdown is on

11-14

The new R&D economy

15

Workforce of the future

16-18

Taxing crypto currencies

19

How to manage your reputation in the digital age

20-21

The reinvention of the rural estate

22-23

Leading Edge Mesothelioma UK

24

With less than six months to go until the UK leaves the EU, there is no doubt that we are facing some considerable challenges. Our special Brexit feature looks at some of the main issues businesses need to consider which the media haven’t yet highlighted.

After Brexit, the next major challenge is the social care crisis. Could a four foot tall human shaped robot called Pepper be the answer?

Read more on page eight.

Don’t miss Leading Edge featuring Mesothelioma UK; how they are using bank fines to raise awareness of mesothelioma and the help that’s available amongst armed forces veterans and serving personnel. Every issue we donate the back page of our magazine for a charity to gain publicity and a bursary to support their work.

We are delighted that as part of our #giftexpertise programme students at the College of Bristol have designed this issue to give them work experience of producing a magazine. We have really enjoyed working with them and hope you agree they have created a stunning design.

If you have any feedback on the current issue please email us at aheadofthecurve@roydswithyking.com.

Graham Street Managing Partner Royds Withy King

Ahead of the Curve magazine was designed by the City of Bristol College BTEC Graphic Design year two students

Rebekka Johnson

Layla Leigh

Chloe Ireton

Finn Wathan

Daisy Crocker

Andy Probert

Molly Yeatman

Helping TEDx to light up the future in Bath The TED organisation is a non-profit global community whose mission is to spread ideas to change attitudes, lives and ultimately, the world. The TEDx programme brings the spirit of TED’s mission to local communities across the globe through a mix of diverse speakers and topics.

The first TEDxBath event took place in Bath Abbey where talks covered topics such as “The power of children’s imagination” and “Will robots be our new best friends?”

As one of the founding partners of the TEDxBath, the event was a great opportunity to position ourselves as a forward thinking business within the local area and to forge relationships with the innovators that were speaking.

Is your horse

microchipped?

New rules due to come into force The Equine Identification (England) Regulations 2018 came into force on 1 October 2018, replacing the Horse Passports Regulations 2009.

After a grace period of two years, it will be mandatory for all owners to microchip their horses, ponies and donkeys. Under the previous rules, it was only horses born after 2009 that had to be microchipped. However the new regulations will require all equines to be microchipped regardless of age. So if you have an older horse, pony or donkey that has not been microchipped, or the original chip has failed or migrated, you will need to ensure that a microchip is inserted by 1 October 2020.

Why are the new rules needed?

To help prevent abuse and improve equine welfare. This year the RSPCA reported that it had rescued more than 1,000 horses that had been fly-tipped or dumped, often in awful conditions. The new law will enable local authorities and police to track down the owners of dumped and abandoned horses and will allow lost or stolen horses to be reunited with their owners more easily. The change to regulations have been welcomed by the British Horse Society and animal charities.

Do the rules apply to all equines?

The rules apply to all equines except semi-wild ponies living in Dartmoor, Exmoor, New Forest and Wicken Fen. These animals do not require a passport or microchip until they are moved from the designated area or treated by a vet.

What are the consequences for non-compliance?

Owners could face sanctions from their local authority, including a compliance notice and possibly a fine of up to £200, if equines are not microchipped by October 2020. The cost for the microchipping procedure is around £25-30, which is a small price to pay for responsible owners to ensure that their animals can be located if stolen.

Win a night for two in the exclusive Royal Berkshire Hotel Ahead of the curve are offering one lucky reader the chance to stay in the Royal Berkshire Hotel – a beautiful 18th century country house in the heart of Berkshire. This striking red brick Queen Anne mansion, which dates all the way back to 1705 has 15 acres of beautiful landscaped gardens for you to explore during your stay. If you want to head further a field you’ve got Ascot Racecourse on your doorstep.

All you have to do to be in with a chance of winning a luxurious night for two is answer this question: What is the name of the robot on the cover of this edition?

Email your answers to aheadofthecurve@roydswithyking.com.

Act now to protect your privacy!

When interests diverge, in business or private life, people can often be angry enough to inflict damage on their former partners, colleagues or friends. The time to put protective measures in place is when you don’t expect issues to arise as if things do go wrong, financial and emotional benefits can be gained from being prepared.

Lack of awareness of vulnerabilities often enables unscrupulous individuals to take advantage by appropriating a business’s assets.

By the time a business realises that its client lists or trade secrets have been stolen, damage has often already been done. Similarly, in today’s employment market, candidates are increasingly willing to enhance their applications using misappropriated confidential information. Having the right policies in place, such as banning emails from work accounts to personal ones, can discourage and prevent such misappropriation before it occurs.

The growing threat of cybercrime is another area where specialist support is an advantage. Data blackmail by cybercriminals can hit high profile individuals both in their business and personal lives.

Again, pre-emption is key. Family training on online data security is available, as is monitoring the integrity of home WiFi and CCTV cameras vulnerable to hacking. In the business world, media and reputation management advice goes hand-in-hand with regular network penetration testing.

When things do go wrong you need access to experts in the rapidly evolving arena of privacy law. Injunction proceedings can now be served on unknown perpetrators using the email address that the blackmail demand originated from. Permanent injunctions can also be obtained, preventing misuse of your trade secrets, without first needing to identify those now holding it.

If the loss or misuse of data does occur then there are short timescales within which to react. You need expert advice from our privacy and reputation mangement team.

Take a break!

A pause in the KitKat trade mark saga In a decision released on 25 July, the European Court of Justice rejected KitKat’s appeal that its four finger chocolate biscuit had acquired distinctive character through use in the European Community, and so it did not qualify as a community shape trade mark.

The Judgment established that it must be proved that a trade mark has acquired distinctive character through use throughout the EU. A significant body of evidence will be needed to succeed in such cases. Brands may be better advised to create unusual and obviously distinctive shapes, rather than try to prove an existing shape of biscuit or chocolate bar (or otherwise) has acquired distinctiveness.

The opponent in the KitKat case is Mondelez, owner of Toblerone, which is a registered shape mark. But before Brexiteers cry foul of anti-UK sentiment, it should be noted that KitKat is owned by Nestle, a Swiss company.

The Nestle application will now return to the Trade Mark Board of Appeal, so this isn’t the end of the case, just taking a break!

Winners will be picked at random.

3

Stadium for Bath

Amazing Architecture Complexity of building in a world heritage city will make the new stadium “something exceptional” The development of modern sports stadiums has been shown to have long-lasting and widespread social and economic benefits which extend far beyond their local communities.

The world heritage city of Bath is one of the latest places to be earmarked for a brand new stadium. But unlike many other locations, Bath’s global architectural, historical and cultural significance makes the proposals unusually complex with a myriad of different factors to consult on and consider.

In addition to creating a state-of-the-art home for Bath Rugby, the proposed Stadium for Bath development is expected to include improvements to the current road layout to ease traffic bottlenecks, a highly innovative car park located underneath the pitch itself and a conceptual curved bridge which links the heart of the city to a regenerated riverside area with exciting new retail and leisure potential.

