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Lawrence Stephens completes over £33 million worth of transactions in pre-budget sprint

Posted on: November 28th, 2025 by Alanah Lenten

November was an exceptional month for Lawrence Stephens, culminating in an intense surge of activity ahead of the Chancellor’s budget announcement. Pre-budget market speculation prompted many clients to accelerate their transactions to avoid potential negative impacts. This created significant pressure on our teams to complete deals within very tight timeframes.

In the days leading up to Rachel Reeves’ announcement, our teams successfully completed transactions worth over £33 million. Notably, our Corporate and Commercial team alone closed seven transactions the day before the budget, including five acquisitions, one sale, and a share restructure, totalling in excess of £15 million. Meanwhile, the Commercial Real Estate team responded to concerns about possible capital gains tax changes by completing £16.5 million worth of deals, including the sale of two industrial investment properties and the purchase of a mixed-use building.

Jeff Rubenstein, Head of Corporate and Commercial, commented:
“I am incredibly proud of how our team rose to the challenge. We have built a department designed to thrive under pressure, and this achievement shows the strength, resilience, and expertise we bring to every transaction.”

Stephen Messias, Director in Commercial Real Estate and a Lawrence Stephens founding partner, added:
“The scale and complexity of the work completed in such a short timeframe is a testament to the capability of our team. Delivering a number of challenging transactions under these circumstances required precision, collaboration, and unwavering commitment to client objectives.”

These achievements were made possible through exceptional collaboration with all stakeholders and a relentless focus on meeting client requirements under challenging circumstances. November’s success reflects not only the strength of our expertise but also our ability to deliver outstanding results when it matters most.

Leigh Sayliss Contributes to the Chartered Institute of Taxation on High Value Council Tax Surcharge

Posted on: November 27th, 2025 by Ella Darnell

Leigh Sayliss, Director and Head of Tax at Lawrence Stephens, is the chair of the Chartered Institute of Taxation’s Property Taxes Committee.

Following the budget announcement his comments were published here on the 26 November 2025.

Full text below:

New surcharge will add more complexity to property tax system

Commenting on today’s announcement of a high value council tax surcharge in England, Leigh Sayliss, chair of the Chartered Institute of Taxation’s Property Taxes Committee, said:

“This measure adds further complication to the current complex system of property taxation. There are already nine main taxes1 that you have to consider if you own property.

“Council tax is usually levied on the occupier whereas this tax will be payable by owners, including owners holding property indirectly through companies or trust structures, meaning that different people may taxed in relation to the same property.

“No tax is popular with those who have to pay it, and dry tax charges2 such as this tend to be especially unpopular.

“A key question is whether ownership of a valuable property is being treated as a proxy for ability to pay as some who will receive a bill will be ‘asset-rich, cash-poor’ pensioners.

“Just because a house has high value does not mean the owner has significant equity in the property. Longer mortgage terms have become more common. Asset-rich, cash-poor individuals who have built up a deferred mansion tax alongside a mortgage could find themselves stuck when they might have otherwise downsized.  Particular attention will need to be given to deferral arrangements and the interaction with mortgages and lenders’ willingness to lend.

“Using a banding system, similar to that used for the Annual Tax on Enveloped Dwellings (ATED), will reduce the numbers of arguments on the value of properties as there will only be sensitivity where property values are close to a rate boundary.  However, it should be noted that the proposal includes the same ‘double inflationary’ measure that is included in relation to the ATED – each year the rate of the tax will increase by CPI and, as property prices increase, properties will move up into higher rate bands.

“When ATED was introduced, it only affected properties valued in excess of £2m – but then the threshold was reduced to £500k. This raises the question as to whether there is a risk of a similar “scope creep” in relation to this tax, once the principle has been adopted.

“It is welcome that the government has decided to delay the implementation of the charge until 2028, and that there will be consultation on the charge early in 2026 on the details of the reliefs and exemptions, the design of an appeals system, and the deferral and support mechanisms available. From an administrative perspective, a new tax, even if notionally tagged on to council tax, needs time and resource to set up in terms of guidance, collection, appeals process, etc.”

