11/07/2011

Murdock's big BSkyB deal may be referred to the Competition Commission

Jeremy Hunt, the Culture Secretary, is taking further advice with regard to Rupert Murdock's attempt to gain control of BSkyB with a view to referring the deal to the Competition Commission.  This is seen as an attempt to slow things down, many people believe that the deal should not even be considered until after the police investigation into the News of the World "hacking" scandal has concluded.

The Competition Commission is in place to prevent too much control being gained by one organisation and reducing the consumer's opportunity for choice.  In the past heavyweights like Rupert Murdock have depended on their forceful attitudes to gain the upper hand leaving the consumer at a disadvantage.  It is to be hoped that common sense will prevail in this case.

29/06/2011

Employers may be wise to accommodate parents caught by the teachers strike

Employers of parents affected by the planned strike by teachers tomorrow would be well advised to take a supportive line regarding the ad hoc day off that many parents will be forced to ask for.  A high percentage of the employees affected will be covered by the right to unpaid time off for dependents, a provision designed to provide flexibility when faced with an emergency breakdown in childcare.

There are a number of options that employers may suggest to assist their staff who are placed in this situation through no fault of their own.  Employees could be permitted to take a day from their annual leave or they could be allowed to work from home, alternatively they could swap shifts with a colleague or possibly make up the time lost by working outside their normal working hours.

Employers who refuse to allow staff to take the day off and them attempt to discipline those who take unauthorised leave may find themselves embroiled in a legal issue.

 

 

16/06/2011

Pasta is the world's favourite food

The BBC reported that a global survey conducted by the charity Oxfam has discovered that pasta has now become the world's favourite food, putting it way ahead of meat, rice and pizza.

Pasta is big business and global sales figures indicate that the world spends £10 billion on pasta.  Italy leads the world in production at 3.2 million tonnes per year with the US coming second at 2.6 million and Brazil third with 1.3 million, even Russia produces 858,000 tonnes.

Pasta's long shelf life, versatility and cheapness contribute to its popularity coupled with the relative ease that it can be mass produced.

TMA Legal has advised several pasta restaurants on a variety of transactions.

16/06/2011

Tax Treaty Discussions Revived

Hong Kong based luxury fashion house Prada IPO's struggle to attract investors may kick start the revival of the tax treaty discussions between Italy and Hong Kong.  It is widely considered that the high Italian taxes are responsible for the feeble response by retail investors, at 12.5% in a country noted for its low tax regime and unused to taxes such as capital gains, investors are looking elsewhere.

KPMG's tax partner, Ayesha Lau, pointed out that if both the buyer and seller are out of jurisdiction the Italian authorities face a problem when trying to enforce the taxes.  It would appear to be in everyone's best interests to get a double tax agreement in place.  The Chinese appetite for high-end luxury goods has created a far wider market for fashion houses like Prada and similar brands and they will be keen to ride the wave.

Prada are looking to float 20% with the intention of repaying debt and opening new stores.  With 95% of Prada's shares in the hands of Miuccia Prada and her husband Patrizio Bertelli the company will still be firmly under their control.

06/06/2011

The Insolvency Service is Feeling the Pinch

It has been announced that the fee payable for petitioning for bankruptcy has risen to £525 plus the court fee.  The fee goes towards the £1,715 cost of administering the bankruptcy process.  Graham Horne, the head of the Insolvency Service, point out that there is an obligation to strike a balance between the debtor's debt relief, the creditor's need for some return and the Insolvency Service's duty to break even.  The overall fee is not being increased just the proportion that needs to be paid in advance.

Mark Sands of RSM Tenon feels that the additional costs will heap stress on already stressed individuals possibly leading to depression and there will be large numbers of people unable to consider bankruptcy as a way out due to the prohibitively expensive up front fees.  This will leave many people floundering in debt with no obvious way out.

 

25/05/2011

Battle of Rights - Privacy -v- Freedom of Speech

The rise and now possible fall of the so called super injunction by high profile individuals seeking to hide their transgressions seems to be turning into a battle of "rights".  Which will prevail?  Freedom of speech, one of the most significant platforms for democracy or the protection of privacy for an individual?