We feel a great sense of opportunity and also responsibility in terms of the stadium design and riverside regeneration, but also in the significant contribution we can make to the community through the long-term social legacy which this project can create.

We believe in the power of elite sport to inspire and instil a sense of pride. We also recognise the unique opportunity we have to use sport every day, to promote sporting participation and active engagement with people from all corners of the city to promote physical and mental wellbeing, social cohesion and to support our communities. We are delighted to have the specialist planning expertise of Royds Withy King supporting us on this complex project”.

Designs for the new stadium have been unveiled together with an innovative riverside regeneration scheme, both of which will provide enhanced facilities for fans, community and sporting groups, residents, tourists and businesses.

The images released so far and reproduced here, are concepts rather than final designs, provide an exciting glimpse into what the future might hold for the “Rec”.

A formal planning application is due to be submitted towards the end of the year, following an extensive period of public consultation.

Stadium for Bath brings together Bath Rugby, its charity Bath Rugby Foundation and project management company Arena 1865. Royds Withy King’s real estate and construction teams are proud to provide legal advice and support.

Chief Executive of Bath Rugby, Tarquin McDonald, believes Bath is on “the brink of something exceptional. There is an opportunity to create something in the heart of Bath which reflects the ambition and rich heritage of this unique city and which is a source of pride and inspiration for everyone.

4

Paul Daniels, head of real estate said “As a firm with its history deeply rooted in Bath, we feel hugely honoured to be involved in such a crucial project for the city. This project brings with it a number of potential planning and construction challenges but we are working with our client and its other professional advisers to find commercial solutions to these. The resulting stadium and enhanced riverside environment will be a fantastic asset for the whole of Bath”.

Stadium design shown is a concept and not final

Proposals include:

CEO interview Tarquin McDonald Chief Executive Bath Rugby What are you biggest challenges in this project?

Everyone feels a unique sense of ownership for this fantastic city and for a project of this significance it is important that we engage with a multitude of stakeholders, whilst not losing sight of the opportunity for the city and the community.

A curved stadium in keeping with Bath’s worldrenowned architecture, with 16,000 seats and capacity for 2,000 additional people on the terrace.

A 600-800 space car park to be built underneath a hybrid or fully synthetic raised playing surface which can be used by the public on non-match days as well as by schools and sports groups.

Plans to redevelop and extend the currently unused riverside frontage alongside the stadium providing indoor and outdoor retail and leisure space as well as much needed conference and banqueting facilities.

What is your vision for this project?

At the core of the project is an amazing new home for Bath Rugby and our loyal supporters, keeping rugby in the heart of the city. Critically, we have a unique opportunity to use rugby as a catalyst to regenerate the riverside, to create a lasting social legacy and an exceptional destination which everyone in Bath connects to and which fosters a sense of civic pride.

What do you do when you’re not at work?

Working in sport is a privilege, it’s a passionate environment so doesn’t really feel like a normal working day. If I need a break running is my meditation and my two young kids are my reality check.

5

Diversity and inclusion There are many areas of the law that aren’t black or white. Grey Matters is our know-how programme to help you discuss those intricacies.

There is absolutely no doubt that supporting diversity and inclusion is simply the right thing to do. You only need to talk to each other, follow social media campaigns, browse leading retailers’ clothing lines, look at chart-topping film releases and read the latest publications to see that it is what our society wants.

Diverse teams perform better

There are many ways to improve diverse candidate attraction

Diverse groups offer a solution to the growing talent gap Avoid masculine terminology Diverse insight enables you to fulfil your customers’ needs Diverse minds provide greater innovation and creativity Being inclusive will boost your brand as an innovator

And if you don’t manage diversity properly, you could fall behind your competitors, as more and more leading organisations request to work with suppliers who can offer diverse teams.

As a technical workforce solutions provider, we are frequently asked by our customers how we can support them in improving their diversity.

6

Cut down on that long list of unachievable desirable skills Highlight your flexible working policies

However what’s the point in tailoring your job adverts to attract more diverse talent, if people aren’t interested in reading them?

In 2017, we created the Diversity Matters Insights Audit programme, to highlight the worrying lack of diversity in the workplace. Since then we have hosted three meetups across the country, launched webinars to support returners in securing new roles, delivered recruitment workshops and supported the Ministry Of Defence with their annual Women in Technology conference.

Diversity and inclusion, the lawyer’s perspective As an employment law specialist, clients often ask us about discrimination, particularly reducing the risk of claims against their businesses. We can all learn from Claire that having a more diverse and inclusive workforce is about so much more than just avoiding employment tribunal claims!

Employing a diverse workforce opens up huge possibilities and encourages creativity and innovation, easier recruitment, better retention and higher overall performance. Given the gender pay gap reporting in the UK earlier this year and the high profile reports of sexual harassment across the globe, businesses are now under the spotlight and pressure is increasing to deal with diversity and inclusion issues.

Be sure to be inclusive when hiring We believe that to adopt truly inclusive recruitment practices, it is necessary to support people from all walks of life in their career search.

The aim of inclusive recruitment shouldn’t be to target one single group. To ensure that the best talent is presented for every role by increasing the candidate pool and reaching out to EVERYONE, regardless of age, sexual orientation, gender reassignment, religion, sex, race, disability or marital, parental and carer status.

With the benefits that a diverse and inclusive workforce can bring, it‘s perhaps surprising in today’s society how much trouble unconscious bias continues to cause. Unconscious bias happens when we make incredibly quick decisions/ judgments of people and situations based on our own personal experience, backgrounds and cultural environment. It’s “unconscious” because we don’t really know that we’re doing it – and we’re generally not aware of the implications it causes. Unconscious bias not only affects recruitment, but also salary negotiations, learning and development opportunities and ongoing progression.

By this, we mean enabling under-represented groups to have the same opportunities as the next and recognising when to adapt the hiring process to ensure everyone has a fair chance.

The hiring of “mini me’s”. Recent evidence suggests that recruiting managers are looking for individuals similar to them in terms of hobbies, experiences, how they dress and present themselves. All of which are of course affected by cultural and sociological demographics – which can result in less obvious discrimination claims.

As businesses begin to embrace inclusive recruitment in earnest, it is becoming apparent that a lack of agreement persists over who should be responsible for developing the culture: management, HR, or marketing departments? This is a grey area as there is no ‘one size fits all’ approach to attraction, screening, interviewing and hiring practices.

We have developed an Insights Audit programme which ‘takes care of everything’; from the initial audit of your current recruitment processes, to coaching your hiring community. We create a targeted attraction campaign and a bespoke interview process.

We can even link you up with the right partners to support with specific initiatives, enabling diverse talent pools - those who frequently miss out on opportunities via standard hiring processes - to apply for that dream role. It helps you to ensure that the RIGHT candidate is hired, bringing a culture of innovation to your business.

Only 14% of workers are comfortable speaking to their managers about stress 1 in 16 FTSE 100 board members is from a BAME (Black, Asian, Minority-Ethnic) background 17% of employees in the UK tech sector are female

So how can you overcome bias?

•

It‘s time to move away from the old idea that a person’s “fit” in your business should be determined based on their similarities to others working for your organisation, their hobbies and leisure interests and the university or other educational establishments they have attended.

