On 4 June this year, HMRC quietly updated its published guidance in relation to input tax recovery for defined benefit (DB) pension schemes. These changes to HMRC's internal VAT Input Tax Manual clarify an improved position for the way in which input tax on asset management costs can be recovered, but appear to make recovery of input tax on administration costs more difficult.

Travers Smith advised ProService Building Services Marketplace plc ("ProService") on its refinancing, comprising the issue of up to £25 million floating rate secured convertible loan notes due 2031 to Ravensworth (International) Limited and entry into a £35 million asset-based lending revolving credit facility with Leumi UK Group Limited.

The draft Commonhold and Leasehold Reform Bill was published in January 2026 and has been controversial from the start. One of its key aims is to cap ground rents in existing long residential leases at £250 a year from an implementation date in late 2028, reducing in 2068 to a peppercorn.  This follows from a previous consultation under the last Conservative government in 2023/24 which weighed up five different options for tackling excessive ground rents.

Travers Smith LLP has advised long-standing client IK Partners on the sale of Forthglade, a leading natural pet food manufacturer, to Assisi Pet Care, a leading UK-based producer of premium natural pet food and treats backed by Wind Point Partners.

Deloitte’s recent report predicts that global revenue generated by elite women’s sport will reach at least US$3 billion this year, representing a 25% increase on the 2025 figure. This highlights women’s sport as not only a fast-growing independent industry, but also a rich commercial opportunity, particularly for brands looking for new and innovative sponsorship arrangements.

On Monday 20th July 2026, the UK will have a new Prime Minister, the current Labour MP for Makerfield, The Rt Hon Andy Burnham.

From 1 October 2026, the UK government will significantly expand the scope of right to work ("RTW") checks for businesses. Introduced under the Border Security, Asylum and Immigration Act 2025, these changes will mean that responsibility for RTW compliance is no longer limited to traditional employment.

The sports industry is global, but the structures and economics couldn’t be more different on either side of the Atlantic. As industry leaders and professionals, understanding these nuances is crucial, especially as investment, innovation, and fan engagement accelerate in both regions.

Travers Smith has advised long-standing client Volex plc ("Volex"), a critical manufacturing partner to category leaders, delivering complex power and data connectivity solutions, on the acquisition of the remaining 64.3% of the issued share capital of Kepler SignalTek Ltd ("KST"), taking Volex's ownership of KST to 100%.

We are excited to share the inaugural NextGen M&A Annual Report on Technology & Innovation in M&A. The report features insights from Travers Smith Corporate M&A Partner Jeremy Dennison, Senior Consultant Dan McNamee and Legal Transformation Specialist Grace Kelly, as well as fellow sponsors Gallagher UK and Unity Advisory.

The UK's data centre sector is experiencing unprecedented growth, driven by the explosion in cloud computing, artificial intelligence, and digital services. The planning framework governing data centre development has evolved significantly to keep pace, with the Government introducing new designations and policy levers to accelerate delivery while balancing local concerns.

In one of the most hotly anticipated consultations of the year, on 14 July 2026, the UK Financial Conduct Authority (FCA) published its proposals for reforming the remuneration framework for UK solo-regulated firms.

The corporate reporting element of the Modern Slavery Act 2015 ("MSA") has been widely regarded as ineffective in driving real change in supply chain risk management. The regime requires large commercial organisations to publish annual slavery and human trafficking statements, but says remarkably little about what those statements must contain, imposes no deadline for publication, and has never been the subject of enforcement action.