As 2015 dawns, if you are thinking of selling your business this year, what are some of the things you need to know? What are the issues that we are currently seeing affecting transactions and how do you avoid those issues?
Progress towards implementation of the £1.13 billion Glasgow and Clyde Valley City Deal seems to be gaining momentum this week with the appearance, on the Public Contracts Scotland website, of an advert by Renfrewshire Council, one of the participating local authorities* for services connected with the Glasgow Airport Investment Area project – Lead Consultancy (Multi Disciplinary Services, Roads & Bridges).
The Department for Business, Innovation and Skills (BIS) has published updated guidance on calculating the national minimum wage (NMW). The guidance is intended to assist employers comply with their obligation to pay employees the NMW where applicable. The guidance now includes a new section on the family member exemption and the guidance has been updated regarding the position for those required to sleep between duties.
Pensions have been in the news again this week, following the replacement of the UK’s longest serving Pensions Minister, Steve Webb, with the equally respected pensions campaigner and industry expert, Ros Altmann. Altmann’s appointment has been welcomed by the industry, and she has already made some encouraging remarks about carrying on Webb’s good work in ensuring that there are good quality workplace pension schemes available throughout the UK.
The Inner House of the Court of Session has upheld a decision of the court of first instance on the interpretation of sections 6 and 9 of the Prescription and Limitation (Scotland) Act 1973 and, in particular, the meaning of the expression “relevant claim” in an action for damages against Shetland Islands Council (SIC) by the operators of Shetland Airport, Highland and Islands Airports Limited (HIAL).
The Fitness to Practise Panel of the Medical Practitioners Tribunal Service (MPTS) handed down a judgment resulting in the medico-legal practitioner Mr Titus Odendun being erased from the Medical Register. This case is of particular interest since, following his retirement, Mr Odendun had taken up a career as an expert witness, acting predominantly in personal injury cases. The problem is that Mr Odendun had embellished some of his qualifications and credentials when acting as an expert witness. A legal firm specialising in insurance litigation south of the border carried out an investigation into Mr Odendun’s qualifications and passed the evidence to the General Medical Council which brought the case to the MPTS.
Once the owners of a business have overcome the obstacles that lie in their way to the exit door, what is actually involved in going through that door?
In 2013 the EAT decided in a case involving numerous redundancies from various Woolworths stores,
that an employer had to count all proposed dismissals across all local units or “establishments” in assessing whether or not the collective redundancy consultation requirements applied. This decision came as a surprise to many employers, since it was a departure from previous case law and significantly increased time and costs for employers involved in redundancy processes.
On 29 April 2015 The Insolvency Service of the UK Government published updated insolvency statistics which include a breakdown of insolvencies that occurred in 2014 across various industry sectors including the construction industry. There are separate tables of statistics for England and Wales and for Scotland.
The construction industry statistics are subdivided into three main areas of construction industry activity being (1) construction of buildings, (2) civil engineering, and (3) specialised construction activities. These three categories are then subdivided further providing more detail on the types of activities being undertaken by the insolvent companies.