The vast majority of people jealously guard their privacy but unfortunately the actions of media hungry wannabes who delight in revealing the minutiae of their lives including the most private bits of their private lives appears to have fuelled an unsavoury feeling of entitlement amongst the public to know and comment on every aspect of the lives of the "famous" intruding into every aspect of their lives. 

Conversely transparency is a powerful weapon in keeping those in high office on the straight and narrow.  Should say, a Minister of the Crown or a captain of industry demonstrate their unsuitability to be in his or her post by either appallingly bad judgement or even criminal behaviour it is palpably not in the public interest if journalists have the gaffer tape of a super injunction firmly across their months.

The courts are faced with a challenging balancing act to weigh the potential harm caused to innocent parties such as any children of a family against society's clarion call for truth and transparency.

 

 

24/05/2011

Lloyds forced to dispose of even more assets to create rival

The current stand-off between George Osborne, Chancellor of the Exchequer and Antonio Horta-Orsorio, Chief Executive of Lloyds Bank makes it extremely likely that a Competition Commission investigation will ensue.

Antonio Horta-Orsorio's implacable refusal to consider disposing of "...even one extra branch..." in compliance with the Independent Commission on Banking's recommendation for a "...substantially enhanced divestiture..." on top of the 600 branches Lloyds is already in the process of selling in response to the European Commission.  Mr. Osborne, however, is inclined to accept the recommendation which is designed to provide a viable competitor to the existing big five banks.

Mr. Horta-Orsorio is of the view that the Independent Commission on Banking has failed to grasp the scale of the assets Lloyds are being obliged to dispose of and those close to him maintain that he will not budge.  It seems that Mr. Horta-Orsorio enjoys the full support of his colleagues.

Most businesses will welcome a new player as in a difficult climate competition will help to focus all the banks' attentions on providing a good deal for their customers.

10/05/2011

Judicial Diversity Taskforce Reports

Following the recommendations of the Advisory Panel on Judicial Diversity published in February 2010 a Judicial Diversity Taskforce was created to oversee the implementation of its recommendations, the Taskforce has published its first annual report.

There are 53 recommendations in the report.  One of the most significant is that "...there should be a fundamental shift of approach from a focus on individual appointments to the concept of a judicial career.  A judicial career should be able to span roles in the courts and tribunals as one unified judiciary..."

It also suggests that Judges and members of the legal profession should engage with schools and colleges to ensure that students from under-represented groups understand that a judicial career is open to them.  Also that support should be available for suitable candidates from under-represented sectors.

14/04/2011

SME's employment law lifeline may contravene European law

The measures announced by Mark Prisk, the Enterprise Minister, in a keynote speech at the Federation of Small Businesses which are intended to ease the red tape regulatory burden for the small businessman were warmly welcomed by the Federation's chairman, John Walker, who pointed out that "...Regulation is one of the most burdensome and complex issues for small businesses..."

The possibility that the government may be considering relaxing employment law requirements for companies with fewer than ten employees in relation to parental leave produced a collective sigh of relief from SMEs.  However there may be a cloud on the horizon as the proposal to remove parental rights from some workers and not others may fall foul of European law.  Furthermore small businesses will struggle to attract the best talent if employees find that there is a two tier employee rights system.

SME's account for nearly 60% of all jobs and over half the UK's economic output; there are also a surprising 4.6 million "micro" businesses with ten or fewer staff.  Such small firms will always struggle with the lengthy loss of a member of staff whilst on parental leave.  This could result in "micro" businesses avoiding employing staff that they think may start or add to their family and embracing the raft of older workers who are obliged to work on into what would have been their retirement years.

29/03/2011

Ugo Tanda was a guest speaker at a conference in Milan

Ugo Tanda was a guest speaker at a successful conference in Milan addressing the real estate market and the banking sector on the advantages, the risks and maximising current opportunities.

The conference was very well attended by all the leading bankers and property professionals and offered the delegates considerable food for thought as to how the real estate sector can be influenced to deliver an advantage in the current climate.

