News and Updates
Latest Home Office Statistics for Illegal Working Penalties Published
The Home Office has released statistics on illegal working penalties totals for the UK from 1 October and 31 December 2016. There were 703 penalties were issued with total value of £11,595,000. All UK employers are at risk of incurring criminal and civil penalties for employing illegal workers. It is therefore essential that all UK…
Tax changes dropped from Finance Bill
Provisions to introduce Making Tax Digital have been removed from the Finance Bill and are therefore absent from the Finance Act, which received Royal Assent on 27 April 2017. Other provisions dropped include the tax-free allowance on trading income for self-employed people who earn £1,000 or less and the reduction in the tax-free dividend allowance.…
All new debt recovery protocol
orded to the financial statement. If a repayment proposal is rejected, written reasons must be provided to the debtor. If a debtor fails to respond, proceedings may be issued 30 days after the letter of claim. If a response is received but no agreement reached, the protocol states that the parties should ‘take stock’ of…
Business Transfer Checklist
We have produced in this Brief a Business Sale Checklist providing prospective sellers and purchasers a checklist of documents that will be needed to make the whole process that bit much smoother and less time-consuming. Whilst it would not be possible to produce an exhaustive checklist of each individual transaction, it is hoped that…
Government Funded Intellectual Property Audit
UK companies can receive up to £3,000 funding towards a full ‘IP Audit’ as part of Vince Cable’s Growth Accelerator initiative. Audits provide advice and support towards gaining and maximising the value of IP and help the business develop an IP strategy to take the projects to market. Typically the work involves, a visit or…
Business Acquisition Guide. Importance of Legal Due Diligence
It is important not to under-estimate the vital nature of a properly conducted legal due diligence process to the successful acquisition of a business trading as a going concern. Therefore this article is intended to give Buyers practical information on some of the legal investigations, typically referred to as due diligence, they should consider carrying…
Cross-Border Agreements – Jurisdiction Clauses
The business world is full of agreements between businesses and individuals. Whilst oral agreements can be used, most businesses will use formal written contracts when engaging in business operations. Written contracts provide surety in the form of a legal document stating the expectations of both parties and how negative situations will be resolved. When used…
Business Acquisition Guide
Getting Started Do your research and approach only reputable business transfer agents You may be asked to sign a Confidentiality Agreement. We recommend that you take legal advice before doing so You will need to view the target business and this is a great opportunity to gain as much background information and understanding about the…
Director’s Responsibilities
In our experience many directors can often be haplessly unaware of the obligations they owe to their companies and although the new Companies Act 2006 goes some way in providing a comprehensive list of the duties of a director, it is still incomplete. We have compiled the below a guide of the main duties any…
My Creditors Can’t Take Assets From My Company
If you are Oil Tycoon Michael Prest, then the above is not in fact the case. In a recent case Seven Supreme Court Justices unanimously allowed his wife’s appeal resulting in property assets being transferred from companies wholly owned by Mr Prest to his wife in order to partially satisfy a £17.5 Million matrimonial order…
