The Finance Act 2020 received Royal Assent on 22 July, confirming that from 1 December 2020 HMRC will become a secondary preferential creditor in insolvencies. This is a disappointing announcement for the insolvency industry which believes the...
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Latest company and individual insolvency statistics show little extraordinary variation and remain low when compared to the same month last year. In a bid to provide faster indicators of the impact of the COVID-19 pandemic, the Insolvency...
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If you’re looking to retire and take reserves out of your company, a Members Voluntary Liquidation may be the best strategy Economic downturns are often seen as a time of opportunity for those willing to face the challenge head on. Contemporary...
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Provisions added to Finance Bill ensure funds received through coronavirus business support schemes are included as revenue for income tax and corporation tax purposes. Recent amendments were made to the Finance Bill which is currently being...
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A key provision of The Corporate Insolvency and Governance Act which came into force on 26 June 2020, is to introduce a corporate moratorium – an extendable 20-working day period giving businesses protection from creditor action while they seek...
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Director of Sandy Hill Food and Wine Limited, Harmon Singh Madhan has been disqualified from being a director for 5 years. The investigation into the business, which ceased trading on 04 March 2019, found that Mr Madhan failed to ensure that Sandy...
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The Corporate Insolvency and Governance Act has received Royal Assent and came into force on 26 June 2020. The Act, which raced through Parliament in a matter of weeks, introduces new corporate restructuring tools and temporary easements to give...
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Despite various business-saving measures, as the COVID-19 crisis continues, it’s increasingly likely that more businesses may confront the realities of insolvency. If your employer is unable to pay creditors it may have to enter a formal...
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On 20 May, the Department for Business, Energy and Industrial Strategy (BEIS) announced the new Corporate Insolvency and Governance Bill. The Bill presents a significant reform of the insolvency and corporate governance framework and introduces...
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Throughout the remainder of the coronavirus (COVID-19) pandemic and for the immediate future, the Insolvency Service has committed to releasing monthly company and individual insolvency statistics for England and Wales, and monthly company...
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