 

28/03/2011

The Best place to start a business is in START UP BRITAIN

At the launch of "Start Up Britain" David Cameron told would be entrepreneurs that "now is the time" to launch their business.  Believing that there are large numbers of individuals, at present, unaware of their destiny who are going to form the next generation of entrepreneurs Mr. Cameron said "I believe we can make this decade one of the more entrepreneurial decades in our history.  If you've been dreaming about starting up the next great British brand - now is the time to make it happen"

Despite the government's strong backing for start up business and Mr. Cameron's endorsement at the launch Start Up Britain is not a government programme but is organised by a group of entrepreneurs.  Mr. Cameron says that Britain's recovery has to be private-sector led and that there is only so much the government can do to kick-start enterprise.

If all goes to plan Britain really will be the best place to start a business, but none of this matters unless individuals come forward and take up the opportunities.

23/03/2011

Budget 2011 Impact on Business

• Growth forecasts are down
• Government aims to make Britain the best place to start a business
• Borrowing to fall in 2011 and 2012
• Chancellor to consider merging NI and income tax
• Inflation likely to remain at 4% -5%
• Corporation tax to be cut by 2% in April and a further 1% for the next three years making it the lowest in the G7
• Confirmation that SMEs will be exempt from new regulations
• 43 tax reliefs to be scrapped as part of the simplification of tax code
• Radical overhaul of planning regulations to prioritise growth and enterprise
• £350 million of business regulation to be scrapped
• Business rate relief holiday for small firms extended for another year
• 21 new enterprise zones will be launched backed by tax incentives
• Fair fuel stabiliser to be introduced on Thursday funded by the rise in supplementary charges on North Sea oil and gas production

 

22/03/2011

HMRC's Managing Deliberate Defaulters Programme - Is it legal?

HM Revenue and Customs as part of their Managing Deliberate Defaulters programme intend to write to approximately 900 individuals whom they have identified as candidates for this programme informing them that they are now to be subjected to a far higher level of scrutiny for at least five years.  This monitoring will extend across all the defaulter's activities not just those that have come to the attention of the HMRC.  This will involve unannounced inspection visits, record checks, requests for additional information, inspection of the records of their suppliers or customers and may involve the submission of quarterly or monthly VAT returns.  There is no opportunity to appeal inclusion on the programme; it will only be possible to lodge a complaint.  Also no default will be considered so small as to not warrant inclusion.

This stance appears to have been adopted without reference to or approval from parliament.  However the HMRC did seek third party opinion via the Compliance Reform Forum on its website.

It has been suggested that such close scrutiny may not be compliant with the Human Rights Act and the European Convention of Human Rights and may, in certain circumstances, be an infringement of the chosen ones' human rights, in particular the right to privacy and peaceful enjoyment of their property.

16/03/2011

Merger of Competition Authorites

The Government's plans for a single agency, the Competition and Markets Authority (CMA) which will arise from the merger of the Competition Commission and the Office of Fair Trading have met with a muted response.  The laudable but predictable reasons for the merger - eliminating duplication of costs and increasing confidence in the system - are accepted.  However, the consensus amongst competition lawyers is that whilst the merger of the regulators is a good thing overall there is concern that some aspects of the new proposals may drive up expenditure.  For example it is suggested that the proposed mandatory notification of all mergers will simply add unnecessarily to the costs and bind the deals in red tape, ultimately restricting mergers.

These proposals are still fluid as the Government has not made up its mind yet and is inviting comment on the proposals.

14/03/2011

La Dolce Vita 2011

Once again the Italian lifestyle exhibition was hosted in the Business Design Centre in Islington bringing together an impressive assembly of Italian talent.  This lively exhibition provides an opportunity to sample the authentic flavours of Italy in the extensive food and wine section and get closer to the various regions in the property section. 

Now that the exhibition is organised by Single Market Events, the company that arranges and coordinates London Fashion Week, we can doubtless look forward to a much larger Italian fashion section next year.

There seemed to be a significant degree of confidence amongst the exhibitors which we hope indicates that despite the continuing global despondency, Italy is raising its game.

07/03/2011

LVMH takes over Bulgari family business

Buoyant emerging markets have driven the deal between LVMH, the French luxury goods group and the Bulgari family.  The deal sees two Bulgari family members take seats on the board of LVMH and a share swap that will make them the second largest family shareholder in the largest luxury goods group in the world.