•

Recruit the best person for the role, not the person that you unconsciously and quickly conclude is the right “fit” for your business.

•

Address concerns that a female hire (particularly at a senior level) might result in periods of maternity leave, or that older employees won’t have as much (or as long) to give as they are getting ready for retirement.

It’s not reinventing the wheel by any stretch, just recognising the benefits that different individuals can bring.

Fewer than five out of 10 disabled people and three in 10 adults with Autistic Spectrum Disorder have a job

Our Grey Matters feature was supplied by Claire Farrow, Diversity and Inclusion Partner from Outsource

7

COULD ROBOTS SOLVE THE SOCIAL CARE CRISIS? In the UK, regardless of Brexit, we will need an extra 700,000 care roles by 2030. It has been argued that the Department of Health and Social Care (DHSC) has not been doing enough to support a sustainable social care workforce.

The number of people working in care is not meeting the country’s growing care demands and unmet care needs are increasing.

8

IS PEPPER THE ANSWER? Pepper is a four foot tall human shaped robot developed in partnership by the French and manufactured and marketed by Japanese company SoftBank Robotics.

He is the first humanoid robot capable of recognising the principal human emotions and adapting his behaviour to the mood of his interlocutor. He has been designed to be a day-to-day companion who is able to perceive emotions of joy, sadness, anger or surprise and can also interpret a smile, frown, tone of voice and other nonverbal language.

In addition to Pepper there are currently around 20 other robot models who are part of the same initiative designed to work within the social care sector from Paro the robotic seal who has been used to help people with dementia and Alzheimers; Tree, a movable screen that assists people with standing up and walking; to Marvin (a smaller version of Pepper).

Daily headlines may focus on our fears of super-intelligent machines turning into the “killer robots” of a dystopian future, but the story here is how technology can bring huge advantages to the social care sector.

Our client Somerset Care has done an initial trial of this technology in their care homes. Chief Executive, Jane Townson shares some of her experiences: “We introduced Pepper and Marvin into one of our care homes, to dementia residents and our activity coordinators. The residents quickly became attached, talking to and stroking them. The robots are very endearing: kindly, cute and childlike with big eyes. One of our male residents who is usually very withdrawn and only interacts with one staff member’s dog had the same reaction with Pepper as with the dog and one of our female residents who doesn’t generally like to join in with activities really engaged with the robots.

All too often technology providers don’t ask the user what they want and gadgets are invented that people don’t want to use. A classic example is the pendant alarm which was developed as a 24/7 “talking pendant” and is a way to call for help at the push of a button in the event of a fall or medical emergency. This generally ends up in peoples’ drawers as users don’t want to be found in their nightclothes by the ambulance services.

However, Pepper and the other robot models have been developed with individuals in mind and are able to adapt, learn and tailor their interactions according to what they find out about an individual. They can help prevent loneliness and isolation, improve mental health and reduce care giver stress. They are designed to complement the existing care team and be present with someone who might otherwise be alone. They have a tablet on their chests which people can use to Skype call, play videos, games or music or remind them to take their medication”.

But will robocare, technology solutions and artificial intelligence ever replicate altruism and empathy?

Jane thinks not but it can help, “Recently we were able to use technology to live stream a resident’s grandson’s wedding via Skype.

The care home staff made a cake and organised some champagne and the lady felt she had been part of the wedding”.

Jane Townson Chief Executive Somerset Care

Benefits to the care provider:

Benefits to the individuals and their families:

Take the strain off over-burdened carers and care providers

Detect the health of that individual and communicate that information to care providers

Elevate the role of carers by removing some of the more basic routine tasks such as reminding individuals when to take their medication and helping them contact their relatives and allow them to focus on more bespoke care programmes

Help people stay independent for longer by aiding with the help of daily tasks

Increase efficiency and the ability to use the business intelligence and data to inform service delivery and improve care standards

Keep them engaged with group games, including memory quizzes, exercises or singing activities Family members who live far away can book time online with the robot and control it from their own computer, enjoy an extended call/interaction and give the impression that the person is closer

9

Getting

Under

your

Skin

Laser technology breaking new ground

Cobalt’s founders focused first on developing products that could be sold to generate trading revenue whilst they continued the development phase of what SORS could achieve.

Back in 2004 collaborators at the Science and Technology Facility Council’s (STFC) Central Laser Facility, led by Professor Pavel Matousek, stumbled across a technique for analysing the chemical make-up of materials. The technique is known as Spatially Offset Raman Spectroscopy (SORS). The team realised that SORS could determine the chemical make-up of substances by nondestructive means, which could have applications in bio-medicine, chemistry, pharmaceutics, security, forensics and heritage.

This trading profit funded the next phase, offering a different approach to batch testing for pharmaceutical companies.

The use of SORS as part of a production line allows tablets to be scanned rapidly and non-invasively, thereby reducing wastage and speeding up production.

Fast-forward and the team founded Cobalt Light Systems, based at Harwell in Oxfordshire. A spin-out from the STFC, Cobalt builds on the STFC’s scientific breakthroughs to turn them into commercial opportunities. Their work is not only already saving lives but also has the potential for use in early medical diagnosis of conditions such as breast cancer. When it came to Cobalt’s sale for £40 million in 2017, the founders had managed to retain almost all of their equity in the company.

The successful focus on trading revenue, in order to enable growth without significant dilution of equity, together with the capability of the SORS system, sets this team of collaborators apart from many other entrepreneurs.

How does the technology work?

The SORS system is able to identify liquids inside opaque plastic or glass containers. SORS involves probing at one location and detecting at another, Pavel states: “Our minds, and those of others, were constrained by our perception of how the Raman Spectroscopy process worked, but once we made this serendipitous discovery, we quickly realised it had potential major applications. We swiftly filed eight patents which became the basis of our company Cobalt Light Systems”. It was retaining ownership of that intellectual property that enabled the founders to hold on to the value in their hard-won assets.

10

The second phase of technology developed by Cobalt was airport security scanners. They are able to scan travellers’ medicines and baby milk in bottles without opening them and compare their chemical make up to a database of explosive substances.

Suspicious substances are automatically identified and flagged.

To date there are around 500 operational units in airports across Europe and Asia Pacific, with Heathrow running over 80. The technology advancement is likely to speed up airport check-in and transfers and may lead to a relaxation of the rules on liquids in cabin baggage.

What does the future hold?

Cobalt has recently launched a SORS handheld device which will allow first responder teams called to spillages of unknown substances, fire fighters attending chemical fires and border controls forces looking for narcotics to identify them. There is also an application in the detection of improvised explosive devices.

Cobalt has won numerous awards including a Queen’s Award for Enterprise and the 2014 Royal Academy of Engineering MacRobert Award, the UK’s most prestigious prize for innovation in engineering. The next phase in the development of this technology is to look at its use in early diagnosis of anomalies in human tissue. One system for saving and improving lives in so many arenas is a remarkable achievement and demonstrates how effective a focus on equity retention and early protection of intellectual property can be.

BREXIT, THE COUNTDOWN IS ON…

Brexit and Immigration If the referendum result came as a bombshell for much of the UK, spare a thought for the EU nationals living here. Protests from all corners of society led to the Government reassuring those nationals and agreeing the EU Settlement Scheme.

