The 20 day Moratorium process under the 2020 Corporate Insolvency and Governance Act, CIGA 2020, protects the company from new legal recovery actions by creditors. It can easily be extended for an extra 20 days. It leaves the board in control, subject to an independent Monitor. Previously such protection required passing control to an administrator… Read more »
Everything you could want or need; all in one place This is a round up and signposting of globally recognised reference sources of good corporate governance and ideas, to improve or expand your corporate governance practices. Each section consists of the heading, an explanatory introduction and a link, which is also the heading, to a… Read more »
During the period of fear, uncertainty and doubt created by the Corona virus the taxman took the opportunity to savagely and surreptitiously cut one of the most useful tax breaks for entrepreneurs and other significant shareholders. Previously, subject to meeting certain criteria, directors and shareholders could sell their shares and take advantage of the Entrepreneurs… Read more »
Leadership is about inspiring and motivating groups of people to achieve their best. To achieve this it is essential for directors to first create a trusting environment where people are not afraid to admit to and acknowledge mistakes and shortcomings. Team performance can often be changed for the better or for the worse, simply by… Read more »
Share Buybacks A Review for Directors This article is aimed at directors and board of directors, it is an overview share buybacks. It has also been published, in August 2020, on the Institute of Directors’ (IoD) website as a lead article their Governance section. Share buybacks are huge in the USA. They totalled $800bn per… Read more »
Directors of large companies must explain in their Strategic Report and on their website; how the board of directors of have fulfilled their CA2006 S172 duties to promote the success of the company for the benefit of the members as a whole, taking into account the interests of all the other stakeholders and the long… Read more »
UK Plc is damaged, yet again, by the overly rigid application by our regulators of EU rules. The accounting standard, FRS102, forces UK companies and their boards of directors to amortise all intangible assets through the annual P&L. However, those companies and directors operating under an IFRS accounting environment would not have to do this. IFRS… Read more »
The annual deficit is definitely being reduced, but perhaps not as fast as the official figures suggest. The UK Government uses cash accounting, which fails to differentiate between cash raised from the sale of assets such as the formerly state owned Royal Mail and cash raised from repeatable cash generating operations such as corporation and… Read more »
The new Pension Lifetime Allowance of £1m will mean that Directors, GPs and other Senior Executives will pay a 55% tax on the value of their pension fund in excess of the £1m allowance. Unless you have ring fenced your fund at the previous and higher allowance value. The trap for defined benefit pension schemes… Read more »
The government has relaxed many of the rules surrounding pensions. Fundamentally many more people will be able to directly control and invest/spend/blow (please delete mentally as applicable) their entire pension pot. There is no government safety net, other than the very small State Pension, which cannot thankfully be invested in fast cars and loose sarongs.… Read more »
