Article Category: Corporate

Companies House Update: Automatic Extensions No Longer Granted

Automatic extensions no longer granted by Companies House

In recognition of the difficulties facing businesses at the beginning of the COVID-19 pandemic, Companies House announced in March 2020 that companies would be able to apply for a three-month extension period to file their accounts. Automatic extensions were then introduced in June 2020 to help relieve the burden on businesses, covering companies with filing… Read more »

Budget 2021: Capital Gains Tax and Corporation Tax on Businesses

Automatic extensions no longer granted by Companies House

Many experts had predicted that Chancellor, Rishi Sunak, would use the Budget as an opportunity to announce significant personal tax rises to address the dire state of the public finances following 12 months of Government intervention in the COVID-19 pandemic. However, personal tax rises were not forthcoming, though an increase to corporation tax was announced…. Read more »

Gamestop Phenomenon: Could This Happen Again?

gamestop phenomenon - photo showing graph of stocks

Stock markets are notoriously volatile and can be prone to rise and fall sharply based on nothing more than rumours. However, in the past few weeks we have witnessed a new phenomenon in the form of stock market manipulation driven by people on social media forums which could have significant implications in the future. What… Read more »

Final Opportunity for Preparing your Business for Sale?

man with a pen signing his expression of wish form

Recently, it was announced that the Autumn Budget would be cancelled as the government explained that they had taken the view that “now was not the right time to outline long-term plans given the ongoing COVID-19 pandemic”. Prior to this, it had been expected that the Chancellor would announce changes to the rates of capital… Read more »

Armchair Investors Targeted by Sophisticated Fraudsters

fraudsters attempting to conduct cyber crime

We have recently received reports from clients of a bogus shareholder scam in which fraudsters target members of the public holding shares in well-known blue chip companies. The clients have been contacted by telephone by someone who introduces themselves as an agent from a share brokering company, often based in New York or some other… Read more »

Success Story: Deal Agreed to save Iconic Music Retailer, Dawsons Music

75 jobs and the 120-year history of Dawsons Music has been saved after administrators agreed a deal with another music retailer. Husband-and-wife team Andrew and Karen Oliver, who own Manchester-based Alan Gregory Music and Musical Instruments, have bought the business with all of the staff transferring over. Andrew said: “I’m excited to be taking on… Read more »

The Bounce Back Loan Scheme – A Way for Small Businesses to Bounce Back?

Boris Johnson recently announced that, as part of the easing of lockdown restrictions, all non-essential shops across England may reopen from 15th June. However, this is subject to meeting the Government guidelines designed to protect shoppers and workers from the risk of infection. The announcement will be welcome news to many business owners, but for… Read more »

Changes to Companies House Strike Off Policy and Late Filing Penalties

Companies House has announced temporary changes to its strike off policy and approach to late filing penalties to support companies affected by the COVID-19 outbreak in meeting their legal responsibilities. The new measures include: Pausing the strike off process to prevent companies from being dissolved When a company makes a voluntary application for strike off,… Read more »

COVID-19: Holding an Annual General Meeting (AGM)

Although there is no longer any statutory requirement for private companies limited by shares to hold an Annual General Meeting (AGM) in the same way as public companies, they may still be required to do so by their existing articles of association, or still maintain the practice of holding them once a year. If they… Read more »

Covid-19 – Can Force Majeure in a Contract be Called Upon?

“Force Majeure” is a clause written into many contracts, which allows a supplier or customer to suspend its obligations under some circumstances. The Covid-19 virus has wide reaching ramifications for businesses, especially SMEs. Many companies are either implementing or hastily developing plans for employees to work from home or shut down for a period now that the disease… Read more »