With less than six months to go until we leave the EU we believe Brexit isn’t all about black and white outcomes. Come rain or shine, the world will keep turning when the UK leaves.

In this feature we get commentary from the Head of Economics for HSBC UK Commercial Banking, a business owner and from Interleges members, our alliance of international law firms. We also run through what we think are the main issues facing some of the sectors the media haven’t really highlighted yet.

The EU Settlement Scheme allows for those nationals and their family members who have resided in the UK for a continuous period of at least five years to be granted Settled Status. This gives them indefinite leave to live and work in the UK. Those nationals who have resided in the UK for a period of less than five years but would otherwise be eligible for Settled Status can apply for Pre Settled Status, allowing them to complete the five year continuous residence period and apply for Settled Status.

During the transition period between 29th March 2019 and 31st December 2020, EU nationals and their family retain free movements and can apply under the Settlement Scheme.

What we do know is that investors and companies don’t like uncertainty. As news flow comes and goes, there could be big shifts in sentiment and swings in market confidence. As things keep changing, it makes it even more difficult to invest based on any particular outcome.

The outcome should become clearer as we approach the deadline though and markets are generally quick to factor things into share prices. So unpredictability could ease as we get closer to the final curtain call. Whatever Brexit entails, don’t let it derail your plans. There will undoubtedly be factors you can’t control, but we think its important to focus on what you can. This will give you the best opportunity to grow in the future.

Helen Murphie, Immigration Partner Royds Withy King

Brief overview of the facts 3.8 million nationals from the EU live in the UK (approximately 6% of the population) 2.3 million of those are in UK employment The EU population in the UK has gone up by 240,000 in the last 12 months

Ultimately both businesses and individuals need to keep reviewing their circumstances to minimise their risks and maximise the opportunities Brexit may present for them.

There has not been a feared Brexodus - although slightly more EU migrants left the UK after the referendum than in previous years

Claus Andersen, Head of Brexit Royds Withy King

EU Settlement Scheme Advantages

Disadvantages

Individuals can apply online for Settled Status at a cost of £65 Continuous qualifying residence during the five year period is defined as “no absences for more than six months in any 12 month period” Children aged under 21 of EU nationals who either have Settled Status or are applying at the same time will be eligible regardless of the five year criteria Parents of EU nationals no longer have to show that they are dependent on the EU national The Home Office will assist people who make mistakes on their application forms

The simple The simplest scenario for business would be that the UK retains all its access to the Single Market with some restriction on the free movement of labour.

Negligible change to the way business is conducted.

No present clarity for either EU nationals or businesses regarding EU nationals who want to come to UK after December 2020 EU nationals with Permanent Residence must obtain Settled Status Those with Indefinite Leave to Remain will most likely have to obtain Settled Status to benefit from the new rules if they wish to live abroad for any length of time and not lose status in the UK The Home Office is currently under resourced to deal with applications

The complex

The moderate A new free trade agreement is negotiated between the UK and the EU, restricting free movement of labour and access to the Single Market.

No tariffs but border-controlled movement of goods with EU.

The UK enters into extended negotiations resulting in the UK reverting to the WTO standard tariffs applicable to any other nation trading with the EU.

Tariffs, customs, border complexity and everything in between.

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The final stage of the Brexit negotiations got underway in April.

But a successful outcome is not guaranteed. Even if the UK government can agree terms with the EU it’s still possible that the House of Commons might take a different view on the postBrexit relationship.

Any commentary on the process or mechanics of Brexit is therefore likely to be quickly overtaken by events. So this piece seeks instead to take a longer-term perspective on the prospects for the UK economy once the Brexit process is complete – whenever that may be.

The economic challenge posed by the UK’s departure from the EU is that doing business with the remaining 27 members is bound to become more costly. Meanwhile, building new relationships with other countries will take time and may never offset the reduced access to the EU’s Single Market.

Yet the process of leaving the EU isn’t suddenly going to turn what has been a relatively strong economy into a weak one.

Membership of the EU has brought undoubted advantages to many businesses by allowing them to take advantage of the economies of scale that are made possible by access to the Single Market. But the wide range of economic performance between EU members at a similar stage of economic development (e.g. Germany and Spain vs. France and Italy) suggests that other factors are at least as important in determining growth and prosperity. Among these are demographics (including migration), labour market flexibility, the burden of regulation and corporate tax regimes.

In this respect the UK is starting out from a position of relative strength. Over the past 25 years it has been a consistent outperformer among its peer group of western European EU members, with GDP growth averaging 2.2% a year against 1.6%.

So even if the pace of growth slows in the years after Brexit – and that is not a forgone conclusion – it’s still quite possible that the UK will be still be outpacing most of its close neighbours. Much will depend not just on how successful British governments are in concluding trade agreements with non-EU countries, but whether the UK is able to retain its relative strength in other areas.

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Of particular importance will be the availability of labour. In any economy which is operating at full capacity (as the UK now is), the key determinants of economic performance are growth of productivity and the expansion of the supply of labour. In recent years, the UK has been able to offset its poor productivity record thanks to a birth rate that is high by European standards and its ability to attract migrant workers.

The level of net migration has already fallen since the EU referendum, with the figure being around 240,000 in 2017 compared with over 320,000 in 2015. This may be a temporary phenomenon, and in any case could be offset by higher productivity. But, if productivity growth doesn’t pick up, and if the UK is less attractive to migrant labour after Brexit, then the pace of economic growth would inevitably slow.

Were net migration to fall to zero, for instance, then GDP annual growth would be around 0.3 percentage points lower compared with the immediate pre-referendum period.

The process of leaving the EU could well be difficult, and possibly disruptive. But once the dust has settled the key concern for businesses will be the availability of labour. If workers are harder to come by, whether from domestic or overseas sources, then firms will have to grapple with the dilemma of whether to pay more, or whether to replace people with machines, a process that is easier in some sectors than in others. Meanwhile, the challenge for the government is not only to fashion a new trade policy, but also to ensure that the UK’s long-standing sources of economic strength are not sacrificed.

