Listed below is a summary of the major business and legislative development taking effect in the year ahead
Date |
Event |
Early in year |
Banking Reform Bill expected to receive Royal Assent |
31 January |
New TUPE regulations come into force. For details, visit New TUPE Regulations |
13 March |
Consultation on zero hours contracts (Code of Practice and banning exclusivity clauses) closes |
19 March |
Budget day |
Spring |
Business Bank expected to be established (fully operational by Autumn 2014) |
1 April |
Main rate of corporation tax for non-ring fenced profits reduced to 21% Initial phase under the CRC Energy Efficiency Scheme Order 2013 begins Office of Fair Trading and Competition Commission abolished and replaced by Competition and Markets Authority. Remaining provisions of the Enterprise and Regulatory Reform Act 2013 come into force |
5 April |
Real Time Information concession for smaller employers ends |
6 April |
Income tax personal allowance increases to £10,000 and basic rate limit increases to £31,865 ISA annual subscription limit increases to £11,800 Changes re private use of company cars and lease to employees commence Presumption of self-employment for members of LLPs removed Right to request flexible working extended to all employees with 26 weeks' service A business rates discount of up to 50% will be given for 18 months to new occupants of retail premises which were previously empty for a year or more. The relief will apply to businesses moving into empty retail premises between 1 April 2014 and 31 March 2016. Changes to the inheritance tax exemptions will be made to ensure that they apply to shares and other assets transferred to employee-ownership trusts, provided certain conditions are met. |
28 April |
Stamp duty on shares in companies listed on the Alternative Investment Market and the ISDX Growth market abolished |
April |
Proposed reforms to the rules concerning close company loans to participators expected to take effect Early concilliation: ACAS will contact employers ahead of any potential tribunal claim, provided the employee agrees, to see if there is scope for resolving the dispute |
12 June |
Exemption for micro-businesses and new businesses under the Consumer Rights (Payment Surcharges) Regulations 2012 ends |
13 June |
New Regulations tightening up the Distance Selling Regulations and Doorstep Selling Regulations and implementing the EU Consumer Rights Directive come into force |
Autumn |
Employer-funded health treatment tax exemption commences |
31 December |
Proposed directive on the protection of trade secrets expected to be adopted |
Unspecified |
Consumer Rights Act, consolidating existing consumer protection legislation and replacing Unfair Contract Terms Act 1977 and Unfair Terms in Consumer Contracts Regulations 1999, expected to receive Royal Assent |
Unspecified |
£200 million Islamic bond expected to be launched |
For information about developemnts in employment law, contact Patrick Stewart for all other enquiries contact Peter Stevens
For details about TWM's legal services on our website visit Our Services
© TWM Solicitors LLP 2014 - All Rights Reserved. Information contained in this article and on our website does not constitute legal advice and is provided for information purposes only. Recipients should not act upon it, but should seek legal advice relevant to their own situation.
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