New legislation comes into force on 26 October that increases penalties for employers who fail to prevent sexual harassment in the course of their workers’ employment. New steps are recommended in advance of the Christmas party season.

Top 100 law firm, Cripps, has published a new report focusing on gender bias and the career barriers senior businesswomen face. The report uses the findings of a survey of 101 female c-suite executives including CEOs, COOs, CFOs and business owners and founders. The report also contains personal experiences and opinions of senior businesswomen in Cripps’ own network.

A Brighton based business has been selected to support regional Chamber of Commerce members with specialist training and advice for enterprise sustainability.

Are you a professional services (accounting, law, consulting) business with between 20-250 employees? If not, do you have such businesses in your network?

As yet we are not seeing the predicted recovery for M&A activity in the UK. However, the South East appears to have bucked the trend showing a higher volume of deals for high growth companies in H1 2024 compared to the previous year. The South East continues to be the most active region for M&A transactions outside London, with deal volume driven by the technology sector. 

Leading Sussex law firm Mayo Wynne Baxter has moved its Eastbourne team to a new modern office hub in the heart of the town.

South East businesses accounted for 10% of administrations in the first six months of 2024 – the fourth highest region in the UK – according to analysis by Sussex law firm Mayo Wynne Baxter.

Cripps is proud to be awarded Independent Law Firm of the Year at The Lawyer Awards 2024. Widely regarded as one of the legal profession's most respected accolades, the awards celebrate the outstanding achievements of firms and individuals across the entire legal landscape.

In this Lunch and Learn session, we will be looking at the issue of performance management, with a particular focus on neurodiverse employees and those with mental health conditions, where employers need to approach the issue of performance with particular sensitivity and understanding.

On Friday May 24th 2024 the government rushed the Leasehold & Freehold Reform Bill through parliament before it was dissolved ahead of the General Election on 4th July. Michael Gove, who originally pushed to update the ‘feudal’ leasehold system, stood down from his role as Housing Secretary, as well as Conservative MP.

In light of a recent case that cost a family an extra £15,000, Sussex law firm Mayo Wynne Baxter is urging people to securely store their wills and keep them regularly updated to avoid significant complications and unnecessary expenditure for loved ones left behind.

April will mark a significant milestone in the UK’s employment landscape with the introduction of the UK Government’s Flexible Working Bill and changes to Flexible Working Legislation. This shift isn’t just a minor tweak in employment law; it’s a transformative move that acknowledges the evolving needs and expectations of the modern workforce. However, despite this progressive step, there’s a lingering skepticism in some industries about the feasibility of flexible working. The common misconception is that certain sectors can’t adapt to this model, but the truth is, flexible working is not a one-size-fits-all concept. It’s versatile, adaptable, and, most importantly, beneficial for both employees and employers.

Martin Searle Solicitors Launch their Annual Pregnancy and Maternity Discrimination Campaign ‘Mind the Bump 2024’.

We’re delighted to share the news that EMW has merged with SP Law in a deal that sees our firms join forces.

Kreston Reeves has advised the management team and directors of Cave Direct Ltd on its successful management buyout.

Leading Sussex law firm Mayo Wynne Baxter is urging people who decide to gift their home to reduce inheritance tax, or to prevent it being used to pay for care, to be aware of the risks.