Mark Berrisford Smith Head of Economics for HSBC UK Commercial Banking

Life sciences •

Uncertainty about R&D funding

•

Clinical trials may become more costly

•

Slower authorisation of new medication

•

Uncertainty regarding IP rights will result in increased administration burden

•

Mainland Europe could become more attractive for new market entrants

•

Highly educated foreign employees may turn to companies based outside the UK

Retail

Health and social care •

Slowdown in the housing market making risk-averse elderly sellers delay selling to move to a care home

•

•

As a result, could lead to lower fees for care providers and higher demand for domiciliary care

Stopping freedom of movement for people limits access to EU staff

•

•

Leaving Euratom means hospitals may run short of supplies to treat cancer patients

Possibility of tariffs, changes to customs regulations and a shortage of labour all threaten to raise costs for retailers driving prices up

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Staff shortages driving up wages in the sector

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The shape of the supply chain will change and logistics contracts may need reviewing

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Measures required to retain both EU and non-EU staff to mitigate the impact of Brexit

•

•

Future rules on the right of EU staff to work in the UK

UK consumer spending down as confidence slips and real wage growth lags behind inflation in an uncertain economic climate (esp ‘big ticket’ items)

•

Potential disruption to supply of medicines

•

•

Loss of EU funding for medical R&D

Consumers will become increasingly price-sensitive which will be a boost for online price comparison services and e-commerce

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New arrangements required for reciproal healthcare between UK and EU

•

Warehousing in demand as food retailers look to stockpile food (frozen warehousing is at 90% capacity already)

•

Weaker pound driving EU consumers’ spending with UK online retailers

Leisure and hospitality

Start-ups •

Divergence from EU IP and copyright rules making enforcement of IP rights more difficult

•

Future rules on the right of EU staff to work in the UK

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Payroll costs, on average, account for 32% of total hotel revenues in the UK – any increase in this cost resulting from an induced shortage of skills and tighter labour market would directly impact hotel profitability and investor returns

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Provider/supplier relationships may need revision due to restriction on movement of goods and services

•

Brexit will close the doors for talented engineers and scientists the key asset for tech companies

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Decline in outbound travel

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Funding: the European Investment Bank has slashed deals with UK VCs and private equity groups by more than two-thirds, with no equivalent funding from the UK government in sight

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Weaker pound could lead to an increase in the cost of imported items, potentially leading to higher production costs for businesses and tighter profit margins

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Leaving the EU’s Digital Single Market will drive up start-up costs

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UK companies could face pressure to move EU data to European datacentres

Weaker pound making UK a more attractive destination for EU holidaymakers

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UK start-ups will be more expensive after Brexit

Property

Charities and not for profit

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Supply chain: access to materials and products for construction projects

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Loss of EU funding could lead to consolidation to best utilise available funding after Brexit

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Access to people (currently 9% of construction sector workforce are EU nationals)

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Uncertainty leading to subdued investment with the sector unwilling to commit to long-term projects or contracts

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Cheaper pound making UK attractive as it becomes cheap compared to other European markets

The Charity Finance Group has said that a ‘clean’ Brexit, which sees the UK leave the Single Market and the customs union, poses less risk for charities than other options because it gives the Government the flexibility to reform tax rules that have been holding back the sector

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Brexit – The Point of View of an Irish Lawyer “Brexit represents the single greatest economic and foreign policy challenge to the Irish state since the Second World War. There is hardly any area of Irish life that will not be affected.”1 Since gaining our independence in the 1920s, we remained tied economically to the UK market and currency. We joined the EU, with the UK, in 1972.

We were at that time one of the poorest countries in Europe.

The Good Friday Agreement in 1998 was created on the basis of the framework of the EU. The fact that vast areas of life were increasingly regulated by the same or similar EU rules facilitated the removal of the physical manifestation of a border.

Our relationship with the UK remains enormously important. A great part of goods exported to the continent from Ireland uses the UK as a land bridge.

Trade with the UK represents 14% (down from 50% in 1972) of our total output.

For certain sectors, the UK market remains extremely important, notably the agri-food industry, where 40% of production is exported to the UK. Brexit, whatever its form, will adversely affect us. However an abrupt Brexit, with no transition arrangements, would cause a severe shock to the Irish economy in the short term and cause a dampening effect on our growth in the medium term.

Minimisation of the impact on trade with Britain is thus a major priority of Irish foreign policy. This means getting a generous deal for the UK. However the overwhelming consensus of Irish public opinion is that our future is in the EU. Thus, Ireland has a long-term strategic interest in preserving the integrity of the EU. Member states of the European Union, including Britain, have deep experience of finding last-minute solutions to apparently irreconcilable positions. But there is deep concern that miscalculations of catastrophic significance could be made by either side.

The re-imposition of customs and regulatory procedures and inspections would impact on every aspect of Irish life. Much of the food in our supermarkets is distributed through the UK. A huge proportion of food products pass back and forth over the border before being finally processed and much of our energy needs come through the UK or are intertwined with the market in Northern Ireland.

Our instinct in legal and policy matters has been to look to the British position.

Our focus of attention now moves away from the UK to other like-minded countries such as the Netherlands or Sweden. We will need new allies and increase the resources we devote to EU and international relations.

Whatever form of Brexit ultimately emerges, our relationship with Britain will be greatly changed.

Views expressed by 6 EU ambassadors to Ireland

1

Mark Summers - Managing Director Avon Valley Precision Engineering are a precision manufacturer for use in the Aerospace and Defence industry and a major supplier to AIRBUS (who issued an outspoken warning that the “severe negative consequences” of withdrawal from the EU could force it to leave Britain).

What’s your view on Brexit – positive or negative?

Mark Summers said: “We are still a long way from understanding the type of Brexit business has to plan for and this is a major cause for concern. When the large corporates state they are deferring UK investment or worst still actively looking to exit the UK, it impacts not only on their employees but also the sizeable UK supply chain that helps underpin their UK operations”.

“On a more positive note we are also beginning to see an upturn in enquiries from potential European customers keen to either establish or reinforce a UK supply chain presence.”

Are you making any specific post-Brexit plans?

AVPE is a privately owned SME so there is an obvious limit on our bandwidth to plan for an event that is currently not precisely determined. Our current focus is very much around establishing product rules of origin and creating stock building plans to mitigate any potential custom delays.

What’s your vision for future growth strategy?

Over the coming 12 months AVPE is predicted to increase its turnover in excess of 20%. We therefore need to make investment in both machine capacity and skills to underpin this.

In many respects investment decisions still need to be made off the back of client order book confidence. Brexit uncertainty just adds a further complication to this decision making process.

Future political strategy It is hoped that the politicians on all sides will agree an appropriate orderly transition which gives businesses ample time to provide robust solutions to all the practical business implications that Brexit could present. I guess we will have to wait and see on this but the train is fast leaving the station!

“For me, the European Union is first and foremost an economic union that ensures free trade. I fear that Brexit will limit free trade in Europe. Against this background, I rate the exit of the UK as negative. But I hope that the relationship with the UK will not change and the markets will regulate themselves.”

We have already seen the fruits of uncertainty: Lack of clarity on the future has shaken confidence Sterling has weakened, making property and deals here less attractive for British investors Deals with British financing or trade purchases by UK companies of Irish businesses have been pulled There has been a steady flow of businesses, financial and others, relocating from London to Dublin. Ireland will benefit from this flow of activity, but it is not felt that it will outweigh the damage done to the economy as a result of other impacts of Brexit Irish businesses with significant UK exposure have set up subsidiaries in the UK Practitioners of customs law, long the arcane backwater of tax practice, are now in great demand. Training courses abound The impact on the financial services industry is expected to be particularly severe

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“We are watching the coming exit from the EU with great interest. For us in New York, it raises more questions than it answers. Will the UK now become closer to the Norwegian model of required adherence to all EU laws and regulations if it wishes to trade with the EU, but with a reduced opportunity to shape those laws and regulations?

Will the UK’s trade growth with the Commonwealth countries – growth it was not able to maximise under the EU common policy – compensate for leaving? And, finally, how will we see the interpretation of EU laws and regulations in the UK Courts to businesses and institutions where there is no longer the need for a unified application nor resort to an EU appellate scheme? A fascinating experiment, in any event, and we wish our British cousins the best of luck.”

