This months top tip - December
Welcome to the first edition of our Contractor monthly bulletin, a practical tip per month focussing on process and application issues for contract administrators.
We hope you find this useful and we do value your feedback so please feel free to contact us if you have any comments.
Pay less notices
- Pay less notices have replaced withholding notices for all construction contracts entered into after 1 October 2011.
- The Pay less notice is only issued if there is a notified sum.
- The Pay less notice must be issued within the time period agreed in the construction contract.
Before the 1 October 2011, withholding notices stated the amount proposed to be withheld and the proposed grounds for withholding. This has changed. Pay less notices must state the sum the payer considers will become due on the date the notice is served and the basis on which that sum is calculated.
Click to view a precedent pay less notice.
Thomas Eggar LLP is a limited liability partnership registered in England and Wales under registered number OC326278 whose registered office is at The Corn Exchange, Baffin's Lane, Chichester, West Sussex, PO19 1GE (VAT number 991259583). The word 'partner' refers to a member of the LLP, or an employee or consultant with equivalent standing and qualifications. A list of the members of the LLP is displayed at the above address, together with a list of those non-members who are designated as partners. Regulated by the Solicitors Regulation Authority. Lexcel and Investors in People accredited.
Thomas Eggar LLP is not authorised by the Financial Services Authority. However, we are included on the register maintained by the Financial Services Authority so that we can carry on insurance mediation activity which is broadly the advising on, selling and administering of insurance contracts. This part of our business, including arrangements for complaints and redress if something goes wrong, is regulated by the Solicitors Regulation Authority. The register can be accessed via the Financial Services Authority website. We can also provide certain further limited investment services to clients if those services are incidental to the professional services we have been engaged to provide as solicitors.
Thesis Asset Management plc, our associated financial services company, provides a comprehensive range of investment services and advice. Thesis is owned by members of Thomas Eggar LLP but is independent of and separate to it. No lawyer connected with Thomas Eggar LLP provides services through Thesis as a practicing lawyer regulated by the Solicitors Regulation Authority. Thesis is authorised and regulated by the Financial Services Authority. Thesis has its own framework of investor protection and professional indemnity cover but Thesis clients do not enjoy the statutory protection of solicitors' clients.
The contents of this article are intended as guidelines for clients and other readers. It is not a substitute for considered advice on specific issues. Consequently, we cannot accept any responsibility for this information or for any errors or omissions.