The Charities Act 2006 was introduced to make life simpler for trustees, to provide more safeguards for them and to bring the definition of 'charity' up to date. General The Act defines a charity as a ‘body or trust which…
In a recent case, a builder who included a contractual term which reduced his liability in tort (i.e. for a civil wrong) found this was sufficient to defeat a claim brought by a customer. The builder had constructed a house…
Charities will soon be able to take advantage of a new type of corporate vehicle that will lift the current burden of dual regulation Complex avoidance schemes and the use of non-resident income sources have been subject to sustained attack…
Charities will soon be able to take advantage of a new type of corporate vehicle that will lift the current burden of dual regulation At present charities can be set up with a corporate structure (ie as a limited company)…
Anti competitive agreements: small businesses can be caught too A recent competition law case saw a group of Dutch telecoms companies fined heavily by the European Court of Justice for anti-competitive behaviour, following nothing more than a meeting between them…
Minority shareholder wins £400,000 payoff It is rare to see a petition under the Companies Act seeking to prevent the payment of excessive remuneration to a director, but a Scottish Court had to deal with just such a case earlier…
Hidden deep in Mr Darling's PBR last week, where only sad tax advisers would find it, was a government promise to tackle banks and building societies that levy 'unfair' charges. Setting aside for a moment the natural cynicism associated with…
Share options: the low cost alternative to a pay rise When cash is short, small and medium-sized businesses should consider using share options as an alternative to a pay rise or a cash bonus. An approved share option scheme needn’t…
Controlling shareholder can be employee The Court of Appeal has confirmed that a shareholder and director of a company can also be an employee under a contract of employment with the company, even where that person has a controlling interest…
Make Sure Your Bank Knows You Under the Proceeds of Crime Act 2002 (POCA), a bank is required to inform the authorities about any transaction that it suspects might be connected with money-laundering or the proceeds of crime. Whilst the…
