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Latest News




08 Jan
2015


Posted in
General news

Director Disqualification – Why the Increase?

Recently I have noticed an increase in the number of directors being disqualified and began to wonder why this was happening? Every day I receive insolvency related news alerts and from these it was clearly visible that this number is on the rise and that there has also been action taken on smaller companies. In […]

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24 Oct
2014


Posted in
General news

Insolvency Terms – Glossary and Definitions

The insolvency world is full of terminology and jargon that can leave you confused and frustrated. So whether it’s a Voluntary Arrangement or Compulsory Liquidation, we have compiled a list of all insolvency terms and their definitions to help you better understand what they mean. The list has been arranged alphabetically. Insolvency Terms Administration: Administration […]

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10 Oct
2014


Posted in
General news

Business Failure – Why did it all go wrong?

In my role as a Liquidator or Administrator, I am often asked why a business has failed. The people that ask me this question seem to think that the recession is the main reason why a business has failed. With this in mind, I decided to do a little research and looked at the last […]

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29 Sep
2014


Posted in
General news

When VAT and PAYE Arrears can become unmanageable

I have recently come across two limited companies (not connected) who had relied on their bookkeepers to complete VAT returns and make sure that the Pay As You Earn (“PAYE”) was paid on time. In both cases, the bookkeepers seemed too scared to tell the stressed directors what arrears were building up. This meant that […]

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25 Sep
2014


Posted in
General news

The Rise of the Solvent Liquidation

Since the 1st March 2012, any solvent liquidation (members voluntary liquidation or “MVL”) with assets of more than £25,000 needs to be liquidated by a licensed insolvency practitioner to qualify for entrepreneur’s relief.

Prior to that date the distribution of assets could be done informally without the need to actually liquidate.

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01 Sep
2014


Posted in
General news

Auto Enrolment: More Red Tape for Insolvency Practitioners?

In the past, having to consider a company’s pension scheme has rarely applied, so it’s a simple box to tick on our ‘to do’ list of statutory duties. However with the recent Auto -Enrolment changes to the law, it is more likely that pension schemes will be in place for a lot of the companies that we deal with

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29 Aug
2014


Posted in
General news

Too Poor To Go Bankrupt?

Rather than waiting for a creditor to enforce bankruptcy against them, an individual who is in debt and owes more than they own, can apply for a Bankruptcy Order to be made against them by filing their own bankruptcy petition in Court. However, the fee to do so is currently £705.  People on low incomes […]

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21 Aug
2014


Posted in
General news

Insolvency Statistics – Second Quarter 2014

For over a year now I have been saying that we are coming out of recession. I have read many articles about how coming out of the recession knocks over the “zombie companies” (personally, I don’t like that term, it’s not a fair description). Maybe coming out of the recession in the early 1990’s did […]

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15 Aug
2014


Posted in
General news

The Rise and Fall of Corporate and Personal Insolvencies

As a practice based in the South West of England, insolvency is split into two parts for us. One part revoles around corporate work or helping companies in trouble. The other, is personal work, which involves individuals either in business or have run up debts as a consumer. The recent ‘Insolvency Service statistics’ for the […]

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