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Protect your home from the fraudsters

andrew-koffmanOur lives are moving more online and sadly this has resulted in a rise in financial scams. A recent poll of over 2000 individuals by YouGov and Lloyds Bank found 10% of them had been the victim of a financial scam. Property transactions are particularly vulnerable, with high values involved and often time is of the essence. There are numerous cases where solicitors and sellers have been duped into sending the sales proceeds to fraudsters, or buyers have paid the purchase money to someone who was not the real owner.

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Locking in Human Capital (EMI Scheme)

jon_davageLocking in your key employees is always a balancing act between work life balance, remuneration packages and showing employees they are valued and part of the very fabric of the organisation.

One of the most effective ways of imbedding employees into your business is through capital ownership, which provides a shared goal towards exit and increasing value.

This is a powerful way to tell a key employee of their value to the business and can create an “in this together” attitude.

Such a structure creates rewards for all on a fair basis through the eventual sale of the business.

One of the most popular types of employee share option schemes with SMEs is enterprise management incentives (‘EMI’).

EMI schemes are a popular way of attracting and retaining employees and they can provide significant tax benefits.

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Big Changes for Private Sector Businesses in IR35

adrian_fryerBack in 2000, legislation was introduced to ensure individuals who operated as independent contractors but who worked like employees, paid broadly the same tax and national insurance contributions as employees. The ‘off-payroll working rules’ are commonly referred to as IR35. With around 900,000 contractors operating in this way, this legislation affected a not insignificant part of the workforce.

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Is Employee Ownership an Option for your Business?

robin-hastings-1-1What do Riverford, the organic vegetable box company, Richer Sounds, the hi-fi chain and Turleys, the planning consultancy have in common? Well, as from May 2019, they are or are about to become employee owned businesses with Julian Richer being the latest business owner to announce he is transferring 60% of his shareholding into an Employee Ownership Trust (EOT).

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Employment Law: Parental leave

adrian_fryerThe Court of Appeal has decided that it is not discriminatory for an employer to pay men on shared parental leave less than birth mothers on statutory maternity leave. The Court of Appeal looked at the issue in a series of joined cases, including Hextall v Chief Constable of Leicestershire Police. In all the cases, men claimed direct or indirect discrimination for being paid less for shared parental leave than a woman on maternity leave.

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Invoice Financiers and the Financial Ombudsman Service

On 1 April 2019 the jurisdiction of the Financial Ombudsman Service (“FOS”) was extended to include additional categories of eligible complainants such as more SMEs and individual guarantors of loans. The FCA has also indicated that it intends to increase the limit of an award which can be made by the FOS under its compulsory jurisdiction scheme from £150,000 to £350,000, probably sometime later in 2019.

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Funding Credit hire and Credit repair

The Credit hire and credit repair industries and ancillary services provided to claimants in “no fault” accidents have traditionally been regarded as challenging sources of business for invoice financiers, but there are signs that financiers are becoming more comfortable with the risks involved.

It is fair to say that these industries have over recent years been subject to a number of measures by the Government in attempts to reduce overall insurance premiums, but they continue to display a sense of innovation.

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