Notes

  1. Council tax, stamp duty land tax (land transaction tax in Wales and land and building transaction tax in Scotland), annual tax on enveloped dwellings, income tax, corporation tax, capital gains tax, inheritance tax, VAT and national insurance.
  2. A tax liability that is payable without any money generated to pay for it.

Lawrence Stephens announces the launch of LS Private

Posted on: November 11th, 2025 by Alanah Lenten

Lawrence Stephens is proud to announce the launch of LS Private, a new multi-family office platform established to provide professional services that enhance and complement the firm’s tailored legal advice.

Designed for entrepreneurs, first-generation wealth creators, and family principals with complex or cross-border interests, LS Private delivers independent governance, oversight, and operational support to protect family capital, simplify decision-making, and strengthen control. Acting as a single point of accountability, LS Private coordinates the full ecosystem of legal, financial, and personal affairs ensuring that every adviser, asset, and decision is aligned.

The venture is led by John Russo, who brings more than fifteen years of experience advising and managing ultra-high-net-worth families and businesses. Before founding LS Private, John created and led the single-family office for one of the UK’s most prominent families, overseeing legal, financial, operational, philanthropic, and reputational matters across a portfolio exceeding £1 billion. Clients value John as a discreet and decisive operator who combines legal precision with real-world execution. His focus is on delivering three outcomes for principals and their offices: stronger governance, structures that work in practice, and the swift resolution of complex issues. John also serves on the Board of Directors of the Royal Philharmonic Orchestra and as a Trustee for The Diana Award.

Steven Bernstein, CEO of Lawrence Stephens, commented:

“Our clients are entrepreneurial and often managing growing personal and family complexity. LS Private extends our ability to help them beyond legal advice – providing the independent governance and trusted oversight needed to safeguard family capital and reputation. With John’s expertise, we can support both newly formed and established family offices in navigating the strategic and operational challenges that accompany wealth.”

John Russo, Managing Director of LS Private, added:

“I’m delighted to build LS Private with the backing of Lawrence Stephens. Having led single-family offices from inception, I know the difference that disciplined governance and effective coordination can make. LS Private brings that experience to others. Helping families, founders, and their advisers turn complexity into clarity.”

Visit LS Private

LS Private is a wholly owned subsidiary of Lawrence Stephens Ltd. and is not regulated by the Solicitors Regulation Authority.

For further information, please contact: Daryl Atkinson.

Lawrence Stephens Advises Fashion Retailer GARAGE on Their First UK and Flagship Store on Oxford Street, London

Posted on: November 11th, 2025 by Ella Darnell

Lawrence Stephens has advised fashion retailer GARAGE on their first UK and flagship store on the world-renowned Oxford Street, London.

Founded in 1975, GARAGE is a Canadian fashion retailer with a strong presence across Canada and the United States, operating over 230 worldwide store locations. The brand is known for its youthful, trend-driven collections that cater primarily to younger women.

GARAGE’s expansion into the UK marks a significant milestone in the brand’s international growth strategy. The Oxford Street store is not only GARAGE’s first and flagship store location in Europe, but also a strategic move that places the brand at the heart of London’s retail scene. Oxford Street is one of Europe’s premier shopping destinations and London’s busiest street, thus the flagship location will allow the brand to quickly build brand visibility and connect with a diverse, high-footfall audience.

The deal is indicative of renewed confidence in brick-and-mortar retail, particularly in prime shopping destinations. It may serve as a signal for other North American fashion retailers to test the UK market, suggesting the potential of a wider trend of cross-Atlantic retail expansion.

The Oxford Street letting was led by Director and Head of Retail Nickhil Mandora and supported by Sophie Levitt. This adds to Lawrence Stephens’ growing portfolio of high-profile retail clients, which includes brands such as Carolina Herrera, Arc’teryx and Salomon. We are delighted to support GARAGE in this new chapter and look forward to seeing the brand thrive in the UK.

Nickhil Mandora added:

“We are delighted to have acted for GARAGE on their introduction to the UK market. The female fashion market in the UK is particularly strong and is no doubt strengthened by the entry of such a well-established North American brand, who already have a cult following here. Oxford Street, London, is the perfect home for GARAGE and we look forward to strengthening our partnership with them on their expansion within the UK.”