The new R&D economy

and the sharing mindset New model

Investor wariness

A new model for doing Research & Development (R&D) has developed in the UK where the function has devolved from large companies to start-ups and those further down the supply chain. This has grown out of the drastic restructuring of the 1980s and 1990s, when companies like ICI and GEC Marconi were broken up, or span out their profitable divisions.

The other driver is the embrace of Open Innovation, where large companies have outsourced their R&D to nimbler companies, often spun out from research at universities.

The leaders of this new R&D economy are often CEOs who gained their industrial experience at larger companies, or scientific founders who started companies based on their PhD research at universities.

Government funding provided through Innovate UK helps companies cross the ‘Valley’, but the private sector is more wary to invest. Classic venture capital avoids paybacks that take more than 10 years to realise. The City is reluctant to invest for the long term. It has taken IQE plc 30 years to be accepted in the City. Nanoco Technologies plc, which span out of Manchester University, has taken 15 years to start earning recurring revenue and the City is still wary of its progress.

Valley of Death By its nature the new R&D economy is spread thinly due to weaker access to funding in comparison with the older, wellfunded R&D centres. The smaller size of these companies also makes it harder for them to secure follow-on funding and early customers. Instead the beneficiaries are often the companies at the top of the value chain who can cherry-pick with whom they want to work. Under these conditions the challenge for new R&D economy companies is to reduce the time taken to transition through the TRLs (Technology Readiness Levels) in order to reach revenue.

Self-help Against this background, the Bessemer Society was formed over three years ago by a group of founding CEOs who recognised that companies operating in the new R&D economy needed more awareness of each other’s needs and opportunities. It began on a self-help basis (exchanging and sharing information at dinners mediated by leading figures in the new R&D economy). More recently the Society has begun inviting senior government officials to share, discuss and persuade as well.

New Victorians As the Society progresses it is also inviting more leaders in the value chain to join, from SMEs to OEMs, in order to share learning and opportunities more widely. The aim is to strengthen the roots of the new R&D ecosystem, drawing for its inspiration on the spirit and governance models (mutual societies and technical institutions) that characterised the Victorian age.

For further information on the Bessemer Society: www.bessemer-society.co.uk

Royds Withy King sponsors the Oxford branch of the Bessemer Society 15

WORKFORCE OF

THE

FUTURE

ARE YOU READY FOR THE WORKSPACE REVOLUTION? In recent years, disruptive forces have transformed how we think about entire industries.

Slowly but surely the way in which we think about offices, how we work and productivity has been changing. We are now approaching a tipping point and the results of this will transform the working experience for millions of people.

For smart businesses, this is a positive revolution that will create competitive advantage, cut costs and help attract and retain talent.

WHAT HAS GOT US TO THIS POINT? The rapid acceleration of technology has changed what’s possible – it’s now increasingly easy for a person to plug in and work from anywhere.

Workers are aware of this – particularly those digital native millennials who have grown up with this technology and whose expectations are less shackled by what was possible before. They know they can work anywhere and they know that throughout their careers they will be expected to work hard. This means that they appreciate flexibility. They want to work for a business within which they can experience the benefits of a collaborative community, without wasting hours of their day.

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Businesses are increasingly aware that a smart strategy on flexible working can help them to secure the best talent and financial advantages. A flexible workspace approach cuts real estate costs and allows businesses to concentrate on their core business.

This allows large businesses to become more nimble.

Hollie Markham from SPACES, Bath, part of the IWG portfolio, said:

“a business can move people into a new market quickly and take them out again when required.

They can base their people close to their customers and suppliers and do all of this without committing to long leases and expensive relocation costs”.

This workspace revolution will bring benefits to smart businesses of all sizes – from start-ups to large, international businesses.

FOR START-UPS THE BENEFITS ARE IMMEDIATE An entrepreneur wants to focus on growing their business, not spending time and money on real estate leases. They can’t compromise on those things that are expected of every professional business – best-in-class IT, security and telecommunications capabilities. Even as a fledgling business they want to have a base where they can bring potential customers and partners for meetings without letting down their brand. A start-up with a handful of employees can only benefit from establishing a professional community with whom they can talk, brainstorm new ideas and forge new relationships. Flexible workspaces provide answers to all of the above.

THE BENEFITS TO LARGER BUSINESSES ARE ALSO NOW INCREASINGLY RECOGNISED Many of the world’s most innovative business success stories have a dedicated flexible workspace strategy. Large corporations have a requirement for a large, dedicated HQ, but by complementing this with a flexible workspace partner they can drive real benefits to their business.

Employee wellbeing and personal satisfaction will increase, and in today’s battle for top talent that means a huge amount.

Fewer hours spent commuting, greater independence and flexibility means more productive workers.

In fact, employees are likely to become more creative – driving more innovations for your business. One of the enemies of corporate innovation is ‘groupthink’. Having

all of your people under one roof, having the same conversations with the same people day after day might be stifling the potential of them generating original ideas.

Putting them into a collaborative space with like-minded businesses and people can help free up their thinking.

Happy, more creative employees can only be good for a business.

Flexible working is effective at every level of a business.

The right partner can deliver workspace solutions that allow creatives to work in a collaborative workspace, while also providing high-end, quieter serviced offices for the C-suite and even ‘members’ club’ spaces for events and meetings.

Malcolm Gregory, Head of Employment at Royds Withy King says: “A ‘one-size fits all’ approach won’t work. For too long, however, this is exactly the approach most businesses have taken for their offices. This has happened because most people didn’t see any alternative. Just as a decade ago there was no alternative to CDs, then Spotify came along. The workspace revolution is coming. Smart businesses will start planning for it now”.

WHO IS LEADING THE WAY? Online retail giant Amazon and shared workspaces startup, WeWork, are leading the charge on the workspace revolution. Their aim is to reinvent the spaces and communities where people go to work and cater to the workforces who demand more than just a job – think personalised experiences, balance and wider fulfilment.

Continued overleaf

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Amazon is taking the smart home experience into the workplace with the development of voice-activated virtual assistant ‘Alexa for Business’. The idea is that employees could use Alexa to help them be more productive, like kicking off video conferences with a simple command.

WeWork is piloting the tool as part of their ambition to put people at the centre of the working experience.

As well as technology, the two organisations are teaming up over real estate with Amazon looking to create an alternative 91,000 sq. ft. hub in Manchester city centre.

WeWork will provide managed office space as a service through its ‘Powered by We’ programme - custom interiors.

WeWork staff will be on hand to help with community initiatives and data insights into office efficiency.

One thing is clear – they are showing that they are here to reinvent the marketplace and to compete for top talent who know what they want from work.

Amazon ahead of the curve…

Amazon Go Imagine walking into a store and automatically paying for your groceries without waiting in a long line. Amazon Go is the first of its kind to use walk out technology innovating the way consumers buy groceries. According to a promotional video, the store concept uses several technologies including computer vision, deep learning algorithms and sensor fusion to automate much of the purchase, checkout and payment steps associated with a retail transaction. The store concept is seen as a revolutionary model that relies on the prevalence of smartphones and geofencing technology to streamline the customer experience, as well as supply chain and inventory management.

