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Asset Finance: Dealing with Broker Commission Refund Claims

In our last Briefing we reported on the Court of Appeal decision on broker commissions in Wood v Commercial First Business Ltd and the rather surprising decision of the NACFB in recommending that “both regulated and unregulated firms, working in all sectors, should be transparent about their commissions and fully disclose the amount of commission received”.

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Asset Finance: Fraud in the Arena

With the industry still reeling from revelations emerging from the demise of a certain Lessee, and taking into account the sensitivities of referring to any of the specific current or forthcoming matters in which we are instructed, we thought it might be worthwhile making some general remarks on steps which Funders may wish to consider to prevent being the victims of serious fraud going forward.

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Managing international business visitors without risk

Neil Gouldson

Neil Gouldson

As the World starts to open up again, we look at what you need to consider if your business has employees in other countries who are visiting the UK to work.

Business travel across borders, and even within them, pretty much stopped in 2020 and 2021 due to the Covid 19 pandemic. As travel restrictions are being lifted, businesses have the opportunity to allow employees to travel and international business travel is on the rise.

Employers need to take some time to refamiliarise themselves with the relevant rules around immigration and employment tax before they accept a visit from an overseas employee to ensure compliance.

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SME debt is a ticking time bomb

Pat Haver

Pat Haver

Recent independent studies undertaken by the Legal Services Board and Xero convey a worrying and consistent theme that SME debt is a ticking time bomb.

UK SMEs are losing more than £40 Billion per year through disputes and have £131 Billion tied up in late payments. YouGov has reported that 82% of SMEs currently have outstanding balances with each firm owed an average £62,957.00.

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Get your ecommerce business ready for online sales

Madeleine Byron

Madeleine Byron

Ecommerce has seen remarkable growth over recent years, especially during lockdown, and is changing the landscape of how people buy and sell goods and services. The growth in ecommerce is shifting activity away from the high street to digital means, which in turn is changing the way businesses operate. In addition, the popularity of marketplace platforms, such as Amazon and Facebook, has made this growth even more noticeable.

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Unlimited Holiday Entitlement

Adrian Fryer

Stockbrokers at London firm FinCapp have decided to give their employees unlimited holiday entitlement. After a bumper 6 months for workload and profit, the business has decided to introduce the policy to guard against staff burn out. The move will flip the standard holiday policy on its head – instead of a maximum limit, the company will instead introduce a minimum level of holiday for employees. Staff will be required to take a minimum of 4 weeks off per year and a few days per quarter to ensure they get regular breaks.

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Whistleblowing

Adrian Fryer

An employee has the right not be subjected to detriment by their employer on the ground that they made a protected disclosure. In deciding whether treatment is done ‘on the ground’ of making a protected disclosure, the tribunal must decide whether the protected disclosure was a material factor in the employer’s decision making but it does not have to be the sole cause. It is possible to distinguish between treatment which results from a protected disclosure and treatment which occurs because of something else instead – the manner in which a disclosure was made, or something that was done at the same time as the disclosure or even something which is a consequence of the disclosure rather than the disclosure itself. Sometimes it will be possible to separate the disclosure from these other things but the case of Fitzmaurice v Luton Irish Forum has shown just how much care an employment tribunal must take in applying the legal test to the facts of a case.

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