You can read more about the Retail team and their services here.

Daniel Baker Joins Lawrence Stephens‘ Sports and Entertainment Team

Posted on: November 3rd, 2025 by Ella Darnell

We’re pleased to announce that Daniel Baker has joined Lawrence Stephens as a Senior Associate in our Sports and Entertainment team.

Daniel joins us from Guildford-based law firm Moore Barlow where he was co-founder and co-head of their Sports Law group. He has developed a reputation for handling complex sports-related commercial dispute resolution, sporting governing body disciplinary and regulatory proceedings, advising in respect of employment / safeguarding issues and general commercial advice and support to clients within the sports sector both in the UK and overseas.

He is experienced in handling all types of sports litigation matters and has represented elite-level coaches, high-profile clubs and organisations in the sports sector. In acknowledgement of his expertise, he is recognised as a “Leading Associate” in the Sports Law category of the latest edition of the Legal 500 directory.

Mohit Pasricha, Head of the Sports and Entertainment team, commented: “We’re delighted that Daniel has agreed to join us. He has an excellent reputation, brings with him significant specialist knowledge and a wide network of relationships. His industry focused dispute resolution expertise helps deepen and widen our bench, enabling us to take on the more complex and challenging work for which we are becoming known”.    

For more information on the Sports and Entertainment team, please click here.

Building a Digital Economy: Matt Green’s Contribution to techUK’s Vision

Posted on: November 3rd, 2025 by Ella Darnell

Matt Green, Head of the Blockchain and Digital Assets sector at Lawrence Stephens and Chair of the techUK Digital Assets Group, has been instrumental in developing their “2030 Vision- A roadmap for Building a Digital Assets Economy”, which launched on 16 October.

Designed to share insights on current and anticipated use of distributed ledger technologies, the Vision 2030 draws on perspectives from across the Blockchain and Digital Assets ecosystem – from across Layer-1 chains, professional advisors, to financial houses, blockchain forensic software providers and beyond – identifying the opportunities that will help strengthen UK’s position as a global financial hub, a centre of innovation and a market where technology is used for good.

In recent years, regulators, policymakers, and governments have each mapped their digital ambitions. The UK Digital Strategy 2017 highlighted the economic benefits of digital skills, while the 2022 update focused on establishing the UK as a leading technology hub. More recently, the UK International Development’s Digital Development Strategy 2024–2030 signalled a broader digital transformation of society. This was reinforced in the Chancellor’s Mansion House speech earlier this year, which committed to “drive forward developments in blockchain technology… so that UK financial services can be at the forefront of digital asset innovation.”

The 2030 Vision brings together industry views on where we are today, where we are heading, and what is needed to ensure that by 2030 the UK is not just adapting to change – but leading it.

To read the report, please follow this link.

You can read more about our Blockchain and Digital Assets services here.

Shaping the Future of Cannabis Regulation

Posted on: October 17th, 2025 by Ella Darnell

At this year’s Global Cannabis Regulatory Summit, Ricardo Geada, Director at Lawrence Stephens, played a central role as moderator of the high-profile panel “From Policy Idea to Program Implementation: Overcoming Legal, Financial, and Political Barriers to Unlock Global Cannabis Reform.”

Joined by leading voices in the sector, including Andy Cutbill (CEO, Cutbill Jacoby Communications), Sir Mike Penning (former UK MP and Minister of State), Shawn Hauser (Partner, Vicente LLP, USA), and Nick Morland (CEO, Tenacious Labs), Ricardo steered a focused and candid conversation on the structural barriers facing global cannabis reform.

Following the discussion, Ricardo and Andy collaborated on a white paper summarising the key insights. These takeaways highlight the urgent need for clarity, coordination and targeted reform.

  1. Legislative Lag: When Legalisation Falls Short
    Although medical cannabis has been legal in the UK since 2018, the reality is far from functional. Sir Mike Penning highlighted how patients, including children with severe epilepsy, are still struggling to access treatment on the NHS due to outdated regulation. One critical example is the failure to exempt government-issued licences from the ‘proceeds of crime’ provisions in POCA. This oversight puts compliant operators at risk of criminal penalties.

