Lending to UK business weakest on record in July -BoE

inspector_monkfish

thanks all for the explanations

lemonjelly

inspector_monkfish wrote: »

thanks all for the explanations

Anytime,

you're not asking for any particular reason are you?

Thrugelmir

lemonjelly wrote: »

You're just trying to steal my thunder now aren't you :D

I'll ignore future points on Employment law and leave them to you. :beer:

lemonjelly

Thrugelmir wrote: »

I'll ignore future points on Employment law and leave them to you. :beer:

No worries mate!
It's just not very often (if ever) I can actually know what we're talking about on this board & speak from a position of knowing my stuff.

All else I say is conjecture & speculation.

Still all good fun though.

Have a good one :beer:

Thrugelmir

lemonjelly wrote: »

Really2 is right that business' go into admin to avoid redundancy payments, then get bought out after, as the recievers advise the employees to apply to the national insurance fund for their redundancy pay (& other entitlements) as the ciompany has no assets. Ten minutes later, the company gets bought (frequently, by the old management team, or the previous owners other half!)

Its not always to avoid redundancy payments. The Company cannot afford to pay their staff. As well as redundancy Companies are liable to pay accrued holiday pay, owed basic pay, pay in lieu of notice and comission. So adds up.

Company directors often are on rolling contracts. So may be entitled to up a years salary !

In the good old days we used to employee staff through a subsidary company of the business we acquired. So no liability fell on the operating Company if anything went wrong. This also left arrears of PAYE and NIC in the subsidary meaning the Government took the hit. Not the business.

lemonjelly

Thrugelmir wrote: »

Its not always to avoid redundancy payments. The Company cannot afford to pay their staff. As well as redundancy Companies are liable to pay accrued holiday pay, owed basic pay, pay in lieu of notice and comission. So adds up.

Company directors often are on rolling contracts. So may be entitled to up a years salary !

In the good old days we used to employee staff through a subsidary company of the business we acquired. So no liability fell on the operating Company if anything went wrong. This also left arrears of PAYE and NIC in the subsidary meaning the Government took the hit. Not the business.

Interesting point.

I'm aware my knowledge of this is more from the side of the affected employee(s)

Very enlightening to read your perspective on how it is from the other side.

Thanks for sharing.

inspector_monkfish

lemonjelly wrote: »

Anytime,

you're not asking for any particular reason are you?

no, mr T brought it up...