Interest rate outlook by Barclays 20.08.08

The Bank of England's decision to hold the official Bank Rate unchanged at 5% in August came as no surprise, but there was seen to have been an outside chance of interest rates being raised. Although consumer price inflation is expected to increase further in the near term, any temptation to tighten policy is likely to be tempered by evidence of a weakening economy.

Analysts generally expect a more marked decline in interest rates in 2009 than is currently being priced-in by the yield curve.

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Grants available for SME's
The government are now funding SME businesses with EU money made available to companies like yours. Call us to see if we can help acquire a grant. Call for further information.

Credit Crunch

KPMG research has predicted that more than 10m people in Britain may default on repayments for mortgages, credit cards or personal loans by the end of 2008. The research found that 22% of those adults with debts, equating to 6.6m, are already finding it difficult to meet their repayments, while 35%, or 10.6m, are worried they will find it even more difficult to pay back their debts in a year. Call for further information.

Information & Consultation Regulations Reminder

Business owners with 50 or more employees in England, Scotland & Wales should be aware of the forthcoming extension of the Information & Consultation of Employees Regulations 2004. From 6 April this year, the Regulations extend to organisations with 50 or more exployees, who will have the right to be informed and consulted regularly about business decisions which affect them as workers. If a minimum of 15 employees ask for information and consultation agreements to be in place the employer must negotiate with them to do so. Call for further information.  

Minimum Wage Increase 01/10

From 1st October 2008 the National Minimum Wage will increase by 21p to £5.73 an hour for adults. The new rate for 18-21 year olds will also increase from £4.60 to £4.77, while the 16-17 year old rate will rise from £3.40 to £3.53. Call for further information.

Fire Safety Law
Fire safety legislation, effective from October 2006, has direct impact on companies and their directors. The new legislation removes the need for a fire certificate but you still need to assess the company's fire risks via detailed risk assessments or face fines and increases in your insurance. Call for further information.

Bank's Penalty Charges
One in five bank customers incur penalty charges, but they are not legally enforceable. Many businesses and personal bank customers have successfully claimed back any such charges incurred in the last six years. Call for further information.

Mortgages For Director
As an owner-director, you may have chosen to take a small salary with the rest as dividends. This may mean that you don't have the required proof of income when it comes to applying for a mortgage. A self-certification offset mortgage may be the answer. Call for further information.

Rules for Company Website & Stationery

From the 1st January 2007, all companies are now required to display on their websites their company's full name, registered number, registered office and place of incorporation. This is an extension of the existing rules that require companies to include these details on all business letters and order forms.

The information is likely to appear in the footer of every email sent from a company, to avoid having to decide whether each email amounts to a 'business letter' or not. Many companies do this already because the term 'business letters' was thought likely to include emails even without this new clarification.

For websites, contrary to the fears of some, the specified information does not need to appear on every page. Again, many websites will already list the required information, perhaps on their 'About us' or 'Legal info' pages. Call for further information.