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Bank Deposit Protection Rules for Businesses
In January 2010, new limits were announced for the levels of protection available for different investments underwritten by the Financial Services Compensation Scheme (FSCS). The FSCS protects the deposits of small companies, which are those which meet... -
Business Property Relief - Traps for the Unwary
Most business people know that for family businesses there are generous Inheritance Tax (IHT) reliefs, which generally operate to make assets used in the business exempt or partially exempt from IHT. The reliefs take various forms, but are collectively known... -
Buying from an Administrator - Take Care
With businesses becoming insolvent in large numbers, opportunities abound to acquire assets from their administrators. However, the low prices sought for the assets are due, at least in part, to the additional risk to the purchaser. Here are some of the... -
Changes in Law Relating to Gas Safety
Information for Landlords and Home Owners From 1 st April 2009 the Gas Safe Register will replace Corgi. By law, anyone carrying out gas work in your property must be on the Gas Safe Register www.gassaferegister.co.uk When the engineer... -
Collecting Your Debts - a Brief Guide
If a business cannot recover a debt from a customer after the normal credit control procedures are exhausted then it will need to consider taking further action to recover the sum due. Mediation with the debtor, involving negotiation through a third party,... -
Companies Act 2006 Overview
The Companies Act 2006 became fully effective from October 1st 2009. Here are some useful sources of information on the Act. For more information and advice on your circumstances, contact us. Companies House Overview . Changes In Effect from... -
Companies Act Model Articles - Think First
The Companies Act 2006 came into effect fully on 1 October 2009. One of the advantages of the Act is that it has made the incorporation of a company easier by creating a new and simplified set of model articles of incorporation. However,... -
Company Name Rules
On 1 October 2008, new rules relating to the registration of company names came into force. These allow companies to object more easily to the registration of a company name which could be confused with theirs. The new rules can be found on the website of... -
Company Disclosure Rules
The Companies (Trading Disclosures) Regulations 2008 came into force on 1 October 2008, making many changes to the requirements as to where and when company trading names, names of directors etc. need to be shown. The Statutory Instrument implementing the... -
Company Formation Checklist
You may have come across advertisements which make forming a company sound very easy, but before you go ahead there are some serious issues to think through. If you have decided that a company is the best vehicle for your new venture then here is a... -
Company Late Filing Fees
Companies filing their accounts after the due date are subject to late filing penalties which were last changed in February 2009. Private companies are required to file their accounts within 10 months of the end of the accounting period. Those that file... -
Considering Outsourcing
These days more and more processes are being outsourced (run by external contractors under a service agreement) by more and more businesses. It is particularly common to outsource IT functions and telephone call management. Outsourcing can offer many... -
Contractors Are Your Responsibility
A handbook produced by the Health and Safety Executive (HSE) outlines the responsibilities of both the contractor and the client in situations in which work is carried out by contractors rather then employees. It does not apply to circumstances in... -
EU - New Rules on Applicable Law
Where a dispute has a foreign element, one of the common problems is deciding under what jurisdiction legal action should be taken. This is avoided in many commercial contracts by specifying the applicable law in the contract, but in consumer contracts there... -
Employee Fraud
Employee fraud was a boom area even before the recession started. ‘Targeted’ frauds, often backed by organised criminals, are also becoming more common. In these cases, an employee (often using a stolen identity) is ‘planted’ in... -
Employee Fraud - Fraud Act 2006
Employee fraud continues to rise as the recession continues to bite - however, the Fraud Act 2006 provisions make it easier to obtain convictions for fraud a than was possible under the predecessor legislation. Under the Act, fraud offences are: ... -
Execution of Documents Under the Companies Act 2006
Section 44 of the Companies Act 2006 (CA06) came into force on 6 th April 2008 and was introduced mainly to reflect changes permitting private companies to exist without having a secretary. Under the CA06 documents may be executed by... -
Financial Fraud - What Not to Do!
With recent surveys showing that instances of employee fraud are still on the increase, and HMRC showing regrettable lack of ability to safeguard personal data, eliminating poor security practices which make fraud easier is becoming even more important.... -
Guide to Good Boardroom Practice
The Institute of Chartered Secretaries and Administrators have published an excellent and highly practical short guide (3 pages) to boardroom good practice, which will be of great interest to company secretaries and directors, especially non-executive... -
How To Do Strategic Review
Most businesses have some sort of business plan, even if it is only or a few lines on one sheet of paper. Larger businesses may have a formal business plan, which charts out the expected development of the business over the next few years in a systematic and... -
How does the Companies Act Affect Your Business?
The final provisions of the Companies Act 2006 (‘the Act’) came into force on 1 st October 2009 . The purpose of this document is to provide a very brief overview of the changes contained within the Act’s 1300 sections and how these... -
How to Avoid a Divorce and a Tax Bill
Did you know that transferring property to or from your partner attracts capital gains tax? For tax purposes a transfer between cohabitants is the same as a sale on the open market and attracts CGT in the same way – at 18% on profit;... -
It Wasn't in the Contract
A common problem in contract disputes is that matters that create disagreement are sometimes not referred to specifically in the contract. However, as well as the express terms of a contract, there are also terms that are implied that is, they apply without... -
Letters of Intent - Getting Them Right
What Is a Letter of Intent? Letters of intent, commonly referred to as 'heads of agreement', are used to indicate the terms under which two or more people intend to enter into a contractual relationship when doing business together. The term 'letter of... -
Limited Liability Partnerships
Limited liability partnerships (LLPs) were first introduced in April 2001 and are becoming an increasingly popular way of structuring a business, especially with professional practices. The big advantage of the LLP is that it allows the liability of...
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