Amazon Cinemas Amazon wants to acquire Landmark Theatres, a move that would vault them into the bricks-and-mortar cinema industry. Pushing into movie theatres would follow Amazon’s expansion into a myriad of other forms of media, including a film and TV studio and music service. With Landmark, it gets a chain focused on independent and foreign films that was founded in 1974. The company has more than 50 theatres including high-profile locations in New York, Philadelphia, Chicago, Los Angeles and San Francisco.

Aimee Dee Retail specialist Royds Withy King

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Amazon Insurance Last year Amazon.co.uk launched Amazon Protect, its service which covers purchases against accidental damage, breakdown and theft. Now the online retailer is said to be recruiting London-based insurance professionals for a market disruptor not just in the UK but in Germany, France, Italy and Spain.

Taxing Cryptocurrencies In our first edition, we covered the subject of cryptocurrency and divorce proceedings. Here, Stephen Martin and Mark Richdon, tax advisers at Bishop Fleming, discuss the tax implications for digital currency holders.

Do I have to pay tax if I make a profit?

In short yes, or at least in the vast majority of cases. HMRC see cryptocurrencies as something that can be bought, sold or exchanged and so tax it like any other tradeable commodity.

What tax do I have to pay?

When can my crypto investment be treated as gambling?

Given the established markets that crypto operate in, it is very difficult to see how profits on mainstream cryptos could be seen as gambling. An interesting test case might look at cryptos in their infancy, where the markets are sufficiently random that investments rely solely on chance.

This may be some years away.

There are three possible ways crypto profits could be taxed:

So when would I be treated as trading in crypto?

• Paying income tax at rates of 20%, 40% or 45% if you are considered to be trading in crypto • Paying capital gains tax at rates of 10% or 20% if you are not trading in crypto • Treated as gambling and not subject to tax at all (this is very rare)

If you are using your company to invest in crypto then the universal rate of corporation tax, currently 19%, would apply, regardless of whether the company is trading in crypto or not.

There are a number of ‘badges of trade’ which have been established by the Courts. These look at the number of transactions, sources of finance, regularity of sales and the intention behind the investment.

Do I have to tell HMRC if I have sold crypto?

If you are trading in crypto, HMRC will expect you to complete a tax return.

If you are not trading in crypto, then the profits you make will normally be taxable as a chargeable gain. If your total gains in a tax year, including crypto, are below the annual exemption (£11,700 for 2018/19 tax year) you do not have to report this to HMRC, provided your proceeds are not more than four times the annual exemption. In other cases, gains will need to be reported.

In the unhappy event that you make a loss, filing a tax return will enable you to capture this loss for potential use in the future.

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HOW TO MANAGE YOUR ONLINE

REPUTATION

Reputation is incredibly fragile in the digital age. Communication technology has generated a need for the constant production of content. This has placed enormous pressure on journalists to provide a continuous stream of news, in multiple formats. Members of the press must generate more material than ever before and it has to grab the attention of readers, who have a vast array of information sources available.

IN THE DIGITAL AGE

The news landscape has changed dramatically in recent years and while media organisations continue to play a part in defining reputation, they no longer act as the sole gatekeepers of information. There have been fundamental changes in the way information is both published and consumed. In addition to navigating a constantly changing news landscape, companies and individuals must be alert to citizen journalism, as well as other elements of the digital landscape that influence opinions, such as social media feeds.

Social media websites and other online platforms have empowered everyone, with a voice that can transcend geographical barriers. The conversation that flows on these platforms moves quickly and it can be unpredictable.

Influencers can reach millions of people in seconds and tweets can spread like wildfire.

In addition to social media providing a stage for the rapid sharing of information, it also presents the opportunity for everyone to engage. There is pressure for companies and high-profile individuals to actively participate in these types of communication methods and the digital footprint of companies, leaders and employees is highly scrutinised.

The online space is dynamic and volatile. It is also becoming progressively difficult to opt out and not have a presence.

Rather, in order to manage reputation and exercise some level of control over the landscape, it is essential to be proactive with taking command of this space. Research by the Reuters Institute for the Study of Journalism at the University of Oxford has indicated that online platforms are becoming increasingly popular as a source of information.

In fact, online is gradually eroding the dominance of TV as a source of news.

The fast-paced digital news landscape can be extremely unpredictable and social media has the potential to fuel

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a global frenzy, with information snowballing and travelling around the world in seconds.

However, sometimes it is not the immediate storm that poses the biggest threat to reputation in the digital age. Search engines play a crucial role in presenting an easily accessible overview of certain topics. Therefore, the legacy of specific incidents can leave a prominent imprint on the online profile.

If the information flow is not sufficiently managed, historical issues can become a bugbear for many years to come.

Google is constantly used as a source of information when it comes to fact checking or conducting preliminary research. Smartphones make search engines an easily accessible tool that can be used anytime, anywhere. A quick search can provide a basic overview of a situation and answer even the most bizarre questions. Google is used by investors, journalists, employees and consumers alike to find out information about companies and individuals.

An old article about the CEO’s divorce may rank on page one for the company name or coverage about an employee dispute may steal the limelight. A school may have experienced an unfortunate event with a former teacher, which now has a domineering impact on its overall profile. Someone may have written a blog post that references inaccurate or out-of-date information and this comes up in prime position in a Google search, or a flippant tweet could have gained unwarranted distinction in the digital footprint.

In an era of online communication, the first page of Google provides the initial impression of an individual, business or organisation. In a world where the actions of leaders are often considered equally as interesting and important as corporate developments, the digital footprint of Board level executives also requires careful management.

Algorithms drive the ordering of information and a number of technical factors play a role with automatically determining what appears first. It is essential to analyse the information trail and implement a strategy that helps to control reputation in this area. Neglecting it can magnify problems during an unforeseen crisis and have a longterm impact on the perception of your business and key persons.

WHERE TO START?

It is important to be aware of the online landscape. An audit of the current profile for a business and its leaders is an essential place to begin, regardless of whether there is an existing reputation crisis. In fact, evaluating the current landscape and implementing pre-emptive actions can be crucial for minimising the impact of any unforeseen issues that may arise in the future. It is important to think about what keywords matter and what territories are relevant (the online profile can vary in different countries), as well as what content you would like to feature prominently.

It is also crucial to take a holistic approach to reputation management in the digital age. Business leaders, communications personnel, lawyers and technical specialists all play a role in supporting the digital footprint and providing the best result.

DR LAURA TOOGOOD IS MANAGING DIRECTOR AT FIELDMASTER GROUP. SHE IS THE AUTHOR OF ‘JOURNALISM AND PR: NEWS MEDIA AND PUBLIC RELATIONS IN THE DIGITAL AGE’ AND IS CURRENTLY WORKING ON HER SECOND BOOK ‘THE DEATH OF PRIVACY: FEAR AND SECURITY IN THE DIGITAL AGE’.

