Deal volumes in Q1 2014 have been relatively quiet, with no evidence of a seismic shift in attitudes to M&A so far, and none really expected. Compared to last year, we have seen a similar number of transactions being started and negotiated, but the speed of closing deals seems to be taking longer – we have witnessed stronger negotiation on price from potential buyers combined with a level of resistance from sellers to transact at undervalue.
Category: News & Views
In our previous article, we provided a brief overview of the invitation for tender undertaken in Hungary by the Ministry of National Development (2013 Bid Round) which closed on 15 November 2013. The outcome was due within 90 days and thus the results of the Bid Round were announced on 19 February 2014.
In this article we provide a brief overview of the issue of an invitation for tender by the Ministry of National Development (2013 Bid Round) currently under way in Hungary and to provide a brief comparison with the system it replaces along with some commentary.
The Bid Round closed on 15 November 2013 with a very limited number of bids and we expect there will be modifications to the terms in future rounds next year.
The staging timetable for when employers in the UK must automatically enrol eligible jobholders in a pension scheme has been finalised. The new regulations, which comes into force on 1 October 2012, revise the current implementation timetable so that small employers will not be subject to auto-enrolment until June 2015 at the earliest. The revised timetable will benefit approximately 1.3 million small employers (covering around 4.75 million eligible individuals) whose staging dates will be delayed by at least 14 months.
Your business will be required to automatically enrol eligible “jobholders” in a pension scheme. A “jobholder” will include permanent, fixed-term and temporary employees, as well as agency workers.
This checklist highlights key issues for businesses.
It is not uncommon for a business to sponsor students to advance their training, particularly where there is an expectation (or commitment) that the student will work for the company at the end of the course. An Employment Appeal Tribunal (EAT) decision has confirmed that these type of arrangements are unlikely to be considered to be contracts of employment if the primary purpose of the arrangement is training and education.
In this case, the EAT had to consider whether a contract to sponsor a former apprentice during a university degree was a contract of employment entitling him to claim unfair dismissal, or a contract which would not give him statutory employment rights. The EAT held that there was no dismissal when the sponsor refused him full-time employment following his withdrawal from the degree.
This checklist explains the significance of the distinction between an employee, a worker and a self-employed contractor. It also sets out the factors that will be considered by an employment tribunal when deciding whether an individual is an employee or self-employed.
An NHS Trust and three senior employees have been ordered to pay £4.5 million in compensation to a female obstetrician.
The obstetrician was subjected to harassment, criticism, false allegations and “a lengthy and wholly unauthorised period of suspension” before disciplinary proceedings began, culminating in her dismissal.
The award was made up of £1.1 million for loss of past and future earnings, £600,000 for loss of pension, damages for injury to feelings and exemplary damages against the Trust. It is thought to be the largest award in a UK discrimination case.
This checklist sets out the different types of discrimination that can occur within the workplace and highlights practical steps businesses can take to help avoid breaching discrimination and harassment law.
A recent High Court decision will have implications for tenants who are considering exercising a break clause in an existing lease. The court held that a tenant owed default interest on late payments under a lease, even though the landlord had not issued any demand for default interest.
This checklist highlights the practical issues a tenant should consider before exercising a break clause.
The government has confirmed that, subject to two exceptions, mandatory online filing of VAT returns will be extended from 1 April 2012. Currently, only businesses with an annual turnover of £100,000 or more must file VAT returns online. All VAT registered businesses will now need to file VAT returns online for VAT accounting periods beginning on or after 1 April 2012.