There is a recent court decision which will have a significant impact on people who get paid for outstanding invoices, before a company is wound up. It may mean that you, the supplier, get paid by your customer, but then you have to give all of the money...
Businesses that deal with the public are reminded that legislation will come into effect soon to give consumers better protection under the law than they currently have.
The Consumer Rights Act 2015 received the Royal Assent on 26 March and became law on 1 October 2015. It applies to virtually all contracts between traders and consumers for the sale of goods and services and the provision of digital content. The Act is extensive – it runs to more than 100 clauses and contains ten schedules – and is designed to offer consumers comprehensive protection and enhanced rights of redress.
Businesses affected by the new legislation can access guidance designed to enable them to comply with its requirements via the Trading Standards Institute 'Business Companion'.