UK

CASH-FLOW AND DEBT RECOVERY IN UNCERTAIN ECONOMIC TIMES

Just today, economists at Citi, the American bank, have forecast that the rate of UK inflation will peak at 18.6% in January 2023. This has serious ramifications for business and individuals alike. With wages simply unable to keep pace with the soaring rate of inflation, individuals will have less disposable income to spend on new purchases and to pay off existing debts. This is why companies should be alert to the looming crisis and ensure that they have robust cash flow management and debt recovery procedures in place, especially as we head into winter when the impact of the crisis will be worst. Read more…

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Economic Crime Prevention & Compliance, London

These are trying times for compliance, risk and legal professionals.

Against the backdrop of major military conflict in Europe, and the UK Government’s acknowledgment of economic crime being a “high and constantly evolving” multibillion-pound problem, it is evident that money laundering, sanctions evasion, ransomware attacks and bribery are coming back in ways and forms that have never been predicted.

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SINGLE-USE PLASTICS… NOT FANTASTIC

Just in time for plastic free July, Scotland has become the first part of the UK to ban many single-use plastics.  The legislation, The Environmental Protection (Single-use Plastic Products) (Scotland) Regulations 2021, came into force on 1 June 2022.

The legislation makes it unlawful for businesses to commercially make and supply: cutlery (forks, knives, spoons, chopsticks and other similar utensils); plates; beverage stirrers; food containers made of expanded polystyrene; cups and lids made of expanded polystyrene. There is an exemption for plastic straws to ensure that those who need them to eat or drink independently or for medical purposes still have access to them. Read more…

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SCOTTISH GOVERNMENT CONSULTATION ON PERMITTED DEVELOPMENT RIGHTS

The Scottish Government have launched a consultation on permitted development rights in relation to planning law. Amongst other things they are seeking views on permitted development rights for pavement seating adjacent to hospitality premises.

Pre-pandemic, licensed premises generally required planning permission for outdoor seating, especially on the pavement areas although the approach did vary across the country. Since Covid19 however, on the recommendation of the Chief Planning Officer, no enforcement or limited enforcement has been taken against those utilising these temporary outdoor seating spaces. This approach is due to come to an end in September 2022. Read more…

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PRONOUNS AND GENDER IDENTITY IN THE WORKPLACE

Pronouns are the way we refer to one another’s gender identity, for example he/she/they. Using a person’s chosen pronouns in the workplace is a basic courtesy and everyone deserves to have this respected in the workplace. Therefore, pronouns and gender identity are important considerations for employers when maintaining a positive and inclusive workplace. Read more…

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SAVE THE DATE: THE UPCOMING DEADLINE FOR REGISTERING TRUSTS WITH HMRC

The Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations 2017 introduced a requirement that trustees of trusts which have a tax liability (such as Inheritance Tax, Capital Gains Tax, Land and Buildings Transaction Tax etc) register specific information about their trust with HMRC – e.g. the names and dates of birth of the Trustees and Beneficiaries, contact details and the National Insurance Number of the lead trustee etc. Registration is completed online through HMRC’s Trust Registration Service (TRS) and it is the responsibility of the trustees themselves to identify whether their trust requires to be registered. Read more…

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CHANGING RETAIL HABITS: THE END OF AN ERA FOR TRADITIONAL SHOPPING

The impact of COVID-19 has undoubtedly accelerated a shift in consumer behaviour towards online shopping. This increase has resulted in an unprecedented time for traditional shopping centres like Buchanan Galleries and the St Enoch Centre, with many shoppers now opting to do the majority of their shopping from the convenience of their own home.

The impact of COVID-19 has undoubtedly accelerated a shift in consumer behaviour towards online shopping. This increase has resulted in an unprecedented time for traditional shopping centres like Buchanan Galleries and the St Enoch Centre, with many shoppers now opting to do the majority of their shopping from the convenience of their own home. Read more…

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NEW BUILDS: THE PROS AND CONS OF BUYING A NEW BUILD PROPERTY IN TODAY’S MARKET

Some like shiny new homes. Some don’t. While everyone’s taste differs, demand for properties is so high at present that many potential buyers cannot afford to be overly picky and perhaps require to use their heads more than their hearts. If we leave all predilections at the door, what are the pros and cons of buying a new build property in today’s market? Read more…

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START THE NEW TAX YEAR WITH BETTER DEBT RECOVERY PROCESSES

The new tax year began on 6th April 2022, and while you may not have made any ‘new year, new you’ promises, perhaps it could be time to sort out your business finances. It can be easy to let things slip – a late invoice, a missed payment and even an unpaying customer or client. However, when all of these add up, it can have a catastrophic effect on your cash flow and the longevity of your business. We look at simple steps you can take to improve your debt recovery processes. Read more…

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WHAT’S NEXT IN DIVERSITY AND INCLUSION? A MOVE TOWARDS ‘INCLUSIVE BRITAIN.’

Following the events of 2020 and in light of the hugely notable Black Lives Matter movement the UK Government recognised that action ought to be taken to address some significant disparities and injustices within the United Kingdom.  While the Government stated that they felt that there had been many advances in addressing these it was noted that more could be done.  With that in mind, the Commission on Race and Ethnic Disparities (the Commission) was formed with the goal of looking at ways to resolve racial and ethnic inequality within the United Kingdom.

In March 2021 the Commission produced a report setting out a not less than 24 recommendations for creating a greater level of equality within the United Kingdom.  This month, the Government produced their response to that report titled ‘Inclusive Britain.’ Read more…

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