Bulgari was seen as the last illustrious family business in the luxury goods sector to be available for takeover.  Experts expect to see more merger and takeover activity as the market rises to meet the demands of the affluent Far Eastern consumers.

04/03/2011

Lord Sugar's Matchless Style

Lord Sugar has been bringing his own unique charm to the property professionals prestigious Mover and Shakers Breakfast at the Dorchester this morning by informing the august assembled company of real estate gurus that they "know nothing".  Moreover he illustrated his point by drawing on his own experience in the world of investment property.

Lord Sugar has a property portfolio worth in the region of £400 million and chose to highlight his assertion by outlining his experience relating to his acquisition of the Hard Rock Café in Mayfair.  He described the advice delivered by the agents with regard to the likely cost of refurbishing to create luxury apartments as "back of a fag packet" calculations when the £3 million proposed costs proved to be well wide of the mark and spiralled to £12 million.  The escalated costs meant that the apartments needed to sell for £5 million each whereupon Lord Sugar's agents informed him that £3.5 million was the top dollar he was likely to get for each apartment.  Undaunted Lord Sugar did subsequently sell each apartment for £500 million plus.

In light of his compelling example it is understandable that Lord Sugar formed the view that his property professionals fell short of his expectations, however the property market is fluid and the climate may have been very different when the first estimate was provided compared to when the works actually took place.  It would not be hard to imagine the reception he might receive from the real estate world should he decide to either increase or decrease his portfolio.  Fortunately he has no plans to sell off any other parts of his extensive portfolio unless - in his words - he finds another lunatic who makes him an offer he can't refuse.

23/02/2011

Responsibility for child custody and financial matter placed firmly on the shoulders of the divorcing couple

When announcing the new mediation rules, to come into effect on 6 April, the Justice Minister, Jonathan Djanogly, said "nearly every time I ask someone if their stressful divorce battles through the courts was worth it, their answer is 'no'.  Mediation already helps thousands of legally aided people across England and Wales every year, but I am concerned that those funding their own court actions are missing out on the benefits it can bring.

Our proposals aim to radically reform the system and encourage people to take advantage of the most appropriate sources of help, advice or routes to resolution - which will not always involve the expense of lawyers or courts".

With the courts runnig at approximately £2,823 per case as opposed to mediation at £535 it's a no brainer which course the Government is keen to encourage.  Compelling couples to take responsibility for decisions relating to the children and the financial arrangements will make it harder to back track and refuse to comply.

01/02/2011

Delay to the Bribery Act

The Government has bowed to pressure to delay the implementation of the Bribery Act.  The media warnings of dire consequences to British business and the somewhat fuzzy guidance on, amongst other things, hospitality issues and the non-existant guidance on what constitutes the "adequate" procedures a company must have in place to defend against the Section 7 offence of failing to prevent bibery have all contributed to the decision to think again.   

The previous Government was in power when the Act received Royal assent and the the present Government is now prepared to review the Act and says it will provide proper guidance for businesses.  Once the guidance has been published there will be a three month period before the Act is implemented.

27/01/2011

New Statistics on Distressed Businesses

Begbies Traynor, the AIM listed corporate recovery consultancy, has revealed in its quarterly Red Flag alert the shocking news that 123,361 companies in the UK are facing significant or critical distress, furthermore they collectively owe more than £57.5 billion to creditors, suppliers and service providers.

The factors that are impacting on the struggling businesses are the increase in winding-up petitions by HMRC and the predicted government spending cuts, which are to be announced shortly, are likely to put at least 50,000 companies at risk.  IT, recruitment, advertising and business services are amongst the sectors worst affected by the expected cuts; with construction, traditionally always one of the hardest hit sectors, reaching an 18 month low.

Ric Traynor, Executive Chairman of the Begbies Traynor Group, commented "retail, leisure and travel are already seeing a slowing rate of recovery ahead of greater pressure on consumers' disposable incomes from increased VAT rates and public spending cuts.  With recent evidence of house price reductions, falls in consumer credit and lower savings ratios, we expect a combination of deteriorating consumer confidence and financial resources to result in growing numbers of business failures in those sectors most exposed to discretionary spending".

