Archive for the ‘Uncategorized’ Category

Keep shareholders records up-to-date

Importance of maintaining company records

Small businesses face a near impossible task at times balancing the necessity to ensure revenues exceed overheads and in dealing with business red tape. It can be very difficult to assess priorities in terms of what is essential compliance wise. Often, corporate filings and company records can inadvertently slip down the list of “to do’s”, but it is important, and doesn’t take any appreciable time, to at least keep the register of shareholders up-to-date. There can be significant and unforeseen consequences of failing to do so, if there is a change and the new shareholders details are not promptly recorded.

The implications of failing to properly record a change in shareholdings can include :-

  • notices of meetings may be invalid
  • Decisions made at shareholder meetings may not be valid and legal

These are clearly important parts of running a limited company, so it pays to ensure company records are kept up-to-date and thankfully, this is not a particularly time consuming task.

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Posted June 27th, 2011 in Uncategorized |

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PAYE – Business start up survey

Start up survey on PAYE

A study by software company Intuit of some 50 start up businesses indicates that PAYE is a major consideration for them and tax return paperwork also causes major issues.  A few quick facts to come out of the survey :-

  • 2/3rds stated that PAYE is a major issue in taking on staff
  • Nearly ½ were unaware of the requirement for filing statutory PAYE end of year returns.
  • ¼ fully expect to be late in submitting the PAYE return

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Posted May 22nd, 2011 in Uncategorized |

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House sharing – econmically good sense but be careful

House sharing becoming more common

House sharing arrangements are becoming increasingly common according to research from easyroommate.com. Headline data from that research is worth noting :-

  • Number of couples willing to share with others has almost doubled in the last year.
  • Some 11% of house sharing is with a couple and others.
  • Renting a room in a property shared with housemates costs couples an average of £426 a month, compared with £687 to rent a house or flat on their own.
  • Economic conditions and lack of affordability for first time buyers are creating this niche market

In general legal terms, house sharing arrangements are no different from other residential occupancy situations. It is always worth bearing in mind, as a prospective landlord, the old adage that 2possession is 9/10 of the law”. Once you let someone into your property, it can be very difficult, lengthy and expensive to remove them, even if they stop paying rent or commit other breaches. This is an area where taking legal advice and undertaking as many practical checks is vital before taking in a lodger. It is definitely worth considering a bespoke house sharing contract also.

Posted May 20th, 2011 in Uncategorized |

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Breaking the law – no problem

Obeying the law – no longer necessary ?

It seems that the average person in the UK now consider it generally ok to break the law on a wide array of minor legal infringements. When we say, minor, the consequences, unintended, can be severe, especially in terms of traffic accidents. However, our perception is that minor infringements are not important. Is this a worrying sign ? In statistical terms, based on a survey of 3,000 adults :-

  • The average Brit breaks the law around 21 times a year
  • Speeding, eating or drinking while driving and not wearing a seat belt are the most common breaches.
  • Other common legal breaches are downloading music illegally, texting or chatting while driving, and cycling without lights.

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Posted May 13th, 2011 in Uncategorized |

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Hello world!

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

Posted February 8th, 2010 in Uncategorized |

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