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More than 20% of businesses would be put under considerable financial strain if interest rates were to rise by one percentage point, according to a recent survey. The Business Distress Index was conducted by insolvency trade body R3, which interviewed decision makers at 500 businesses. The findings showed that 16% of businesses would be in
The government’s ‘right to rent’ scheme, which will require landlords to check the immigration status of tenants, will be piloted in Birmingham and the West Midlands from 1 December 2014. Landlords will need to check a tenant’s ‘right to rent’ before providing a property. This includes seeing evidence of identity and citizenship. Landlords will then
Nearly half of all working mothers would consider sharing their parental leave with their partners, according to a recent survey. The new system of Shared Parental Leave (SPL) allows the mother and father to share 52 weeks of parental leave and comes into effect on 5 April 2015. Mothers whose Expected Week of Childbirth (EWC)
In the light of new legislation coming into force on 1st October, the Law Society is urging people to consult their solicitor to check their will is accurate and up-to-date following changes made to inheritance laws. The Law Society highlight the fact that if you die intestate i.e. without having a valid will in place,
Late payment and cash flow remain two of the key problems faced by businesses in the UK, according to a recent survey carried out by credit card company American Express. The survey revealed that 95% of business owners and managers continue to prioritise efficient cash flow practices, and consider it a key factor towards long-term
A drinks company has been ordered to pay damages of £8m to a licensee following a breach of contract. The case involved a dispute over cordial and carbonated drinks. The parties had an agreement that the licensee could produce and distribute the products in Pakistan for a period of five years. The licensee spent a
The government is calling on businesses, unions and employees to help it ensure there are no loopholes in the law banning exclusivity clauses in zero hours contracts. Ministers fear some unscrupulous employers may try to get round the ban by methods such as offering contracts guaranteeing one or two hours’ work a week. The issue
A court has ruled that a tenant’s breaches of contract in relation to business premises were serious enough to justify the landlord’s decision not renew the lease. The case involved a landlord who owned a commercial and residential property. It was leased to a tenant with an agreement that it would be used as a
Two company directors have been disqualified after their firm breached the terms of an invoice discounting agreement (IDA). The company had entered into the IDA with the bank after falling into financial difficulty. The directors, one whom was the managing director, breached the IDA by re-aging some of the invoices to give the impression that
A company has been ordered to pay a consultant his fee for helping to negotiate a business deal, despite there being no written record of any agreement being made. The company was part of a Swedish industrial and transportation conglomerate. It had been working on a contract with the oil company Shell. The consultant was