TMA Legal believes that one of the most painful aspects of the whole problem is that many of the 123,361 troubled companies could be salvaged if only they consulted professional advisors sooner rather than later.  The quicker you act the more of a business can be saved to rise again and trade another day.  However, refusing to accept that tough measures have to be taken can mean that everything may be lost.

12/01/2011

Age Discrimination Triumph for BBC Presenter

The BBC has had little choice but to accept its punishment and apologise for the way Miriam O'Reilly was ousted from Countryfile for being too old.  Other presenters have tackled the BBC but have failed to go the course to gain the spectacular win that Ms.O'Rielly has obtained.  This is a landmark case as it demonstrates that you cannot be sacked simply for being too old.

Employers should be very careful what they put in an email as it can come back to bite them when faced with a Tribunal claim.  The email exchanges that have been aired in the current case reveal the questionable attitude with the BBC towards the appearance and ages of the presenters.

The Tribunal was scathing in its criticism of the BBC from the too casual complacent general attitude to the way they treated their staff - offering Ms. O'Reilly dark hair dye and warning her about her wrinkles in advance of HD television, even suggesting Botox.  It was also revealed that Ms. O'Reilly received an offer of £80,000 to drop the case when the BBC realised the level of the problems it faced.

In an attempt at damage limitation the BBC issued a statement saying it was reviewing its guidelines and looking hard at training.  Ms. O' Reilly received a telephone call and an apology from the director general Mark Thompson who also told her she was welcome back at the BBC.

It remains to be seen whether, as predicted, there will be a raft of "older" women appointments over the next few weeks. 

10/01/2011

Action to Limit Weak Employment Law Cases

The Coalition Government is alarmed at the number of claims that have little or no merit that are being started by employees in the hope of receiving an offer of a settlement before reaching the Tribunal.  Clearly many former employees think that, regardless of the circumstances of their dismissal, they have a case.  The Government is particularly keen to limit this type of week and often vexatious claim and there is to be a review leading to reforms aimed at limiting such claims which are simply started to generate a pay off.

 

 

 

20/12/2010

TMA Legal Christmas Lunch

Everyone at TMA Legal enjoyed a fabulous Italian Christmas lunch - excellent food, excellent company.

16/12/2010

Times Law Christmas Drinks

Once again TMA Legal was delighted to attend the Times Law Christmas drinks at the superb Reform Club in Pall Mall.  Always an splendid evening and this year seemed even better than ever.  As always Edward Fennell and his colleagues are excellent hosts, Edward never fails to offer warm greetings and introductions to his guests. 

15/12/2010

The Sovereign Group Christmas Party

TMA Legal attended the Sovereign Group's Christmas party.  The well respected asset management company hosted their evening in the Dutch Cultural pop-up space in the West End.  We were surrounded by the work of the worthy applicants for the Sovereign Art Foundation Asian Art prize.  The Sovereign Art Foundation raises funds for disadvantaged children both in the UK and in Asia. 

13/12/2010

So much Snow!

TMA Legal remained open during the recent bad weather but many firms were without their keyworkers.  Large organisations often have their back office operations in places like Glasgow or Leeds where the snow has had a far greater impact and there are situations where no staff have been able to get to the office and sub-contractor, staff and suppliers have remained unpaid during the bad weather.  For information on managing staff in bad weather conditions read more

18/11/2010

Wine tasting at the Argentine Ambassador's Residence

TMA Legal joined an international throng at the residence of the Argentine Ambassador to enjoy the delights of a selection of wines from France, Spain, Italy and Argentina.  A most successful collaboration between the Chambers of Commerce of each country, hopefully the first of many such evenings.

05/11/2010

Even for the young it is better to have a will and not need rather than the other way round

Yet again the crucial importance of leaving a will is in the spotlight again in Newport Crown Court in South Wales.  The sudden untimely death of Chris Johns at the age of 47 years has created a situation that would be barely believable in a work of fiction.  At the time of his death Mr. John and his wife Helen had parted acrimoniously and he was living in his luxury home with his mistress Gillian Clemo.  Mr. John had not made a will despite having a large portfolio of properties.