    In the US, state-level legalisation is undermined by federal prohibition. Despite guidance from FinCEN, banks are hesitant to serve cannabis businesses due to regulatory uncertainty, as Shawn Hauser explained. Nick Morland also pointed out that a simple legislative fix to POCA in the UK could unlock investment and operational growth.

    Ricardo identified that legalisation is not the end goal. Without practical legislative support, the industry will continue to stall.

  2. Interdepartmental Incoherence: A Fragmented System

The panel revealed a fundamental disconnect between UK government departments. While the Department of Health and Social Care regulates cannabis-based medicinal products, the Home Office and police still treat cannabis under legacy drug policies. This creates confusion and harm. For instance, some patients have had their prescribed medication confiscated or faced arrest.

Nick Morland summed up the issue neatly, stating that you only get “seven lines” to make your case to a policymaker. Clarity and alignment across departments is essential.

Ricardo and Andy concluded that true progress will only happen when government departments share the same goals, processes, and language.

  1. Missed Opportunity: Global Capital Blocked by Local Barriers

There is no shortage of capital ready to enter the cannabis market, but both UK and US systems present unnecessary obstacles. In the UK, banks have closed accounts for licensed cannabis businesses, fearing POCA penalties. This forces operators to run cash-only businesses, raising costs and reducing transparency.

Ricardo noted that other jurisdictions, such as Jersey, have introduced sensible exemptions that protect both compliance and access to finance. In the US, businesses face a federal tax rate of over 70%, while banking restrictions push many into the informal economy.

Rather than sweeping change, Ricardo argued that precise, well-targeted regulatory adjustments could have a powerful impact. Investment is ready, the system just needs to catch up.

  1. The Way Forward: Practical Recommendations
    The white paper also outlines a clear set of recommendations aimed at turning regulatory intent into commercial and public health reality. Highlights include:
  • Amending POCA in the UK to exempt government-issued licences from criminal liability.
  • Passing the SAFER Banking Act in the US to protect financial institutions that work with state-legal cannabis companies.
  • Developing standardised quality benchmarks for medical cannabis, drawing on the European Pharmacopoeia monograph.
  • Introducing harmonised compliance protocols and KYC checklists to help financial institutions confidently support the sector.
  • Creating a UK Medical Cannabis Fund to subsidise NHS prescriptions and collect clinical data on cannabis treatments.
  • Encouraging regulatory pilots that bring together banks, businesses and policymakers to trial compliance solutions in controlled environments.

    All recommendations are deliberately concise, designed to give policymakers the “seven-line” answers they need.

Conclusion: A New Framework for THC

As Ricardo concluded during the panel, the cannabis sector needs a new kind of THC—Transparency, Harmonisation and Collaboration. A genuine framework for progress.

The key message from Ricardo and Andy’s white paper is that the cannabis sector doesn’t need to wait for perfect reform. It needs practical, coordinated steps that unlock access, encourage innovation and attract investment. If regulators, financiers and the industry can work in sync, the cannabis market can finally deliver on its promise to patients, entrepreneurs and the wider economy.

For access to the full white paper or guidance on navigating the cannabis regulatory landscape, contact Ricardo.

Lawrence Stephens Ranked Band 1 in Chambers UK 2026 SME Guide

Posted on: October 16th, 2025 by Ella Darnell

Lawrence Stephens is proud to announce its ranking in Band 1 in Chambers UK 2026 SME-focused Firms category. This ranking illustrates our commitment to and excellence in the owner-managed business (OMB), founder-led and SME sector.

This recognition builds on our appearance in last year’s guide and is yet another milestone in the firm’s strategic focus in supporting fast-growth businesses and entrepreneurial clients.

Chambers describes us as being “deeply involved in the SME and entrepreneurial ecosystem”,  a reflection of the work we do every day. We advise clients across a broad range of sectors on incorporation, commercial contracts, commercial property, employment, funding rounds, and M&A transactions.

Jeff Rubenstein, Head of Corporate & Commercial, commented:

“This ranking is a fantastic endorsement of the work we do every day with ambitious SMEs and founders. It reflects our deep understanding of the challenges and opportunities in this space, and our commitment to delivering commercially astute, founder-friendly advice.”

