TODAY’S HEADLINE

MANUFACTURING ENGINEERING

Great news for manufacturers in England who want to enter or expand their presence in the growing nuclear sector…

Developed by the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) and delivered in partnership with the Manufacturing Advisory Service (MAS), Fit For Nuclear (F4N) is offering grants of around £10,000 to companies that want to meet … [Read More...]

TURNAROUND AND INSOLVENCY

Changes to the petition level on bankruptcies – will this help or hinder?

Discussions have been taking place regarding the level of debt required before petitioning for bankruptcy. It has now been confirmed that the proposed level will be increased from £750 to £5,000 – this is the first rise in limits since 1986. It is expected that this rise will take place in October 2015 however this still has to undergo parliamentary scrutiny. The industry as a whole has been in agreement for some time that £750 is no longer appropriate so a rise was inevitable. However the jump to £5,000 is in my opinion too high and leaves creditors with limited options. Is it really appropriate that creditors may have to look at the small claims court to try to obtain payment if the debt is less than £5,000? Creditors have sometimes used the threat of bankruptcy to force the issue of payment with the debtor, and in some cases the debtor has the ability to pay but has failed to do so -  if creditors no longer have the threat of bankruptcy, does this reduce the sanctions … [Read More...]

MANUFACTURING ENGINEERING

Great news for manufacturers in England who want to enter or expand their presence in the growing nuclear sector…

Developed by the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) and delivered in partnership with the Manufacturing Advisory Service (MAS), Fit For Nuclear (F4N) is offering grants of around £10,000 to companies that want to meet industry standards and compete for work in civil nuclear. This £1.5m funding call has been unveiled to help manufacturers in England to enhance their presence in the nuclear world. It will allow management teams to drive business improvements in areas such as improved manufacturing processes, factory layout, bid writing, training plans and strategy. Manufacturers can apply for the funding to support R&D projects or develop new products, as well as accessing Nuclear ARMC’s workshop capabilities. All projects need to be completed by 31st March 2016 – firms are urged to apply as soon as possible. Backed by partners including Areva and EDF Energy, Fit For Nuclear will give manufacturers a clearer understanding of supplier expectations … [Read More...]

Taxation & Payroll

They think its all over… It is now! The CASC rules have finally been enacted

As an update to the long running saga of the changes to the rules on Community Amateur Sports Clubs, the legislation implementing the changes to the CASC rules announced by HMRC and, which have been consulted on for nearly two years, was enacted on 18th December 2014. The new legislation will come into force from 1 April 2015 and will require many clubs to alter aspects of their membership structure or structure for provision of facilities and services to both members and non-members. The new rules implement the key changes as had been expected and widely consulted upon, namely: The “Open to the Community” rules will require clubs, who have base membership fees of more than £520 annually, to provide new affordable membership options to persons on low incomes where that cost of participation will have to be less than £520 a year The “income condition” will require that clubs who generate more than £100,000 a year of turnover from trading income adapt their corporate … [Read More...]

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