News Article Listings

Date Description
16/11/2017

The potential consequence of interest rate rises

If interest rates increased by 1% then over one third of British adults would find it difficult to afford the repayments on credit agreeme ... more >

13/10/2017

New Debt Protocol: A Headache for Businesses?

1 October 2017 saw the new Pre-Action Protocol for Debt Claims (‘Protocol’) come into force.  It applies to any business &nd ... more >

29/09/2017

Statutory Interest in Members Voluntary Liquidations

As you may be aware, several months ago HMRC transferred the responsibility of dealing with solvent liquidations (or MVLs) from their ... more >

08/09/2017

Potential Dangers in Issuing a Statutory Demand

The outcome of a recent court case has demonstrated that if the party serving a Statutory Demand is deemed to have exhibited inappropriate ... more >

25/08/2017

HMRC Win In Rangers EBT Tax Case at Supreme Court

For the last 7 years HMRC have been in a legal battle over the use of employee benefit trusts (“EBT”) as a means of paying st ... more >

14/08/2017

Insolvencies Increasing and Longer Bans for Directors

Statistics revealed that personal insolvencies were substantially higher in the first quarter of this year compared to the previous y ... more >

28/07/2017

A Clean Break?

Just under a year ago we highlighted one of the more high profile Bankruptcy Restriction Orders (‘BRO’) issued to Willie Thorne, a former world-ranking professi ... more >

26/06/2017

One-in-25 UK businesses unable to repay debts if interest rates go up

Research recently published by R3, the insolvency and re-structuring trade body, shows that some 79,000 businesses (4 ... more >

09/06/2017

UK Economy Falls to Bottom of EU Growth League

With growth of 0.2% in the first quarter of 2017 the UK economy ranked last out of the 28 Countries who are part of the EU as the Brexit vot ... more >

26/05/2017

Bank of England and FCA Share Concerns About Consumer Borrowing

Recent reports suggest that the Bank of England and the Financial Conduct Authority (FCA) hold some seriou ... more >

12/05/2017

To Continue to Trade Or?

Life can very quickly become difficult for a director of a company in financial difficulty.  Often directors will continue to trade in the s ... more >

28/04/2017

Unlawful Dividends

2017 has seen press statements from a number of high profile companies that dividends to shareholders have been paid in breach of the Companies Act requirements.

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13/04/2017

The New Insolvency Rules commenced on 6 April 

The new Insolvency Rules (England & Wales) 2016 were introduced this month bringing the most significant changes in insolvency legi ... more >

31/03/2017

Business rates revaluation 

Some 510,000 businesses have seen an increase in their business rates from the start of April, compared to 420,000 paying the same and 920,000 seeing a de ... more >

20/03/2017

DO NOT PASS GO, DO NOT COLLECT £200

It is never a good idea to sound alarmist but this firm is aware of a matter regarding the disqualification proceedings for a director resulting ... more >

03/03/2017

Be prepared for a critical event... 

The vast majority of Small and Medium Sized Enterprises are owner managed and often critically reliant on the expertise and knowledge of the owne ... more >

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 of 13.1% from 201 ... 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 >