Rhondda firm expands to Ho Chi Minh City – Supported by Berry Smith LLP

A Welsh automotive company is expanding into Vietnam in a multi-million pound move.

Waldon, in the Rhondda Valley, is to open a wholly-owned subsidiary in Ho Chi Minh City with the long term plan of manufacturing parts for cars and selling them to car-makers and system suppliers worldwide. 

Welsh solicitors Berry Smith have played a key role supporting Waldon in the move, using their knowledge of international business law and contacts.

Late payment reporting will help small businesses prosper

Dispute

The government is pressing ahead with its plans to make large businesses report on how quickly they pay their suppliers.

Ministers believe the move will help smaller firms to grow and prosper. It comes as the latest figures show that SMEs are owed £26.3 billion in overdue invoices.

From April this year, large companies and limited liability partnerships (LLPs) will have to publicly report twice a year on their payment practices and performance, including the average time taken to pay supplier invoices.

Failure to report will be a criminal offence.

Probate Fees Rise – Is the Government giving with one hand and taking away with the other?

Probate and Wills

The forthcoming changes in the inheritance tax allowances that apply on death (potentially £1 million free of tax by 2020) are to be welcomed but these do not necessarily signal a movement towards further reduction in the taxes payable when someone dies. The fees payable to the Probate Registry to obtain a grant of probate by the legal representatives of an individual’s estate on death are set to increase at the highest end of the scale by over 9,000%.

Are you fully up to date with key developments in employment law?

Compensation

On Thursday 23 March 2017, Fabio Grech, Partner and Head of the Employment and HR team at Berry Smith LLP, will be presenting at a seminar run in partnership with the Wales Quality Centre and Bridgend Business Forum at The Waterton Centre, Bridgend, CF31 3WT. Places must be booked in advance, to book your place please click on this LINK.

The apprenticeship levy, is your business ready?

Compensation

Following an initial announcement in the 2015 summer budget, a new apprenticeship levy comes into force with effect from 6th April 2017.  The levy is payable at a rate of 0.5% of an employer’s total wage bill and applies to all employers in the UK, across all industries and sectors, and is payable regardless of whether the business currently has, or intends to have, any apprentices. 

Record number of employers named for underpaying workers

Compensation

More than 350 employers have been 'named and shamed' for failing to pay the national minimum wage rates.

It’s the largest list of its kind so far produced by the Department for Business, Energy and Industrial Strategy and names 360 businesses that underpaid 15,520 workers a total of £995,233. Employers in the hairdressing, hospitality and retail sectors were the most prolific offenders.

All of the money owed to their employees has to be paid back to them.

What happens when a Husband and Wife are more than just domestic partners and things go wrong?

family-appeal

These days, it is understandably common when parties get together over a mutual interest and then spot a business opportunity which they think they could profitably develop together. A joint business may be set up either as an equal partnership or an equal shareholding in a limited company and, of course, there are also many occasions when a business is set up jointly simply for tax efficiency reasons and one partner is not actively involved at all.

£1 million free of tax on death by 2020 (not necessarily!)

Probate and Wills

Inheritance tax, of all the taxes, is seen by many people as punitive in various ways but often because it is seen as a “second” tax.  When advising clients, I often hear the phrase “I have paid tax all through my life and I have to pay it again when I die!” The government’s refusal to increase the amount an individual can leave tax-free on death has meant more people get caught by inheritance tax as a result of the rise in house prices. The number of estates liable to inheritance tax has almost doubled since 2008-09.