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Entrepreneurs can be very confident about how to build up a business but then become surprisingly unsure about how to hand it over to the next generation. This can lead to problems because there are several issues to consider. For example, will family members be able to take over…will you need to hand over to
Restrictive covenants are a useful way to protect your business from competition from employees who may leave to join a rival company. They work in various ways such as preventing an employee from competing with your business for a set period or within a set area, or by preventing them approaching your clients for a
Estate agents have been warned that they could be breaking the law if they reach agreement with rival firms about which websites to use for property listings. The Competition and Markets Authority (CMA) has contacted some agents it suspects may already be in breach and has written an open letter to alert others to the
Employers no longer have to make National Insurance contributions for apprentices under the age of 25. The change came into effect on 6 April and applies to both new and current apprenticeships. It will produce a saving of about £1,000 a year when employing an apprentice earning £16,000 a year. The government says it is
An accountancy firm has been granted a restraining order against a former employee who had persistently brought spurious legal claims that were bound to fail. The case involved a woman who worked for the firm for two years before resigning in 2006. She then brought five employment law claims, 10 money claims plus claims against
The changes to stamp duty have saved homebuyers £657m in just over a year, according to the latest government figures. More than 780,000 people have benefited across England and Wales. The changes, which came into effect in December 2014, introduced more gradual increases in stamp duty rates. Under the previous system, the duty was a
Companies in the UK must now have a register of ‘People with Significant Control’ to provide greater transparency for consumers and other businesses. The register should include basic information about who owns or controls the company, including their name, month and year of birth, nationality, and details of their interest in the business. A person
Several new regulations affecting landlords have now come into force. These are some of the most significant: Tenant right to request energy efficiency improvements Tenants can now request consent from their landlord to install energy efficiency improvements in the property they rent. The landlord cannot unreasonably refuse consent, as long as the requested improvement is
Inheritance tax receipts are set to increase by more than 20% this year, according to the Office for National Statistics. The latest figures show that death duties are on track to bring in £4.6 billion in the 12 months to February. That compares with the £3.8 billion for the same period last year. Rising house
The government has announced plans to build 200,000 starter homes for first time buyers under the age of 40. It’s part of an overall plan to build a million homes by 2020. Ministers say the figure will be achieved by ensuring that 1 in 5 homes are starter homes on developments of more than 10