Lupton Fawcett LLP - Openbrief » Corporate Finance

Time to consider your options

admin — Mon, 01 Jun 2009 09:55:17 +0000

Employers always need to keep their key staff because the health of the business often depends on them. In today’s tough economic climate, it is even more essential that staff turnover at the senior level is minimised to avoid disruption. Inflationary pressures also dictate that staff will want (and even expect) higher salaries [...]

Income tax and NIC Savings

admin — Thu, 30 Apr 2009 17:48:46 +0000

You’ve heard the Chancellor’s recent budget 2009 and it’s all looking a bit grey for the future. Income tax increases are projected and will be brought into effect in stages so that the Government can recoup some of the money it has ploughed into the economy. If you’re earning six figures, the news [...]

Charity Merger Fund to open in summer 2009

Lisa McClory — Thu, 12 Mar 2009 11:00:35 +0000

The Government has announced details of a £16.5 million fund aimed at encouraging voluntary sector organisations to merge and modernise. The move forms part of the larger £42.5 million action plan, ‘Real Help for Communities: Volunteers, Charities and Social Enterprises’, to assist third sector organisations struggling in the current economic climate. It also follows on from [...]

Financial assistance - private companies and the CA 2006

Andrew Francey — Wed, 19 Nov 2008 15:38:02 +0000

The prohibition on the giving of financial assistance by private companies was (other than in limited circumstances) repealed with effect from 1 October 2008 under the Companies Act 2006. The repeal resulted in there no longer being a requirement for private companies to follow the statutory “whitewash” procedure where financial assistance for the acquisition [...]

Company Names Adjudicator Rules 2008

Daniel McCormack — Wed, 12 Nov 2008 14:45:49 +0000

The Company Names Adjudicator Rules 2008 (“CNAR”) came into force on 1 October 2008. Under the CNAR an applicant can file an objection to a company’s registered name on the basis that it is either: (1) the same as the name of a company in which the applicant has goodwill; or (2) is so [...]

Directors and Conflicts of Interest – Changes under Companies Act 2006

Andrew Francey — Mon, 01 Sep 2008 15:45:30 +0000

Changes to the law relating to directors and conflicts of interest come into force on 1st October 2008 as a result of the Companies Act 2006 (the Act). The existing “common law” restricts a director from acting in a certain way if a conflict arises. However the new “statutory law” requires a director to act [...]

HMRC - Poynter Review

admin — Mon, 28 Jul 2008 10:18:30 +0000

Some of our readers may be aware that Her Majesty’s Revenue & Customs (”HMRC”) has recently been the subject of an external review by Kieran Poynter, senior partner of PriceWaterhouseCoopers, one of the UK’s leading accountancy firms. This was as a result of the fiasco surrounding HMRC’s loss of several data discs in October 2007 [...]

Directors’ long term service contracts – Companies Act 2006

Andrew Francey — Wed, 25 Jun 2008 09:39:39 +0000

The Companies Act 2006 introduced some significant changes to the law relating to directors’ long term service contracts. The changes included the following: Shareholder approval is now required for service contracts in excess of two years (as opposed to five years). Shareholders have the [...]

Company secretaries and the Companies Act 2006

Andrew Francey — Mon, 23 Jun 2008 14:22:19 +0000

The Companies Act 1985 required every company to have a company secretary. The Companies Act 2006 (with effect from April 2008) provided that private companies were no longer required to have company secretaries. The changes brought about by the 2006 Act do not prevent a private company from having a company secretary and it is [...]

Companies – new method of execution of documents

Andrew Francey — Mon, 23 Jun 2008 13:53:20 +0000

A new method of document execution was introduced by the Companies Act 2006 in April 2008. The new method allows a company to validly execute a deed or document where: it is expressed to be executed by the company; and it is signed on behalf of the company by a director in the presence [...]

EMI Options Update

admin — Thu, 15 May 2008 09:54:16 +0000

The Chancellor’s Budget 2008 makes changes to the UK’s regime for granting enterprise management incentives (known as EMI options) during 2008. These changes are welcome in certain respects but, as ever, the Chancellor’s sword is double-edged! On the positive side, prior to 6 April 2008, the market value of the [...]

Due Diligence

Andrew Francey — Fri, 07 Mar 2008 11:00:49 +0000

Due diligence is the process by which a buyer gathers information about a business which it is interested in acquiring. The process enables the buyer to establish as full a picture of the target business as possible. This will help the buyer to identify any risks associated to the business and also enable [...]