A dispute arose as to whether Mr. John's sisters or Mrs. John should act as executors and administrators of the estate.  Matters took a dramatic turn when it was discovered that Mrs. John was in fact not an ex-wife but a widow as the decree absolute had not been lodged with the court and she had been married to Mr. John as the time of his death and therefore had a legal claim on his estate.  This significantly changed the goal posts.

Three days after this remarkable news Ms. Clemo found a will, this has since been deemed a forgery by a handwriting expert.  Suspicions had been raised due to the mis-spelling of Mr.John's daughter's name.  Ms. Clemo only sought to remain in the luxury home and therefore aimed to ensure that Mr. John's sister Melissa Fenton was named as executor to achieve that end.  The forged will, leaving everything to Mr. & Mrs. John's daughter when she attained the age of 27 years, was shown to Mrs. John who stated in court that she was struck by the fact that the signature did not look like her husband's.  She, Mrs. John, then forged an addition to the will as she feared for her daughter's inheritance.  Mrs. John admitted her action and received a formal caution rather than being taken to court.  Whereas Ms. Clemo, who swore in her affidavit that the will was genuine and she had witnessed it, has been charged with using a false document.

This appalling situation would never have occurred had Mr. John had made even a simple will.  It appears to be a reckless oversight given that this gentleman had a complicated private life, a large fortune and a young daughter whom he surely would have wanted to benefit from his wealth.  Part of his estate has now been sold (the luxury home) by his mistress under the eye of the administrator, Melissa Fenton.  The case continues.

25/10/2010

Never too soon to make a will

Very few young people make a will, even those with substantial assets it seems.  Cheryl Cole certainly did not expect to catch malaria (despite the 250 million cases each year) maybe she thought that her privileged position protected her.  It appears that it was only when she found herself on death's door that she started to consider making a will and how she would dispose of her substantial assets.  This seems amazingly remiss as she was in the process of divorcing her errant husband, who, through the English law of intestacy, would have inherited her fortune had she not recovered.  Doubtless this would have led to a legal squabble with her family.

20/10/2010

Lucky Pets are inheriting their owner's assets

Whilst family still heads the list of beneficiaries with 87% of people leaving the assets to their children, spouses or other relatives; it seems that something in the region of 1.5 million people plan to leave their assets to their pets.  A surprising half a million people intend to leave their assets to a secret lover which is bound to cause a few raised eyebrows when the wills are read.  

Karen Barrett of Unbiased, who conducted the survey published today, expressed views along the lines that with less marriages and an increasing number of individuals keen to leave their money to charities or friends it is even more important that a properly drafted will is in place.

 

18/10/2010

The Italian Chamber of Commerce Banking Conference

TMA Legal attended the annual Banking Conference, organised by the Italian Chamber of Commerce, at Glaizer's Hall the riverside venue by London Bridge.  The Italian Chamber of Commerce had an impressive line-up of speakers from the banking industry.  The guest of honour, Lord Wallace of Saltaire, holds a variety of positions in the Government including that of Government Whip in the House of Lords.

The Banking Conference always offers an interesting insight into the financial world's current position and the relationship between the UK and Italy.

30/09/2010

Launch of Berkeley Square office of Accountants

TMA Legal attended the launch of the London office of Sopher & Co chartered accountants based at Elstree in the smart private members club in Berkeley Square.  Soper & Co. also have offices at Pinewood Studios. 

 

14/09/2010

Yet another Celebrity Will under the Spotlight

The late Malcolm McLaren, manager to the Sex Pistols, made a death bed will leaving his entire estate to his American girlfriend of 12 years and absolutely nothing to his son and step-son.

Joe Corre, Mr. McLaren's son, is contesting the will (Mr. McLaren's first and only will) on the basis that his seriously ill father did not have testamentary capacity to make such a decision and furthermore that the will does not conform to the proviso under English law for two witnesses to the will both signing at the same.

Mr. Corre is not contesting the will out of avarice as he is the founder of the successful lingerie chain Agent Provocateur and is himself a multi-millionaire.  His challenge stems from his upset at his father's snub.  Mr. Corre had a difficult relationship with his father but they were reconciled before he died.

