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LEGISLATION |
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Consolidation of the law of corporation tax See CLM ¶1790+, ¶1805, ¶5291, ¶5361+, ¶7964, ¶8931, ¶9324 Corporation Tax Act 2010 The Corporation Tax Act came into force on 3 March 2010, the date when it received Royal Assent. Its purpose is to consolidate and rewrite primary corporation tax legislation in clearer, simpler language so that it is easier to use, but without changing its general effect. The Act does contain some minor changes in the law, which are intended to clarify existing provisions and bring the law into line with well established practice. Readers should check forthcoming updates for details of any specific changes. Publicity of corporate manslaughter offences See CLM ¶7180 SI 2010/276 The court's power to make publicity orders (s 10 CMCHA 2007) came into force on 15 February 2010. The commencement of this power was initially delayed until supporting guidelines were available on how this entirely new punishment should be imposed. The Sentencing Guidelines Council's definitive guideline on corporate manslaughter and health and safety offences causing death has now been published (see the news page of CLM 2010 Newsletter Issue 2), which has paved the way for this power to come into force. The power applies to corporate manslaughter offences committed on or after 15 February 2010. It is not available for offences committed before that date, even if the court passes sentence after that date. Change to fees payable on presenting a winding up petition See CLM ¶7640 Draft Insolvency Proceedings (Fees) (Amendment) Order 2010 The Insolvency Service has announced upcoming changes to the amount that must be paid on presenting a petition for a company’s winding up. For petitions presented on or after 6 April 2010 the deposit, which must be paid to the court at which the petition is presented, will increase from £715 to £1,000. There is no change to the deposit required for petitions presented before 6 April 2010 but where the winding up order is made after that date. In addition, the amount payable to the Insolvency Service on the making of a winding order, known as the case administration fee, will increase from £2,160 to £2,235 in respect of all petitions presented, and winding up orders made, on or after 6 April 2010. Procedure for bringing claims against insolvent companies’ insurers simplified See CLM ¶8016 Third Parties (Rights Against Insurers) Act 2010 A creditor’s ability to bring a claim against an insolvent company’s insurers, if the claim is a liability for which the company held third party insurance, will be simplified. The Third Parties (Rights Against Insurers) Bill received Royal Assent on 25 March 2010. It will come into force on a date to be confirmed by the secretary of state. A creditor is able to bring proceedings against a company’s insurer where the company is insolvent, as the company’s rights to claim against the insurer are transferred automatically to, and vested in, the creditor on the commencement of the company’s liquidation. However, currently, the creditor must bring proceedings against the insolvent company to establish it’s liability before being able to pursue a claim against the company’s insurer. Under the Third Parties (Rights Against Insurers) Act 2010 a new court procedure will be available to creditors which will enable them to seek declarations from the court as to the insolvent company’s liability to them, and the insurer’s potential liability under the policy of insurance, in one set of proceedings. This will undoubtedly save time and costs. In addition, creditors’ ability to obtain disclosure of relevant information will be improved and clarified. Introduction of the new medical “fit note” See CLM ¶9940 SI 2010/137 The Government has announced that its proposals to replace sick notes used by doctors with “fit notes” will come into force on 6 April 2010. The format and content of a sick note will change so that, instead of simply stating whether a patient should or should not be in work, doctors will either indicate that a patient is not fit for work, or that they might be fit for work provided that adjustments are made to their working hours, workplace or duties, or subject to a phased return to work. In addition, the new medical statement gives doctors the option to give general details of the functional effect of the patient's condition. For example, where an individual has moderate lower back pain, a doctor may suggest that he/she will be unable to lift heavy objects and should be given the opportunity to change position or take breaks regularly. It should be noted that employers will not be required to make any recommended changes and that where such changes cannot be agreed the fit note should be treated as though the doctor has advised that the patient is “not fit for work” for benefit and sick pay purposes. |
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VAT Memo 2010-2011, to be published in April, has been fully revised and updated for the Budget 2010 announcements, and will include commentary on the following: - restitution of the VAT rate to 17.5% (effective January 2010) - new place of supply rules for cross-border services (effective January 2010) - TOMS changes ((effective January 2010) - new tribunal and appeals system (effective April 2009). |
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Be on top of the latest changes with VAT Memo 2010-2011 |
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