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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...
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In December 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...
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The Government provides guidance for businesses on complying with the Bribery Act 2010 , which came into force on 1 July 2011. The Act was originally scheduled to take effect in April 2011, but its implementation was delayed to allow the final version of...
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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 have been collectively...
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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...
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The Companies Act 2006 became fully effective from October 1st 2009. It is the principal source of law relating to the conduct of companies incorporated in England and Wales. Companies House publishes useful information on the Act. See the website....
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Since the Companies Act 2006 came into effect, the incorporation of a company has been straightforward as the Act provides an easy to use set of model articles of incorporation. However, before you rush off and buy an ‘off the shelf’...
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You cannot incorporate a company using any name you like. Some names are prohibited (for example, those which suggest a connection with the Government or the Crown) and names will not be allowed if they are too similar to the names of existing companies. It...
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The Companies (Trading Disclosures) Regulations 2008 set out the the requirements as to where and when company trading names, names of directors etc. need to be shown. The Statutory Instrument implementing the changes is both short and straightforward. In...
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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...
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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...
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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...
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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: ...
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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...
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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....
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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...
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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...
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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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Prior to the recession, Retention of Title (RoT) clauses probably received less attention than they should have from many businesses. However, RoT is now back in the spotlight. An effective RoT clause will normally allow you to recover the goods you have...
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Money laundering is the process by which criminals turn their 'dirty' income – which is usually earned in cash – into 'clean' money, by undertaking transactions which hide the original source of the cash and/or turn the cash into 'legitimate...
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Every business needs customers, but every customer, especially a new one, represents a risk to your business. It is a very serious issue but there are many things you can do to make sure that you increase your chances of getting paid. Clearly, the...
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The Information Commissioner’s Office offers guidance for small businesses on how to comply with the Data Protection Act 1998 (DPA) when you outsource the processing of personal information, such as your payroll function or customer mailing...
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Having the right contract is always a good idea, but no matter how much protection it offers, no contract can prevent a breach of contract by the other party. If you enter into a contract and it is breached, there are several possible remedies available to...
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It is arguable that the whole point of any business should be to enable the owners to retire when they want and with the lifestyle they want on retirement. Of course, enjoying it as you go along is a good idea too, but retirement comes to most of us...
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The Health and Safety Executive (HSE) has published a ‘ step by step plan’ for businesses for protecting the health and safety of workers and others . The key recommended actions are: 1. Register a new business with the appropriate authority...