When dealing with the legal toolkit available to those who are subject to attempts to cause damage to their reputation, the benefits of considering advice on claims in defamation are relatively well known. Remedies are available to those whose reputation is substantially harmed by a statement, subject to exceptions. Options include financial restitution and more practical steps, such as the requirement for an apology in open court. Re-publication of that apology can reduce the impact of the offending statement. In some circumstances, the threat of formal action halts the conduct altogether.

Social media platforms are now sensitive to the impact on their own reputations arising from offensive or defamatory postings. Codes of Conduct are published for each platform with points of contact to which a breach of the Codes can be reported. Whilst this does not prevent the posting in the first place it can help to limit the potential damage it causes and to deter future posting.

WHAT IF YOU CANNOT DEMONSTRATE SUFFICIENT IMPACT FROM THE STATEMENT TO SATISFY THE TEST FOR DEFAMATION OR THE THRESHOLDS OF SOCIAL MEDIA ARBITRATORS?

There are other avenues for redress familiar to privacy specialists. If the motivation of those making the statement was malicious and the damage done was to your business reputation you may be able to bring a claim for malicious falsehood. This also covers circumstances where the maker of the statement has little credibility but nevertheless his or her actions have a negative impact. Privacy specialists can advise on a tailored solution, whatever the circumstances.

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The reinvention of the

RURAL

ESTATE Rural estates vary greatly in terms of size, value and their components, but they all face changes and challenges.

Recently, the need to evolve and diversify has created multidisciplinary rural businesses which operate through a variety of structures and in many cases underpin the local economy.

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Whilst agriculture still plays an important role, the income derived is often shadowed by the need for more lucrative businesses. These range from leisure tourism, micro breweries, renewable energy, commercial, offices, storage and industrial units through to weddings and the more traditional sporting offerings of shooting and fishing.

The commercial issues that face the rural estate are wide and extensive: - Forming the correct business structure - Regulating the terms the business occupies the land - Staff employment contracts - Service and supply contracts It is also the case that for many, these estates are not just a business venture, but often represent and underpin a much wider family with the provisions of homes, incomes and pensions. One of the fundamental principals behind a successful rural estate is ensuring that everything is “documented”. The most time consuming and costly issues that face many estates relate to misunderstandings or disputes, caused by lack of documentation or communication or both! There is perhaps sometimes a reluctance to incur professional fees, particularly when ventures are in their infancy.

As different members of a family invest time and energy in these ventures, it is perhaps not surprising that not all will be successful as the estate evolves. It can be particularly difficult to readdress the balance between family members when initial understandings and conversations are long forgotten. All too often we see estates come under financial pressure, which can often result in them being broken up and families going their separate ways, which clearly at the outset would never have been the intention. Whilst there are also numerous success stories out there, many have a clear understanding of what is required from whom and how each of those enterprises interact with the others.

Success story Farm reinvented as one of the world’s most famous music festivals Forty eight years ago farmer Michael Eavis created the Glastonbury Festival and ended up with some of the world’s biggest bands in his back garden. The Festival now funds the running of the farm and other projects. It’s a fallow year for the Festival so Michael is busy planning the next line up and investing in a social housing project on the farm as part of his legacy.

They are building 53 stone houses on the farm for rent by working people. He has invested £1m of his own money and they have matched Government funding.

Michael comments, “I have written into my estate that they can never be sold off not even by my children. I enjoy giving back – you can’t put a price on that”.

Rural economy update what you need to know Brought by our partner Knight Frank and covering some essential updates for rural landowners BREXIT & THE RURAL ECONOMY With less than six months until the UK leaves the EU, what is clear is that change to the UK’s rural landscape is already happening. In the Government’s consultation document “Health and Harmony: the future for food, farming and the environment in a Green Brexit” much more space is given to the environment than profitable farming. For those engaged in agriculture there will be an inevitable shift as we leave the EU to public money being paid to individual recipients primarily for the provision of public goods. Business plans from 2020 can no longer rely on the Basic Payment paid on an acreage basis and provision of environmental goods will become a commodity.

MOBILE PHONE MASTS The new Electronic Communications Code which came into force in December 2017 have not caused the anticipated concern among landowners fearing wide-ranging rights for telecoms operators. Whilst some operators have tried to push rents down at renewal, others have acknowledged the greater rights offered by the Code and kept rents at current levels.

There is greater protection for landlords, covering nonpayment of rent, compensation for damage and provisions should they want to redevelop the site.

The key for all landowners to remember is that leases of land for phone and broadband apparatus remain open to negotiation. It’s too early for market rents to have been set under the new Code, but if your site comes up for renewal, or you are approached over a potential new site, make sure you take professional advice to protect your interests.

PERMITTED DEVELOPMENT BOOST When the updated permitted development rights came into effect they offered a welcome boost for rural landowners.

Perhaps most noteworthy are the increased thresholds for agricultural to residential conversions. Elsewhere in the regulations, the size of new agricultural buildings that can be created through permitted development rights on larger farms has increased from 465 to 1,000 sq m.

The Government is also consulting on a revised National Planning Policy Framework (NPPF). This document is expected to be adopted shortly. Included within this is continued support for the rural economy and a new rural housing chapter that reinforces existing policy.

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BANKING FINES LEAD TO NEW HOPE FOR VETERANS Mesothelioma UK is improving care and treatment for all UK mesothelioma patients and their carers.

They successfully bid for a Government grant last year to establish a specialist information, advice and support service for armed forces veterans and serving personnel.

The funding came from fines levied on the banking industry for manipulating the LIBOR rate (London inter-bank lending rate). Proceeds from LIBOR fines are to be used to support good causes, in particular military and emergency services charities.

As part of the new service, a new Armed Forced Benefits Adviser has been employed to help clients navigate the complex system of claiming compensation and accessing benefits – a system that is different to that for civilians.

Mesothelioma UK is joining the list of agencies offering support to those attending the Veteran’s Outreach Support (VOS) drop-in sessions and hopes to reach many veterans to raise awareness of mesothelioma and the help that’s available to patients and families.

The charity is also attending Armed Forces and Veterans Breakfast Club meetings and events around the country and has set up a private Facebook group specifically for Armed Forces personnel and veterans. Members can chat and share experiences and relevant news and information is posted at www.facebook.com/groups/mesoUKarmedforces Mesothelioma UK is also working closely with the University of Sheffield on a programme of mesothelioma research and the team there have recently begun a study as part of the Supporting our Armed Forces project. The study aims to understand more about the patient experience of mesothelioma amongst British Armed Forces personnel. It will involve interviews with patients, families and healthcare professionals and will hopefully result in a better patient experience.

Mesothelioma UK relies entirely on donations and we are forever grateful to the wonderful supporters who run, walk, bake, shave heads and jump out of planes to raise money. We provide fundraising packs to anyone who wants to raise some money and take part in our annual fundraising events such as Grow a Mo for Meso, Muffins for Meso and a new one, Raise a Brow for Meso.

For more information about mesothelioma or Mesothelioma UK, www.mesothelioma.uk.com, info@mesothelioma.uk.com social media at Facebook: @therealmeso or Twitter: @MesoUK

Is your charity doing something innovative, enterprising or on the leading edge of the sector?

Then how would you like to be in with a chance to tell our readers about it, using the back cover of this magazine? Contact aheadofthecurve@roydswithyking.com for more details.