News Article Listings

Date Description
17/02/2017

Personal Insolvencies Increase…for the First Time in Seven Years

90,930 people became insolvent across England and Wales during 2016.  This represents a rise ... more >

03/02/2017

Corporate Administrations on Upwards Trend

Numbers from the London Gazette indicate that 1,174 companies or groups were placed into administration in the UK during 2016, compared with a 1 ... more >

20/01/2017

Void Dispositions and Validation Orders in Compulsory Liquidation

Section 127 of the Insolvency Act 1986 (“The Act”) applies to transactions entered into by a company between ... more >

06/01/2017

The new Insolvency Rules – All change for creditors

The introduction of the new Insolvency Rules on 6 April 2017 will bring significant protocol changes for creditors as well as for ... more >

23/12/2016

Could the restaurant trade be effected by Brexit? 

As the UK negotiates a deal for Brexit with Europe, this could have a negative effect on the restaurant trade.  Recent reports ... more >

02/12/2016

Flat Rate VAT Chat

A number of businesses use the VAT Flat Rate Scheme (‘FRS’) because it is designed to simplify record keeping and make it easier to work out the VAT due.&nb ... more >

18/11/2016

Around 70% of Administrations Fail 

Research has been carried out by Opus Restructuring, a restructuring and insolvency firm, using data provided by Company Watch, a financial analyt ... more >

04/11/2016

Gender inequality in personal insolvencies?

It has recently been reported that – continuing a trend that commenced in 2014 - young women made up the majority of personal insolvencie ... more >

28/10/2016

The new Insolvency Rules - an update

You may recall our news item in August providing a summary of the likely noteworthy changes anticipated in the forthcoming introduction of the new Ins ... more >

21/10/2016

Inflation rises ahead?

Economists are predicting that as the rising oil prices push up the price of petrol, inflation will increase sharply potentially as high as 3% in the next few month ... more >

14/10/2016

HMRC Asset Seizures on the Rise 

The number of businesses that have had their assets seized by HMRC has more than doubled in the past year according to a recent study by Funding Opti ... more >

07/10/2016

Your dwelling as a Registered Office 

Is it a good idea or not?

We all know a registered office is a legal requirement for corporate bodies (typically limited companies and ... more >

16/09/2016

The dangers of pre-payments 

We have recently dealt with the liquidation of a company whose business model relied on customers pre-paying for the goods in advance.  The circumst ... more >

09/09/2016

Auto Enrolment and Directors 

After persistent lobbying the government has now published a set of rules on whether directors are required to be enrolled into company auto enrolment s ... more >

02/09/2016

Bad Debt Problems and SMEs

Recent studies have shown that more than a quarter of Small and Medium Enterprises (‘SMEs’) in the UK suffer from bad debt.  Indeed, in the las ... more >

26/08/2016

Insolvency Rules 2016 – a summary of significant changes 

As you may already be aware, the existing Insolvency Rules have been under review for some time as Insolvency was the ... more >

18/08/2016

Service industry decline could lead to recession 

The largest section of the British economy, the services industry, has recently endured a substantial monthly decline, the rate of w ... more >

05/08/2016

Snookered 

The Enterprise Act 2002 (‘EA’) brought in a number of changes for bankruptcy, most significantly that the typical duration of the restrictions on a bankrupt we ... more >

29/07/2016

Proposed Changes to Consumer Deposits Treatment in Insolvency

A review undertaken by the Law Commission has made recommendations on the way consumer deposits and retail vouchers should be ... more >

22/07/2016

Keep calm and carry on? - Brexit plus 4 weeks 

Timeline 24 June 2016 - The United Kingdom votes to leave the EU; the value of sterling falls to its lowest level since 1985, the FTSE ... more >

15/07/2016

SMEs Bracing to Battle Uncertain Economic Future

According to a poll conducted by the Institute of Chartered Accountants of Scotland, 4 out of 5 SMEs are not optimistic surrounding the fu ... more >

08/07/2016

July 2016 Changes to Official Receiver’s Fees

It has recently been reported that the raft of fees applied by the Insolvency Service, to personal and company insolvencies, are changi ... more >

01/07/2016

Aftermath of the Brexit vote 

Now that the news of the outcome of the Brexit vote has had time to sink in, urgent consideration should be given by senior management teams to the imme ... more >

24/06/2016

EU Brexit vote causes shares and pound to fall

The consequences of vote for Britain to leave the European Union seems to have an immediate economic effect.  The value of the pound ha ... more >

17/06/2016

Gearing up for directors 

The backbone of the economy of UK plc is supported by a large number of owner managed, small to medium, enterprises many of them limited companies.  Th ... more >

