Members of our team were jointly instructed by a housing association and a local authority to advise on setting up a joint venture.
Taking into account key factors such as public procurement, state aid, the regulatory requirements of both parties, tax (corporation, SDLT and VAT) and the funding model, our lawyers advised on the formation and structure of the two joint venture vehicles and the means of delivering the joint venture vehicle programmes.
This was an interesting project with two unique aspects. The first was the challenge of combining regulatory, charity, local government, state aid and procurement knowledge to develop a robust and safe legal structure. The second was to ensure that the bespoke corporate model could deliver joint venture programmes, commercially viability, value for money and tax efficiency.