10% CGT Tax Break for Directors, Entrepreneurs and Shareholders Reduced by 90%. 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… Read more »
The Public Sector Borrowing Requirement is calculated using Cash Accounting, which fails to differentiate between one off cash generation and cash from recurring cash generation. It is the Annual Government deficit and was definitely being significantly reduced pre-Covid. But perhaps not as fast as the official figures suggested. The UK Government uses cash accounting, which… Read more »
Introduction These are difficult times, most staff are feeling isolated from their friends, family and their workplace colleagues. They miss their colleagues, the workplace banter and the normally constant reassurance as to their fit and importance to the organisation. They are feeling anxious about their future, both health-wise and job-wise. It is of paramount importance… Read more »
Legally, according to the CA2006, NEDs and Executive Directors have exactly the same powers and duties. This is because the CA2006 defines a director as anyone fulfilling the role of a director, howsoever named. This broad definition is why Shadow Directors and De Facto Directors are classified as directors and hence in the event of… Read more »
Board Directors must by law participate fully in Board discussions. You have to “exercise Independent Judgement” under s173 of the CA2006 (Companies Act). You must also “exercise Reasonable Care, Skill and Diligence”, under s174 of the CA2006. You can only fulfil your S173 and s174 duties, if you pay proper attention to the subject being… Read more »
Directors stay in control under Covid Insolvency Laws. 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… Read more »
Leadership and Trust for Directors. 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… Read more »
Goodwill Accounting Changes impact Board performance, published profits and maximum dividends payable. UK Plc is damaged, yet again, by the overly rigid application by our UK 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… Read more »
Budget 2015 Pension Lifetime Allowance £1m. The new Pension Lifetime Allowance of £1m will mean that Directors, GPs and other Senior Executives with funds over the £1m value limit risk paying a 55% tax charge on the value of their pension fund in excess of the £1m allowance. Unless they have ring fenced their funds… Read more »
Pension Freedom Day is the 6th April 2015. The government has relaxed many of the rules surrounding pensions. Many more people will be able to directly control and invest/spend their entire pension pot. There is no government safety net, other than the very small State Pension, which cannot be invested in fast cars and other… Read more »
