Howats Know How

1. Do I Need to Make a Will

Do I Need to Make a Will (link)
Making a Will Guidance Note and Form (link)

2. Powers of Attorney

A Simple, Beautiful Tool

Your nearest and dearest will be locked out of your assets if you become incapable. This can be extremely distressing as well as financially embarrassing, particularly where all or a significant part of the assets you have are in one name. Things like withdrawing money, selling shares or selling your house can  become very difficult.

A Power of Attorney document appoints someone , typically your spouse and/or son or daughter, to deal with your assets. Once signed it has to be registered by your solicitor with the Public Guardian and returned to your solicitor for retention until required.

The trick is to complete the documents before the incapacity arises; it is not competent for the document to be completed once the incapacity is established.

The cost for two including the dreaded VAT and the Public Guardians fee ( £35 per attorney document ) is around £300.

Public Guardian website

3. Regulations for Business

Twice a year, on 6 April and 1 October, changes to regulations are issued by the Government. These are called common commencement dates (CCDs). These dates are in place to ensure that businesses know about any changes well in advance, and know when to expect them. Topics covered include:

• Employment - National minimum wage; Holiday entitlement
• Companies Act 2006
• Taxes & finance - VAT invoicing
• Health & safety
• Environment
• Retail
• Trade marks

Read on to view the key changes that came into force on 1 October 2007 (link)

October 2007