What you should consider when resigning a Company Director Changes to a company’s management team and structure can happen for many reasons. Some common factors that may prompt such changes include strategic realignment, leadership succession, performance issues and market conditions. These are just a few of the reasons why companies make changes to their management team and structure. Each situation is unique, and the specific drivers for change will depend on the business’ circumstances and goals. However when resigning directors there are a number of issues to consider before taking action. Find out more     Considerations when setting up an EMI scheme Enterprise Management Initiative (EMI) schemes can be a great way of recruiting, retaining and incentivising key staff. Whilst offering employee share options is particularly popular with younger entrepreneurial companies, they can also be helpful for more established businesses. EMI schemes offer very favourable tax treatment to employees through granting options to employees, which entitles them to acquire shares at a later date, by exercising their options. No income tax or NIC is payable at the time when the options are granted. Provided that the “exercise price” at which the employee can buy the shares is not less than their market value at the time when the options were granted, there is also no income tax or NIC charge when the options are exercised. This means there’s no income tax or NIC on the uplift in market value. Learn more about EMI schemes   Considerations when setting up an EMI scheme Enterprise Management Initiative (EMI) schemes can be a great way of recruiting, retaining and incentivising key staff. Whilst offering employee share options is particularly popular with younger entrepreneurial companies, they can also be helpful for more established businesses. EMI schemes offer very favourable tax treatment to employees through granting options to employees, which entitles them to acquire shares at a later date, by exercising their options. No income tax or NIC is payable at the time when the options are granted. Provided that the “exercise price” at which the employee can buy the shares is not less than their market value at the time when the options were granted, there is also no income tax or NIC charge when the options are exercised. This means there’s no income tax or NIC on the uplift in market value. Learn more about EMI schemes     What are KPIs and why should they be important to my organisation? Monitoring business performance is crucial to the success of any organisation, and Key Performance Indicators (KPIs) are powerful tools for measuring progress towards business goals.KPIs help organisations to focus on the metrics that matter most, identify areas for improvement, and make data-driven decisions. In this blog, we will highlight the benefits of using KPIs to monitor business performance. Read more about KPIs     Payroll Management: Why is compliance and accuracy important? In the ever-evolving world of business, payroll management plays a crucial role in maintaining employee satisfaction and adhering to legal requirements.At Carpenter Box, we understand the challenges faced by businesses when it comes to implementing effective payroll schemes. In this blog post, we will explore a scenario where our expertise in payroll management came into play, helping a client navigate two distinct payroll schemes while ensuring compliance and accuracy. Read the case study     The pros and cons of being a charity Many charitable causes start off being organised and run by a small informal group, such as within a family or community, with no formal structure.However, as things grow, or there is a desire to apply for public grants or other funding, a more formal vehicle for the good cause may need to be considered. There are lots of things to think about when setting up a new entity. In this blog we have considered the pros and cons of setting up as a charity. Read the pros and cons     The Charities Act 2022: what you need to know The Charities Act 2022 is finally rolling out its changes, and the results are promising for charity trustees.  This legislation promises to simplify and empower trustees in managing their charitable organisations. However, the road to implementation has been phased, with the first wave of changes taking effect in October 2022 and the second wave arrived on June 14, 2023. In this blog post, we delve into the latest June changes, which include measures that ease restrictions on small endowment spending, streamline land disposal processes, and reinforce the Charity Commission’s role in regulating charity names. Read about the changes     Understanding the 2023 Annual Return for Charities The Charity Commission has taken a significant step forward in enhancing transparency and accountability within the charitable sector with the launch of the 2023 Annual Return.This crucial document is now readily accessible through the My Charity Commission Account service platform. The 2023 Annual Return represents a significant step toward greater transparency and accountability within the charitable sector. Embracing these changes will not only help your charity fulfil its legal obligations but also contribute to a more informed and responsible charitable landscape. Learn more     September 100-year Fundraising  To celebrate our centenary, every department within Carpenter Box has been allocated a specific month to organise activities aimed at fundraising for the Carpenter Box Charitable FoundationIn September, it was the turn of the Sustainability Working Group, a driven and passionate community that highlights our dedication to making a positive impact on the world. Our commitment to sustainability has been a cornerstone of our journey, and our Sustainability Working Group is at the forefront of these efforts.  Read about their fundraising efforts   Resources: Autumn 2023 newsletter Academies Summer/Autumn Newsletter Tax Rates 2023-24 Tax Enquiry Protection South East Property Newsletter: Spring 2023 Spring Budget Summary 2023 For a full listing of our resources and information sheets, visit our resources page on the Carpenter Box website.       Upcoming Dates 01 November 2023 Corporation tax payment due for year end 31 January 2023, for those companies not liable to pay their liability by instalments. 07 November 2023 Due date for September VAT returns unless exempted. 19 November 2023 Construction Industry Scheme: monthly return due for period up to 5th of previous month. If you pay by cheque through the post, pay PAYE, class 1 NICs, student loan deductions and deductions from payments to subcontractors for the month up to the 5th of this month. 22 November 2023 If paying electronically, pay PAYE, class 1 NICs, student loan deductions and deductions from payments to subcontractors for the month up to the 5th of this month. 30 November 2023 Filing deadline for corporation tax return self-assessment form CT600 for period ended 30 November 2023 to be submitted to HMRC. Deadline for filing your annual accounts is 9 months after your company’s financial year ends.                        

