Although a common buzzword at the moment within the accounting industry, research from R3 suggests that the number of zombie firms in the UK is actually subsiding. Whilst 2012 saw an estimated peak … [Read more...] about Zombies Dying Out
1 In 6 Enter Retirement With Debts
With thousands of people planning their retirement this year, staggering new research from Prudential has shown that one in six will enter retirement with heavy debts, averaging at £24,000. The … [Read more...] about 1 In 6 Enter Retirement With Debts
What is Problem Debt?
With the release of a new survey from Step Change this week highlighting that 15m UK adults are likely to be suffering from ‘problem debts’, we all need to take a closer look at what a problem debt is … [Read more...] about What is Problem Debt?
Creditors Lose £5.8m as Printer Enters Administration
Colourhouse Ltd, a Deptford based printer entered administration in November last year, with a book debt of £1.9m, and the outlook for distributions is exceptionally bleak for creditors. This case may … [Read more...] about Creditors Lose £5.8m as Printer Enters Administration
Insolvency Analysis – What is a CVA?
After recent consultation documents have been released on Company Voluntary Arrangements, potentially because of its increasing popularity over liquidation, it seems like a good time to have a brief … [Read more...] about Insolvency Analysis – What is a CVA?
HMRC Task Forces net £100m
Following on from an article we talked about last week, regarding HMRC clamping down on undeclared landlords, the special ‘task forces’ set up by HMRC will announce this week the seizure of more than … [Read more...] about HMRC Task Forces net £100m
Corporate and Personal Insolvencies down in Q3
Evidence released from The Insolvency Service has shown that both corporate and personal insolvencies have fallen in Q3 of 2013, although analysts suggest not everything may be rosy. In regards to … [Read more...] about Corporate and Personal Insolvencies down in Q3
Administrations down 16.4%
Within the first three quarters of 2013, UK businesses entering administration has fallen by 16.4%. New figures from Deloitte show that within the first nine months of 2013, only 1,224 businesses … [Read more...] about Administrations down 16.4%
UK SME’s Avoiding New Debts
Small and medium owner-managed firms within the UK are currently avoiding taking on additional debt a new report has suggested. The OMB, Owner-Managed Business, Barometer report, from the Bank of … [Read more...] about UK SME’s Avoiding New Debts
Three Further Companies Wound-Up For The Misleading Promotion Of Pre-Packs.
A further three companies have been wound up in the public interest by the High Court as part of on-going investigations by the Insolvency Service over the last six months. This brings the total … [Read more...] about Three Further Companies Wound-Up For The Misleading Promotion Of Pre-Packs.