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Corporate Insolvency to Rise in 2011, Despite Xmas Boost
Research carried out by insolvency trade body R3 has found that nearly 50 per cent of UK businesses are currently experiencing falling profits. The new ‘Business Distress Index’ found that 750,000 businesses had seen a reduction in their sales volumes and 32 per cent had experienced a recent fall in market share. Last year, a…
Read MoreInsolvency Fees and Charges: Honda Dispute Highlights Need for Reform
A recent court ruling into the conduct of administrators at BDO and PKF highlights the need for an independent review into insolvency practitioners (IPs) and their regulations – something I’ve been blogging about for many months. The dispute centred on Formula One team Super Aguri whose directors appointed three joint administrators from PKF following the…
Read MoreIf Your Business is in Debt, a Winding Up Petition Could Follow Sooner than You Think
Around one in five businesses in the UK are worried about the amount of debt they currently owe creditors. Whilst most debts accrued by small businesses are owed to HMRC, owners are in fact more concerned about trade debts. Businesses deal with these types of debts on a daily basis, and so they can seem…
Read MoreImproved Business Models, Not Foreign Players, Will Save English Football
Over the past five months, I’ve posted several blogs highlighting the need for executives and club chairmen to change their business models if they want English football to maintain solvency. It seems English Football League Chairman Greg Clarke may have been following these posts and taken some of my advice as he’s embarked on an…
Read MoreWinding Up Petitions Increase, But Are They Being Served Correctly?
Winding up petitions issued by creditors against firms based in Central London increased by 39 per cent in October 2010 compared with 10.5 percent in the rest of the country, a new study has revealed. The increase is simply a reflection of the government cutbacks and will probably continue throughout 2011. It’s also evidence that…
Read MoreWhy Have HMRC’s Time to Pay Schemes Plummeted? It’s All Politics, Darling
Official figures have revealed a rapid drop in the number of Time to Pay (TTP) schemes approved by HM Revenue & Customs (HMRC) in the past few months. The business support scheme introduced by the Labour government at the start of the recession to support struggling firms was initially overwhelmed, with 82,000 arrangements granted in…
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