Time is running out to use a Members Voluntary Liquidation…

The tax rules change on the 6th April 2016 restricting what HM Revenue and Customs call ‘phoenixing’ of a business. From then on anyone restarting a similar business within two years of liquidating a previous one and claiming Entrepreneurs Relief (“ER”) will be back taxed on the distribution as income tax. It has always been […]

The Government Pension Protection Fund – Guidance For Insolvency Practitioners

The government Pension Protection Fund (“PPF”) has issued guidance to insolvency practitioners when acting as administrator in a pre-pack from 1st July 2015. Normally, the person who was the administrator becomes the subsequently appointed liquidator. In essence, the PPF may look to have the proposed appointed liquidator or supervisor of a Company Voluntary Arrangement replaced […]

Insolvency Statistics: October – December 2015

I am a Licensed Insolvency Practitioner which means I act as the Liquidator to companies or as a Trustee in Bankruptcy to individuals who become bankrupt. Probably the most common question I am asked is ‘are we coming out of recession’? Well the answer is clearly yes. The statistics just released by the Insolvency Service […]