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Scopulus Business Newsletter - 18-09-08


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Dear Subscriber

In this issue:

  • Business News
  • Tax tip
  • Business tip
  • Legal tip
  • Legal news
  • Articles watch
  • Website updates

Business News

Major airlines are going bust, Major Banks are going bust and the housing market has and is predicted to plummet. We keep
hearing that the economy has not seen these types of event happen so close together and it has been predicted by experts that
this is going to be a year of recession (as if we did not know it).

But the economy is still working, people still go to work even though the economic climate is changing rapidly and we all
need to adapt to the change. This may be the time to take stock of what we have and use it wisely. Not just to survive but to
invest in the future. Yes, that’s right, the economy runs in cycles and how we act now will dictate how long and short the
cycle is and how we personally will fare in the future. Take for example Northern Rock. If there was not a run on the bank
there would have been a better chance of the bank recovering. Short term thinking and the media caused a panic which at that
stage was not warranted.

Let’s not keep on making the same mistakes. Now is the time to prepare and work for the future. Nothing stays the same…Things
keep changing and moving and stopping is what causes the rot. Keep positive in a crisis and you are more likely to ride the
wave. If nobody spends then the economy is dead, so spend, but spend wisely. After all we all work and live in the same boat
(HMS UK) and all our collective attitudes determine her course. Keep your head!

Tax Tip

Want a new suit, some shirts or blouses for the ladies or any item of clothing... Yes you can have it and its tax free to
you. That means that you do not pay PAYE or NI on the clothing but the business must pay for the items direct. There is
however an additional cost to the employer as they will have to pay Class 1A NICs and it goes in on your p11D and p9D.

Speak to your accountant first to get it right. Another perk to keep yourself and the troops happy.

Business Tip

Getting to work, getting home. Yes were talking about public transport and in particular the trains and tube that most of us
rely on to travel to and from work. But is it working, are there delays or engineering work on your particular journey. This
little gem (tool) can keep you up to date especially with the tubes so if you need to take a different route then you can
plan with confidence. Tube Status.

Don't expect people to be at work on a national holiday. Check here first, National Holidays.

Legal Tip

With the credit crunch and the general downturn of the economy. Conducting new business can be risky. One way other than
factoring to guarantee your payment is to get the other companies directors to guarantee the amount. You can get one here
Directors Guarantee Letter.

Legal News

From the 1 October 2008 employers’ liability certificates can be displayed in electronic format with the proviso that all
employees have reasonable access to it. i.e. a copy on the companies intranet. Also the requirement to retain copies of their
certificates for 40 years will be removed.

Also the next stage of the implementation of companies act will start on the 1st October 2008. (Speak to your accountant)

  • Objection to Company Names – Sections 69 to 74
  • Trading Disclosures – Sections 82 to 85
  • Corporate directors and under-age directors – Sections 155 to 159
  • Provisions relating to the directors’ ‘conflicts of interest duties’ – Part 10
  • Share capital reduction through the solvency statement route – Sections 641 to 644
  • Control of political donations and expenditure, provisions relating to an independent candidate – Sections 362 to 379
  • Power of court to grant relief in certain cases – Section 1157
  • Restoration for personal injury claims of companies dissolved prior to 16 November 1969 - Section 1295 of the 2006 Act,
    and Schedule 16 (repeals)
  • Repeal of the restrictions on financial assistance for acquisition of shares in private companies – Sections 151 to 153
    and 155 to 158 (1985 Act)
  • Changes to the requirements of annual returns (1985 Act)
  • Limited Liability Partnership changes to bring accounts content in line with the company regulations.

    Quoted from companies house.

Articles watch

This article is timed well and is all about management, stability and being prepared.
The Credit Crunch and how to survive it - Business Articles

See what the big boys are doing and why. There is always room for improvement especially from the leaders.
Best Practices - What Great Companies Are Up To

Website Update

  • Opening up a new section for CPD training courses, events, workshop and seminars from the professional bodies for you
    to keep up to date and expand your skill sets. Will be launching soon. Can see a preview at the bottom of the sitemap.
  • In conversations with the Treasury and HMRC concerning the Money Laundering Regulations they were very helpful in
    explaining all possibilities and consequences so we now know how to support the process and are in negotiations with
  • We have added a few more tools in the useful tools section to assist you.

Kind Regards
The Scopulus Articles Team

Online Business Resources, News Portal, Company Formation, Legal Documents, Accounting software, Books, Business jargon explained, Tax, Articles, Government links, etc. All from trusted experts in their field of expertise.

About the Author

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Article Published/Sorted/Amended on Scopulus 2008-10-03 09:52:03 in Newsletter

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