The challenge will turn on whether Mr. McLaren was truly able to make a decision regarding his estate due to his advanced illness and also whether there was any undue influence involved.

Click here for more on challenging a will

03/09/2010

The Legal Ombudsman

The imminent arrival of the Legal Ombudsman, which has been set up as a direct response to the poor handling of complaints by the Legal Complaints Service, sees the power to regulate the legal profession pass to a new independent body.  With only 50 people recruited from the LCS the new staff is currently going through an extensive training programme.

The LeO, as the Legal Ombudsman will be known, has a different brief from that of the LCS, the new body is a single body dealing with all lawyers, including barristers, legal executives and licensed conveyancers.  It aims to be as paperless as possible and telephone messages will not be transcribed but held on voice files and attached to the notes.  There will be few, if any, written letters; the preferred method of communication being email.  Another major change is that the LeO will not be rules driven, focusing solely on whether the level of services has been met rather than whether the rules were followed to the letter.

Adam Sampson, who will head the new body, is adamant that he will not be a consumer champion and states unequivocally that the LeO will be completely neutral  "an ombudsman who is a consumer champion is failing in their primary duty to be independent.  You cannot take one side or the other"  he asserts.

It is clear that there will be a complete change in the way consumer complaints will be dealt with.  The profession will not be able to hide behind paper trails of strict "rule adherence" nor will confusing jargon ridden responses to the complaining clients be acceptable.  When a complaint reaches the LeO it will be looking as closely at the way firms deal with their problems as to how the problem arose in the first place.

01/09/2010

Affiliation with Valla & Associates inc.p.c.

TMA Legal is delighted to announce that we have formed an association with Valla & Associates inc.p.c. a well respected commercial law firm based in San Francisco.  Antonio Valla, the founding partner, has sixteen years experience of commercial law in the US and has a strong team with solid international capacity.

"Antonio and his team share TMA Legal's principles of integrity and high level of client care" says Massimo Migliorini "we are looking forward to working together to bring another dimension to our clients"

12/08/2010

Conflicting news on Age Discrimination

News that the Government, unsurprisingly given the burgeoning number of pensioners, has stated that people should be permitted to work beyond the current default age for retirement and not be forced to retire was delivered on the same day that the Court of Appeal rejected Leslie Seldon's claim for age discrimination against his former employers Clarkson Wright & Jakes mainly on the basis that retaining older employers would stall the rise of young blood.

There are compelling arguments for both sides but given that the shrinking working population will be expected to pay for the huge baby boomer retiring population and apparently if everyone extended their working lives by a mere 18 months beyond the current retirement age it is estimated that the economy would be boosted by £15 billion; the Court of Appeal may have misread the situation and handed employers a get-out-of-jail card that we may all live to regret.

02/08/2010

New Product Launch at Penhaligon's

TMA Legal was invited to a drinks reception at Penhaligon's in Covent Garden to mark the launch to two new fragrances.  Stepping into the unique premises is like stepping back in time, the courteous colourful staff, the air of gentility, the way the shop is dressed all combine to make evenings at Penhaligon's truly memorable. 

08/06/2010

The P & A Partnership London Launch

TMA Legal was delighted to join the P & A Partnership at the Champagne bar in St. Pancras Grand for their launch party.  The successful event was attended by a wide range of interesting and notable guests from the world of insolvency.  P & A were generous hosts and TMA Legal wishes every success to Filippa Connor at the helm of their London office.

 

10/05/2010

HMRC takes a hard line on businesses asking for time to pay VAT

HMRC doubled the number of rejections for requests for extra time to pay VAT payments under the Business Payment Support Service through which businesses can request a delay when paying corporation tax, VAT and National Insurance.  It is feared that at a time when bank lending to businesses hit a record low that HMRC is taking a much harder line with struggling businesses.

The new rules HMRC has introduced compelling businesses that request time to pay to undergo an independent business review by an approved accountant could easily cost a company hundreds, in some cases thousands of pounds pushing businesses further into difficulties.  HMRC denies that they have tightened the criteria for eligibility for this accommodation, commenting that each case is considered on its on merits.