Everyone dreads being unable to pay bills but for an unlucky few debt problems can become a life-consuming reality in which bankruptcy may be the best (or only) route out. Bankruptcy is a legal status that, in certain circumstances, may provide the...
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A Liverpool-based publisher was charged with misleading clients into believing they were advertising in magazines that supported the emergency services. Harlequin Print Ltd was wound up in the public interest on 27 August 2020 in the High Court,...
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The boss of a hospital fittings and equipment supplier received a nine-year disqualification after he was caught breaching his previous ban. Medisafe Systems was incorporated in March 2010 and traded as a hospital fittings and equipment supplier....
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Are you a contractor with a Personal Service Company (PSC)? Does the IR35 Reform affect you? If so, it may prove advantageous to change your employment status and liquidate your company using an MVL. The IR35 off-payroll reforms came into...
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Latest company and individual insolvency statistics remain low overall, but administrations increase by 25% in July 2020 following the failure of two corporate groups. The latest monthly release of insolvency statistics for England and Wales was...
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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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