Report price gouging business

The Competition and Market Authority (CMA) encourages the public to report price gouging business during this Coronavirus (COVID-19) outbreak. You can do this online. The CMA has received many complaints about huge price increases for essential products needed during this pandemic.

such as hand sanitizer, paracetamol, flour, meat, toilet roll, rice and eggs.

The price gouging businesses are taking advantage of consumers during this pandemic. This is poor business behaviour and should stop. If you encounter any such poor business behaviour, please report them to the CMA using the link below.

Examples of Poor business behaviors to report

  • Unfair prices for products or services I’m buying for me and/or other people
  • Unfair prices for business-to-business sales
  • A business making misleading claims about products or services
  • Problems with the cancellation, refund or exchange of products or services
  • and any other unfair behaviour you encountered

The most commonly reported price hiked products are listed below. To report, you must provide a description of the product, the current raised price and the original price before the COVID-19 outbreak.

Food products

  • Long life milk
  • Pasta
  • Meat
  • Halal meat
  • Eggs
  • Flour
  • Rice
  • Fruit or vegetables
  • Baby formula
  • Other food product
  • Hygiene & personal care products

Hand sanitizer

  • Toilet roll
  • Other hygiene product

Medical products

  • Paracetamol
  • Ibuprofen
  • Antiseptic
  • Other medical product
  • Other product

Similarly, If the product or service you would like to report not listed above, you can provide a description of the product, the current raised price and the original price before the pandemic.

You must indicate in the online form where did the poor business behavior happen? whether online or in store etc.

Do take note of the business name and address where you encounter this poor business behaviour and also the date of the event. Even better if you could provide evidence such as a screenshot, a photograph or a receipt.

You must declare if you are happy to be contacted for more information. Then you click SUBMIT the complaint form.

Companies House filings

During this COVID-19 outbreak, Companies House encourages its customers to submit documents online.  You can submit the following documents online.

All you need is your company’s authentication code issued by Companies House. The authentication code is the electronic equivalent of your company’s director(s) signatures. Keep safe your authentication code.

Companies House announced temporary changes to filing requirements on 1 July 2020. You will get an automatic extension of your company account and confirmation statement filing deadline. You can check your document’s filing due date from the Companies House website.

Companies House has also created an interim paperless filing service to accept documents which must be delivered on a paper form with a live signature.

If you require help with your UK company’s filings, contact us. Our accountants can help you.

New polymer £50 note

The Bank of England will issue new polymer £50 note in the year 2021. The new polymer note will feature the famous hero, Alan Turing.

Feature portrait of Alan Turing

Alan Turing was famous for his invention of code-breaking machines during World War II. He broke the German Enigma code leading to Allied victory over Nazi Germany.

Alan Turing was born on 23 June 1912 in Maida Vale, London. Maida Vale is not far from Regent Street London. He was a mathematical genius.

There is a movie made in 2014 based on the real-life story of Alan Turing. The movie is called “The Imitation Game”. You must watch this movie!

Current £50 note

You will still be able to use the current £50 note until the Bank of England withdraws it from circulation. The Bank of England will announce the official withdrawal date after the new polymer £50 note is issued. Normally, at least three months notice.

Correspondingly, you can always exchange your old £50 note with your bank, Post Office or with the Bank of England.

Payments to Companies House

The new polymer £50 note would not affect the way you pay Companies House. Usually, Companies House would not accept cash for payment of their statutory fees. This includes the following filings with Companies House.

Generally, you are required to pay Companies House either by cheque, postal order or using a debit or credit card or electronically.

If you require help with your limited company’s filings with Companies House, contact our accountants. We would be able to assist you.

Social distancing at 2m or 1m with risk mitigation

The current social distancing rule to stay 2m apart affects many businesses in the UK. It is simply not commercially viable. From 4 July 2020, more London businesses are to reopen like the Restaurants and bars in Westminster etc. The UK Government announced from 4 July 2020 businesses to reopen can adopt the social distancing at 2m or 1m with risk mitigation. Where keeping the 2m social distancing rule is not viable.

Full review of two-metre social distancing guidance was published today by the Cabinet Office.

If your business is going to adopt the social distancing at 1m, you must consider and set out the steps you take to mitigate the risks of transmissions. According to the Scientific evidence published by the Government, the risk of transmission increases by 2-10 times at 1m compared to 2m. And, the transmission risk at 2m is small.

For this reason, it is vital that businesses take precautions to reduce the level of transmission risk at 1m so that it is broadly equivalent to being 2m apart. So that everyone can stay safe.

The social distancing at 2m or 1m with risk mitigation will increase businesses’ capacity and allow more people to return to work. Good news to our UK economy.

How COVID-19 is transmitted?

According to the Government’s publication, COVID-19 is transmitted in 3 ways.

1. Direct person-to-person contact – if an infectious person breathes droplets on you or you pick them up through physical contact with an infectious person.

2. Contact with a contaminated surface – if you touch a surface contaminated with the virus and then touch your nose, eyes or mouth, you may be infected.

3. Aerosol transmission – fine droplets of liquid containing the virus are breathed out, form an aerosol and are carried through the air. You may become infected if you breathe these in.

Source: GOV.UK

Encourage contactless approach

Encourage contactless approach where possible. For example, Companies House handles 4.3 million companies records. During this COVID-19 outbreak, they encourage their customers to submit documents online.

 You can submit the following documents online with Companies House.

All you need is your company’s authentication code issued by Companies House. The authentication code is the electronic equivalent of your company’s director(s) signatures. Keep safe your authentication code.

If you are unable to complete your company accounts due to the interruption from this COVID-19 outbreak, you can apply to Companies House to extend your company accounts filing deadline without incurring a late filing penalty.

Companies House also created an interim paperless filing service to accept documents which would normally require a live signature.

If you require help with your UK company’s filings, contact us. Our accountants can help you.

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