The economic fallout of Covid-19 – What happens when I cannot continue to meet maintenance payments?

Rebecca Cockcroft, co-head of family, Payne Hicks Beach, 26/06/2020

Since the UK was placed in lockdown on 23 March the impact on some businesses and, indeed, entire business sectors has been unprecedented. Hardest hit are the travel and hospitality industries but the impact of the Covid-19 pandemic has touched most sectors in one way or another.

Inevitably, many individuals have seen their income drop. Some have been furloughed under the government scheme. Others have taken voluntary reductions in pay at the behest of their employers. Others still have seen their income extinguished altogether. Bonuses are also under threat; the banking sector is turbulent, some magic circle law ...

Continue reading this article...

Start a free trial now for access to breaking news of the regulatory environment and legislative change happening in wealth management.

You are currently not logged in,
login to view the full article
start by clicking this button.

Need a subscription,
fill out the form here or
contact subs@eprivateclient.com

About PAM

PAM Insight is the world’s leading independent provider of essential specialist news, analysis and comparative data for the fast-evolving world of wealth management.

Read more about PAM


eprivateclient is the leading website and news service for private client practitioners, including lawyers, accountants, trustees and fee-based IFAs.

Read more