15/06/2016

WSB INVESTMENT LTD – IN LIQUIDATION 

FORMERLY TRADING AS BINARY BOOK

On 14 March 2016 a Winding-up Order was made by the High Court in England to put WSB Investment L ... more >

03/06/2016

Proposals for Insolvency Regime Change

The Department for Business, Innovation and Skills has launched proposals for changes to the insolvency regime, including a three-month moratorium f ... more >

27/05/2016

The teeth of the regulatory system

The Insolvency Service recently reported on the circumstances resulting in a director disqualification of eight ... more >

20/05/2016

Poor Outlook on Wage Rises

Weak productivity and increased costs such as; the national living wage, apprenticeship levy and pension auto-enrolment have curbed employers’ willingness ... more >

13/05/2016

BHS Moves Into Administration

It was recently reported on this site that, in a bid to try and turn its financial fortunes around, British Home Stores (‘BHS’) was proposing a C ... more >

06/05/2016

Economic uncertainty leads to increase in trade credit insurance claims 

The Association of British Insurers (ABI) most recent Trade Credit Insurance survey has shown a 19% increase ... more >

29/04/2016

A slowdown in UK economic growth

Falling UK retail sales in recent months together with average store prices being lower in March than a year earlier indicate that inflation in the UK is ... more >

15/04/2016

Director Conduct Reporting Process 

The Insolvency Service has announced changes to the way Insolvency Practitioners submit conduct reports on directors. From 6 April 2016, they will ... more >

08/04/2016

Auto enrolment – are your savings safe?

Workers retiring on the new state pension rate may expect to receive £155.65 per week but a study has predicted that 55% of claimants w ... more >

01/04/2016

Bankruptcy goes online 

The law has been changed so that, from 6th April, people will be able to go online to go bankrupt.

The Government argues that “the decision to t ... more >

24/03/2016

Persons with Significant Control (‘PSC’) Register

Are you compliant? What is it?

From 06 April 2016 all UK corporations and LLPs must identify those who are their ulti ... more >

18/03/2016

BHS and the CVA

It has recently been reported that the department store chain BHS (British Home Stores) is in serious financial difficulties and that 40 of its 164 stores could potentiall ... more >

11/03/2016

Where is the value in my company data?

Not so long ago businesses only needed to concern themselves with preventing people from physically entering company premises and accessing importan ... more >

04/03/2016

Could the UK’s exit from the EU effect your business?

The potential exit of the UK from the EU, following the referendum in June, has led to economic uncertainty which would alleged ... more >

26/02/2016

Employment law snippets

Owner/ managers of SMEs are increasingly expected to grapple and come to terms with employment legislation…take the ... more >

12/02/2016

Judgement clarifies law of wrongful trading

In a judgement on 11 February 2016, between the joint liquidators of Ralls Builders Limited and the former directors, Mr Justice Snowden review ... more >

05/02/2016

Chancellor’s attack on use of Solvent Liquidations 

Time is of the essence if your clients wish to avoid having to deal with the new rules.

Under the current r ... more >

29/01/2016

100,000 Businesses Owed Money by Insolvent Companies & Individuals

Figures have been released which show that 113,000 businesses, which represents about 6% of all UK companies, were c ... more >

22/01/2016

Late Payment of Debts Stifle SMEs 

It has recently been reported – following a poll of 1,000 business - that almost 23% of the UK’s Small and Medium-sized Enterprises (SM ... more >

15/01/2016

Problems with further Auto Enrolment delays?

Auto enrolment was first proposed by the Pension Commission to address the employee ‘under saving’ issue as far back as 2005. At t ... more >

08/01/2016

The End of No-win-no-fee 

The 2012 Legal Aid, Sentencing and Punishment of Offenders (LASPO) Act served to abolish Conditional Fee Agreements (“CFA”), or ‘No Win, N ... more >

29/12/2015

Well that’s a relief

Regular readers will have seen the recent rise in personal insolvency statistics and the issue is brought home at this time of year when we might flex the plast ... more >

18/12/2015

Changes to the Treatment of Distributions in a solvent Liquidation 

In company law, a distribution in respect of share capital during a winding up is not currently treated as an inco ... more >

11/12/2015

Justice denied ?

In November 2015, the trade body of the insolvency profession, R3, led a coalition of ten business organisations in writing to the Justice Secretary Rt Hon Michael Gove M ... more >

04/12/2015

HMRC Urged to Stop Bankrupting Individuals Using Advanced Penalty Notices 

Under new powers introduced last year H.M. Revenue & Customs (‘HMRC’) can demand disputed a ... more >