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New Legislation for Rentals — What You Need to Know as a Landlord

If you’re a landlord, you’ll know how fast the rules have been changing recently. It’s not over — several new laws and regulations have either been passed recently or are being considered. So what do you need to know? The Tenants Fees Act 2019 This received the Royal Assent in February, and its provisions will be applied from the beginning of June. Under the Act, landlords will only be permitted to ask for certain pa
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Keep Safe from Cyber-Crime

Early this month, BA issued an apologetic warning that their booking website had been hacked. Describing the incident as a “sophisticated, malicious criminal attack”, they admitted that customers’ credit card details had been stolen — including the CVV codes, suggesting an interception rather than harvesting data. BA is just the latest in a long list of major organisations that have suffered recent
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You Might Be Surprised Who the Biggest Tax Dodgers Are

Tax evasion and avoidance are big news these days, and most of us associate them with the multinational corporations and super-rich celebrities we read about in the news. But HMRC recently revealed who the biggest culprits are — SMEs. SME Tax Evasion HMRC estimates that they’re owed a total of £5.2bn in evaded tax payments, and of course those are only the debts they know about. Tax evasion, unlike tax avoidance, is
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Prompt Payment Directory Has Harsh Words For New Regulation

  It seems like every week new data surfaces about the struggle U.K. small businesses endure when trying to get paid from their larger corporate customers. Small suppliers across the globe are struggling with cash flow as businesses turn to extending payment terms to extend their own capital. In the U.K., regulators have taken note of the issue and have gradually made efforts to ease the financial pain for SMEs.
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Naming and Shaming London’s Rogue Landlords

The house has put the initiative in the rental market firmly in the hands of landlords, and while many act responsibly, there are enough exceptions to create a problem. A recent survey revealed that 60% of London’s private renters suffer from leaks, inadequate heating or infestations, with little choice but to put up with it. However, London is now set to take a leaf out of New York’s book and start naming and shamin
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Ban on Letting Agent Fees

In last year’s Autumn Statement, the Chancellor announced the Government’s intention to ban letting agents from charging fees to tenants. These charges, for everything from collecting references to administration costs, can add up to as much as £800, in addition to the deposit and rent in advance. This has been welcomed by tenants groups, but both landlords and some conservative MPs have expressed doubt about the pro
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Keeping Your Business Out of Trouble

We’ve all read it over the past few months, banks, phone companies, and goodness how many other institutions have been hacked. Daily scams are becoming the norm; and every day seems to add to the problems small businesses are facing, myself included. I have written before about protecting your business with contingency planning and I make no apologies for repeating my concern. Remember to check this on a regular basi
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Are your Terms & Conditions fit for your purpose?

The basis of all Contracts and written Agreements are all tied to Terms & Conditions; and at this time of year in particular, do you know your rights under the T & Cs of the goods and services you have purchased Accountants & Solicitors have Letters of Engagement, which are their Contracts and Terms, and they are governed by either the ACCA or the Solicitors Law Society. Many businesses belong to an assoc
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Clean-up pre-pack insolvency deals or we legislate, says minister

  Business minister Jenny Willott held the threat of legislation in reserve this week when she announced plans to clean up pre-pack insolvency deals intended to ‘make sure that businesses and customers get a better deal from failing companies’. She said the government would implement in full the recommendations of regulation expert Teresa Graham’s review of such deals. This was ordered by her boss, business secr
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Osborne ‘taxberg’ eclipses seizure powers of bailiffs

The powers of bailiffs to enter a property to seize goods where a debt has not been repaid are often exaggerated. But I’m equally sure that some less scrupulous bailiffs have played on debtors’ ignorance of what is and is not permitted. One of the ways in which the new regulation of the collections industry has brought clarity to both sides is in the clear statement of what is, and is not, permitted. You can read thi
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