The insolvency statistics released for March 2024 show that of the 1785 registered company insolvencies: 1,436 were CVLs which is 29% lower than in March 2023 228 were compulsory liquidations which is 25% lower than March 2023 There...
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The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
Read more...Of the 2,102 registered company insolvencies in February 2024: There were 1,707 CVLs which is 12% higher than in February 2023 217 were compulsory liquidations which is 35% higher than in February 2023 There were 166...
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A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
Read more...It’s tempting to not think past the end of December and the Christmas break, but a little pre-planning now could save you heartache and insolvency later. Inflation, interest rate rises and the cost of living will continue to impact cashflows so...
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The Debt Respite Scheme is the official name for Breathing Space, a government programme that grants those individuals in debt a break from the stress of missed payments and a chance to catch up financially. If you’re struggling to pay off your...
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It’s often the case that January is written off, what with the recovery from the pre-Christmas rush and the subsequent focus on the end of January deadlines for tax returns. But spending some time making sure that you are “business fit” will...
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HMRC paused many of its debt collection activities during the COVID-19 pandemic and has been delivering support packages like the Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. Now that these support measures have come...
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A construction company, Pazhar Zvezdy Ltd, was wound-up in the public interest in the High Court earlier this year. The company traded as a residential and commercial construction company, but, following complaints,...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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