In litigation there is often, maybe always, a disagreement as to what happened and/or when it happened.Litigation backdating looks bad and is bad because it is an attempt to gain an advantage in a dispute. Most importantly the judge, jury or arbitrator doesn’t know the people or the situation involved and simply can’t judge normal.When business people legitimately backdate documents everyone affected by the documents agrees on the backdating.Business backdating is done to document what has happened and what everyone expects to continue. In litigation, by definition, everyone does not agree.The company that experiences this loss can either self-insure, meaning that it pays for the loss itself, or can try to purchase a backdated liability insurance policy that will cover the loss.
They leave a clue; however, when a document says it’s is effective “as of” a date you can bet it was actually executed after that date.
What’s more, not a single time did the proponent of the backdated document think it was even a little shady, and was totally surprised when I told them the backdated document was at best useless and potentially harmful. In business the notion that paperwork sometimes needs to catch up with the flow of products, services and money is absolutely ordinary.
Many times you don’t, or can’t, know what the transaction will look like until after it is started.
Any appeals received by the Valuation Office Agency (VOA) on or after that date, can only be backdated to 1 April 2015.
This means that many small businesses could potentially lose out on up to five years of savings.
Search for backdating business:
By Daniel Hunter National small business organisation, the Forum of Private Business is warning that the clock is ticking for small firms who have yet to submit backdated appeals for business rates, ahead of a major shakeup next month.