Steven Bernstein, Managing Director, added:

“Being recognised in Band 1 by Chambers UK is not just a win for our firm but confirms our position as the go-to firm for SMEs and OMBs, and builds on our work with FEBE and FOUNDXRS Club to shape a bold, founder-first narrative for Lawrence Stephens.”

Our clients said:

“Lawrence Stephens have a very pragmatic and solutions-driven approach. They are great at keeping the client’s interests at heart and have the ability to distil and simplify complex matters.”

Supporting the SME community

Our SME-focused initiatives and partnerships are designed to empower founders, entrepreneurs, and owner-managed businesses at every stage of their journey:

  • Championing SME growth

    We are proud partners of FEBE, where we collaborate with some of the UK’s fastest-growing businesses to foster innovation and growth. We also regularly work with the Foundxrs Club, helping visionary founders turn bold ideas into thriving enterprises.

  • Tailored Resources for Entrepreneurs

    Our quarterly newsletter, The Fineprint, is crafted specifically for OMBs, founders, and entrepreneurs offering insights, legal updates, and practical guidance to help businesses stay ahead.

    We also created Flourish, our dedicated offering for start-ups, designed to support founders from day one through scale-up and eventual exit.

  • Trusted Legal Advisers to Leading SMEs

    We’re proud to advise a range of dynamic businesses, including:

    • Activate Group Limited, in its acquisition by Elysian Capital.
    • Ansor LLP, where we are the go-to firm for mid-market portfolio transactions, supporting their strategy of acquiring and combining profitable SMEs in high-growth sectors.
    • Genuine Dining, on its acquisition by WSH.
    • FMS Foils limited on its sale after we did the company formation over 25 years ago.
    • HFMC Wealth on various acquisitions.
    • M&A Coachworks, on its sale to The Steer Group.
    • Scutum Group UK in connection with the purchase of a number of alarm maintenance and monitoring SME businesses in the UK.

Whether you’re launching a start-up, scaling a growing business, or preparing for a strategic exit, Lawrence Stephens is here to help you navigate every step with confidence.

Learn more about how we can support entrepreneurial businesses here.

Lawrence Stephens Advises on Sale of FMS Foils Group to WZ Packaging

Posted on: October 15th, 2025 by Ella Darnell

We are proud to have advised on the sale of the entire issued share capital of FMS Foils Group Limited to WZ Packaging Limited, marking not just a successful transaction, but a significant milestone in a client relationship that has spanned more than 25 years.

FMS Foils Group has been a valued client of Lawrence Stephens since 1998, when Jeff Rubenstein, Head of Corporate and Commercial, first began advising the business shortly after joining the firm. Over the decades we’ve had the privilege of supporting the Group and its shareholders through every chapter of their journey, from formation and growth to this successful exit. This enduring partnership is a testament to the trust our clients place in us and the strength of the relationships we build.

The acquisition by WZ Packaging brings together two leaders in aluminium flexible packaging, positioning the combined group for continued innovation and global expansion.

Our Corporate and Commercial team provided end-to-end legal support throughout the transaction.

Jeff Rubenstein, Head of Corporate and Commercial, commented:

“It has been an honour and a privilege to work alongside and support FMS Foils Group for over 25 years. This transaction reflects the value of long-term client relationships and the importance of consistent, trusted legal guidance. I’m incredibly proud of the trust David and Paul have placed in us over the years, it’s been a true partnership.”

David Watson, FMS Foils Group, added:

“Jeff and the team at Lawrence Stephens have been with us since day one. Their advice has always been clear, commercial, and deeply supportive. We couldn’t have asked for better legal partners on this journey.”

Read more about our Corporate and Commercial services.

Lawrence Stephens Advises Maidenhead Aquatics on Acquisition of New Nottingham Store

Posted on: October 15th, 2025 by Ella Darnell

Lawrence Stephens has advised fishkeeping and aquatics supplier Maidenhead Aquatics on the acquisition of their new store at 66 Castle Boulevard, Nottingham. This strategic move marks a consolidation of the company’s presence in the city and reinforces its position as an industry leader. 

