July 26 2014 Latest news:
The well-known payday lender Wonga was recently ordered to repay £2.6million to 45,000 customers for a series of errors, including sending letters to customers from a pair of non-existent law firms in order to put pressure on late payers.
Under the Finance Act 2014, which gained Royal Assent last week, HM Revenue & Customs will receive new powers to issue a tax demand and collect the tax in dispute in relation to certain tax planning arrangements.
Retention of Title (ROT) is the term used to describe an attempt by a seller to incorporate terms into a contract for the sale of goods which have the effect of preventing ownership from passing to the buyer until certain conditions, typically payment in full, have been met.
For the first time the Queen’s Speech earlier this month included a Bill designed for the UK’s army of SME businesses and referenced measures to improve the existing Prompt Payment Code (PPC).