What a year it has been for Sian! Rising star 2023, Promotion to Partner, South East Young Lawyer of the Year and now ranked as Next Generation Partner 2024 for Corporate M&A by the Legal 500. Sian Webber is certainly making her mark!    As we’ve said before, Sian’s achievements this year have been amazing. She has shown herself to be not only an excellent corporate lawyer, working on many of our most significant and complex transactions, but also a spearhead for driving change at PDT where she is an elected member of the Firm’s management steering group ‘the HUB’.Managing Partner, James Clewlow commented “I never get tired of praising the wonderful people who make such a valuable contribution to our firm. Sian’s achievements have been fantastic, and we are really lucky that she is part of the team. Modest, caring, thoughtful, intelligent tenacious, kind… basically everything you look for in a lawyer. Well done Sian and thank you for all your hard work and commitment to PDT.”   Testimonials on The Legal 500 rankings describe Sian as “very friendly, and yet extremely professional" and “very hard-working, efficient and committed to achieving the best possible client outcome.”As well as Sian's success, both Noel Ruddy and Rebecca Glazebrook achieved ranking as a Leading Individual for another year due to their high-quality work, and the corporate team were ranked as a Leading firm for their M&A practice and were described as “professional, knowledgeable and exceptionally pleasant team” with a “strong commercial practice with sensible and pragmatic advice”.This is a significant achievement and a great reward for their diligence and dedication over the last year. Well done to all the team.You can view more details on the ranking and read the practice area recommendation in more detail on the Legal 500 website

The customer is always right. That is the long held ethos of many businesses, in a bid to build consumer loyalty and drive revenue growth. In recent years, however, consumers’ expectations of businesses have gone beyond the price and quality of the products on shelves. Now, many consumers seek out businesses that can actively demonstrate strong social and ethical values.Businesses have begun to use various methods to align their values with that of the general public, a popular method being certified as a B Corporation (B Corp). Since the first business achieved B Corp Certification in 2007, over 7,000 B Corps have been certified worldwide, representing roughly 670,000 employees in over 92 countries and more than 161 different industries.So, what is a B Corp, and how can a company become B Corp certified?   What is a B Corp? A B Corp is a company that has been externally accredited by non-profit organisation, B Lab UK.By having B Corp certification, a company is demonstrating that it is committed to achieving high social and environmental performance, it accepts legal accountability and it exhibits transparency with the results of its commitments.Legal accountability is often recognised as one of the highest standards of social corporate responsibility. A company seeking B Corp certification must agree to adopt stakeholder governance commitments, as opposed to just shareholder primacy, and this may require changes to be made to the constitution of the company.Stakeholder governance focuses on benefiting other stakeholders who may be impacted by the business. For example, the workers, customers, suppliers, community, and the environment. Shareholder primacy, on the other hand, focuses on the maximisation of profits and increasing equity value for shareholders.Essentially, companies with B Corp status aim to find a better balance between people, the planet and profit.   What does B Corp status entail? There are multiple steps in a company becoming B Corp certified. In summary, these include:   completing the B Impact Assessment with a score of 80 or above; passing the B Corp risk review; meeting the B Corp legal requirement; exhibiting transparency by allowing the performance of the business to be publicly available; and updating the B Impact Assessment every three years.   How can PDT help? In order to achieve B Corp status, a company must meet the standard of legal accountability. As mentioned above, this is likely to require a review of the company’s constitution (being its Articles of Association) and adopting into its constitution specific wording prescribed by B Lab UK. It is important to note that B Lab UK expects this wording to be included without amendment to demonstrate the Company’s commitment to the “triple bottom line” of people, the planet and profit.To meet the standard of legal accountability the constitution of a company seeking B Corp status will need to contain the following:Objects: the objects of the company must be broadly defined as being to promote the success of the company for the benefit of its members as a whole and to have a material positive impact on society and the environment through its business and operations.Stakeholder interests: there must be a stated commitment that the directors will act in good faith to promote the success of the company while having regard to stakeholder interests without considering the benefit of any particular stakeholder interest as more important than another.Annual report: there must be an obligation on the company to produce an annual impact report to accompany its annual accounts which sets out an analysis of the impact the company’s business has had over the year.The effect of the above is to hard-wire into the fabric of the company an ethos that does not place the interests of shareholders ahead of other interests. This is because change to B Corp status redefines what is meant by “success”. The impact of decisions made by the board of directors on employees, society and the environment must be given equal weight alongside the interests of other stakeholders. In other words, the company’s mission is more holistic and not just focused on the interests of shareholders.   Next Steps PDT are experienced in guiding clients through the B Corp legal requirement and the steps required to update the Company’s constitution.If you are considering applying for B Corp status and would like assistance with meeting the legal requirements or are interested in learning more about B Corp status, please contact Sian Webber or Noel Ruddy.