The PSC or ‘persons with significant control’ register is a new statutory register which will effect UK Companies and LLPs from 6 April 2016 that will form part of the statutory books of the company. The register will contain details of ultimate beneficial owners and controllers, and details of company’s holding, which will ensure this information is available to the public.
The public availability of the register targets the Government’s objective to achieve transparency in the legal and beneficial ownership of UK companies, aiding the fight against tax evasion, money laundering and terrorist financing. Furthermore, the Government’s ‘transparency’ provisions are hoped to develop a climate of confidence amongst companies and consumers alike.
Although the possibility is often overlooked at the outset of a business relationship, disputes in the boardroom or between shareholders can arise for a wide variety of reasons. Once the battle lines are drawn, this kind of dispute can become hugely disruptive and expensive, so it’s important to do what you can to prepare for these situations in advance, and to act swiftly when problems begin to surface.
Factoring and invoice discounting (both forms of receivables finance) are useful cashflow sources in the commercial marketplace and used by many SME’s. Following the global financial crisis of 2008 and the previous “credit crunch”, the UK government has looked to facilitate and encourage alternatives to traditional bank-led sources of finance, particularly for SMEs.
Commentators on online privacy and data protection have long predicted a “tipping point”, where the public would finally realise the impact of sharing (and the growing economy based on) their personal data. In the information age where businesses, platforms and brands are targeted around the habits and demographics of their users, knowledge truly is power. The use of that knowledge and the data underpinning it has been taken increasingly seriously by legislators, leading to the original EU Data Protection Directive in 1995, reflected in UK Law by the Data Protection Act 1998.
Businesses selling on line should now be used to EU derived regulation applicable to on line sales. In the latest major change to the legal requirements for businesses selling on line since the introduction in 2014 of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, the European Commission’s On-line Dispute Resolution (ODR) site goes live to on-line consumers from 15th February 2016.
North West law firm Bermans is building on its record year last year with fee income totalling £1,331,221 for Q1 of this financial year, a 13% increase compared to last year.
The corporate team led by Jon Davage in Manchester has had a particularly busy start with the team advising on 11 transactions made up of 3 acquisitions, 5 disposals, 2 reorganisations and 1 private equity deal.
Law firm Bermans has announced a record turnover for the financial year 2014/2015 with turnover topping £5m – a 7 per cent increase on last year.
Bermans, which has offices in Liverpool and Manchester, has launched private client and commercial departments as well as growing its employment team during the period.
Hong Kong-based property development company G-Suite Holdings has acquired properties in Liverpool and Manchester as part of a £250m regeneration project.
G-Suite which also has an office in Manchester, recently acquired properties at 2 Moorfields and 35/37 Dale Street in Liverpool city centre and two properties in Middleton, Manchester. Both buildings in Liverpool will be extensively renovated in a £20m project to convert the properties into boutique apartments to then be sold to overseas investors.
There are many successful family businesses in the Merseyside region that have adapted to an ever changing world and continue to thrive under family ownership.
But are family businesses in danger of dying out? Previously, being born into a family business meant some or all of the children would become involved so that when older generations retired, there would be a ready-made team to take over the reins.
North West law firm Bermans says it experienced considerable growth in 2014.
The firm which has offices in Liverpool and Manchester provides a full range of commercial services as well a market leading national asset finance and invoice finance offering, secured significant new client wins as well as taking on new staff and adding new practice areas.
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