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Cumbria no longer ‘keeping it in the family’ - free spaces available to Cumbrian family businesses

As an area known for its outstanding beauty and tourism industry, it’s no surprise that Cumbria is host to a huge range of family businesses many of whom stand on the global stage. The county is set to become a hub for family businesses from across the country as it hosts The Family Business Conference at the Rheged Centre in Penrith on Wednesday 12 October. Family businesses from inside the county are eligible for one free space and are being encouraged to capitalise on the opportunity.

Mitchell Dryers Limited – Update as of 09.00 Friday 30 September 2016

Mitchell Dryers Limited – In Administration (‘The Company’)

Update as of 09.00 Friday 30 September 2016

It is with regret that the Joint Administrators of Mitchell Dryers Limited announce the redundancies of 27 of the 32 staff employed by the Company.

What are warranties?

Thank you to Tim Gower, Solicitor, at berg who has written this article for us on what exactly a warranty is.
 

A recent High Court case has clarified what exactly a warranty is. The facts and context of the case were quite technical, but stripped back, the below explanation of what a warranty is should prove quite useful.

Mitchell Dryers Limited – In Administration

Mitchell Dryers Limite entered into administration on Wednesday 21 September 2016. The joint administrators, Mike Kienlen, Daryl Warwick and Mark Ranson of Armstrong Watson were appointed by the directors.

Mitchell Dryers Limited is a privately owned engineering company with a history dating back to 1859.  The company has specialised in the field of industrial drying for the last 80 years, manufacturing a wide range of equipment from its premises in Carlisle, Cumbria.

Mike Kienlen comments:

Is Airbnb fuelling the housing crisis?

Thank you to Tom White, Associate, at berg who has written this article for us on Airbnb, a digital marketplace which recently came in for criticism for ‘compounding the housing crisis’.
 

MSI Case studies - A Tale of Two Cities

In the third of our series of case studies as part of MSI Awareness month we turn to the thorny issue of trusts.  Trusts are already one of the more complex areas of UK law and they don’t get any easier when cross border issues are involved.  Not all countries recognise trusts in the way that we do as they have different legal systems, making local advice essential.  This is where MSI Global really helps our clients.

A Tale of Two Cities:

Nuclear New Build – Are we ready to make the most of the opportunities?

Decarbonisation is a huge challenge and it will take a significant effort in the coming years to hit government and EU targets. The case for nuclear is strong and has a great deal of cross party support and public support. Cumbria and the North West can claim to be of international, not just national, importance due to its nuclear history and expertise and it seems that our region is set to flourish as a result.

Armstrong Watson Response to the SRA Consultation Looking to the Future: SRA Accounts Rules Review June 2016

Feedback provided to me by COFAs at the Leeds & Yorkshire COFA Forum and the Newcastle COFA Forum, by delegates at my training courses and by my clients is that they prefer to have the comfort of following prescriptive rules that are contained in one place.  They feel that whilst the draft wording of the proposed new Rules is easier to read than the old Rules, it would not be easier to comply with.

The most common response has been “if it isn’t broke, don’t fix it”.

Company Car or Private Car – which should I choose?

This is a question I am frequently asked. As you would expect, the answer is never simple.

Firstly, the decision is not purely tax driven. “Purchase price” and cash flows are just as relevant as the tax implications. Secondly, the choice of vehicle may influence the decision with emissions playing a part in the tax treatment. Thirdly, it depends on who I am advising – an employee for which the decision is based purely on their own circumstances or the business owner in which case the impact on the business matters too.

Getting your state pension forecast

This is surprisingly very easy to do and is now available online. You can check when you are entitled to claim your state pension, how much you can expect to receive, what your National Insurance (NI) record is and if you have any gaps in your record which you may want to fill.

Obtaining a state pension forecast could be more relevant to you if you reach state pension age after 6 April 2016. This is because the new State Pension (based on a single flat-rate amount) replaced the old basic State Pension and Additional State Pension system.