Founded in 1984, Maidenhead Aquatics has evolved into the UK’s premier destination for fishkeeping and aquatic supplies. With over 130 stores nationwide and a well-established online platform, the company is continuing to expand its footprint. With the acquisition of the new store in Nottingham, Maidenhead Aquatics is further strengthening its presence in the region and displaying their commitment to growth in the aquatics sector. 

Supervising Partner in the Commercial Real Estate team, Matt Hind added:

“We are delighted to have acted for Maidenhead Aquatics on this transaction.  From start to finish my colleague Mo has been instrumental in driving this deal for Maidenhead Aquatics. He has done a terrific job at delivering a successful result for the client and supporting them in their expansion.”

Solicitor Mohammad Hammoud commented:

“Maidenhead Aquatics now have a large new location where they can continue their excellent work and growth in the historic city of Nottingham. Their growth is a testament to their commitment to being the best in the aquatics business and I look forward to seeing them thrive in their new store.”

Sam Kent, a Partner at Maidenhead Aquatics commented:

“Working with Mohammad Hammoud at Lawrence Stephens to get this acquisition completed has been so efficient. Complex issues were dealt with, explained fully and communication was outstanding throughout. I wouldn’t hesitate to use Mo in the future.”

This deal was handled by Mohammad Hammoud and assisted by James Parker. To read more about the Commercial Real Estate team and their services, please click here.

Lawrence Stephens Advises HFMC Wealth on a Series of Strategic Acquisitions

Posted on: October 13th, 2025 by Alanah Lenten

Lawrence Stephens advises top 100 UK IFA HFMC Wealth on a series of acquisitions as part of its ongoing consolidation strategy in the financial services sector. Our Corporate, Banking, and Property teams collaborated seamlessly to ensure smooth and efficient transactions.

The firm has completed a handful of key transactions for the  business over recent years:

The acquisition of R&S Financial Planning, a wealth planning business, adding £145 million to HFMC’s assets under advice.

The acquisition of Harford Financial Limited, a specialist mortgage brokerage.

The acquisition of Generic Financial Management, contributing an additional £150 million in assets under management.

The acquisition of Weston Cummins Limited, a wealth planning firm, adding a further £350 million in assets under advice.

These acquisitions significantly expand HFMC Wealth’s national footprint and reinforce its position as a leading independent financial adviser (IFA) in the UK.

We also advised HFMC Group in connection with a multi-million pound refinance of its existing loan facilities with Thincats Loans Limited to support their ongoing acquisition strategy.

Reflecting on the deals, Jeff Rubenstein, Head of Corporate and Commercial, expressed his pleasure in working with HFMC on these acquisitions. He commended the exceptional performance of our team and witnessing HFMC’s ongoing growth.

Phil Patient, Group COO of HFMC Wealth, commented:

“We are thrilled to continue a strong year of acquisitions for HFMC and to continue working with the crucial assistance of the team at Lawrence Stephens, who handled the transactions swiftly and with the utmost professionalism and attention to detail.”

These transactions reflect Lawrence Stephens’ continued commitment to supporting clients in the rapidly evolving financial services and IFA landscape.

Senior Associate Ona Proctor Joins Lawrence Stephens’ Expanding Real Estate Finance Team

Posted on: October 10th, 2025 by Ella Darnell

We’re pleased to announce that Ona Proctor has joined Lawrence Stephens as a Senior Associate in our Real Estate Finance team.

Ona is a bilingual Korean real estate finance and commercial real estate lawyer with over 10 years’ experience advising Korean and international banks, asset managers, and institutional investors. Ona joins us, having previously worked at several international law firms, most recently gaining experience at Howard Kennedy LLP and Osborne Clarke LLP.

Her practice focuses on investment and secured lending across a wide range of asset types, including hotels, retail parks, care homes, and education facilities. Ona also has extensive experience managing cross-border transactions for Korean clients.

Ona’s appointment follows the recent hire of two new directors in the Real Estate Finance team, marking a significant time in the team’s expansion and strategic development.

Ann Ebberson, Director and Head of Real Estate Finance, commented:

“Ona’s arrival marks a significant step in the expansion of our Real Estate Finance team. Her technical ability, international experience, and deep sector knowledge will be invaluable to our clients and our growth.”

For more information on the Real Estate team and their services, click here.