Clarity for payment surcharges

Often added right at the end of a transaction, excessive “Payment Surcharges” for using certain payment methods are banned from 6th April 2013.

The Consumer Protection (Payment Surcharges) Regulations 2012 prohibit traders from charging consumers more than the costs they face for accepting a given type of payment, whether the transaction is concluded face to face, by telephone, or online. So although a surcharge is still permitted if the trader itself must pay that cost, an “excessive” one is not.

Legal basis for prompt payments

If cashflow is the lifeblood of commerce then The Late Payment of Commercial Debts Regulations offers a much welcome shot in the arm.

From 16 March 2013, if payment for goods or services has not been made within 30 days, late payment interest begins to accumulate. Helpfully this applies to both in the private sector and with public authorities.

The start date for the 30 day period is the latest of the date of receipt of the invoice, the delivery date for goods or services, and verification or acceptance of the goods or services.

The Growing Popularity of Lasting Powers of Attorney

We are seeing an unprecedented demand for LPAs from existing and new clients. Many are also being registered with the Court straight away so all the legalities are sorted out to avoid delays later. Private Client partner Mark Francis puts this down to increasing media interest and general awareness of the risk of loss of capacity in later years. “We all know about the importance of making a will but more and more people are asking me to draw up LPAs to ensure their trusted family and friends can look after financial and healthcare needs if they become unwell” commented Mark.