The Insolvency Service has handed out 573 director disqualifications lasting more than five years in 2016/17, the highest figure since 2010/11. In 2015/16, it handed out 532 bans. Data from the regulator showed that, in total, there were 1,214 director disqualifications in 2016/17, compared with 1,210 one year earlier. The regulator said the average period of…

The number of debt decrees registered against Scottish companies rose by 21 percent during the first quarter of the year, according to figures released today by Registry Trust. Over the same quarter the average value of a company decree rose by five percent. By contrast decrees against businesses which were not incorporated moved strongly in…

Companywatch has appointed Jo Kettner (née Roberts) as its new Chief Executive Officer (CEO). Kettner takes over the firm’s leading executive role from co-founder and former CEO Denis Baker who will remain with the firm as a board director and full-time member of staff. Since 2003, Kettner has held a number of roles at Company Watch. Initially…

The latest results Insolvency statistics from The Insolvency Service for Quarter 1 (January to March 2017) reveal that Company Insolvency numbers have gone down. The main findings of the report were: Total company insolvencies in Q1 2017 decreased compared with the unusually high level in the previous quarter, when a large number of connected personal service…

Creditsafe has been granted full Financial Conduct Authority (FCA) authorisation. Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA. It is further evidence of our commitment to deliver excellence…

HM Revenue and Customs has launched a new hotline for the public to report fraud and evasion in the fight against tax fraud. This service will replace the two separate tax evasion and customs hotlines with one, streamlining HMRC’s intelligence gathering on tax fraud. Customers can report all kinds of tax fraud and evasion on the…

Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 4FRONT CLEANING LTD ‎A & D HOMES LTD A & R HEATING & PLUMBING LTD A M GAS SERVICES AARON WEBSTER LTD ABSOLUTE HOME TEXTILES LTD ACTIONWAY LTD AE SYSTEMS LTD ‎AERIAL CREATIONS LTD ‎AGILE CONVEYANCING SEARCHES LTD ‎AGP STEEL…

Small businesses chasing payment for overdue invoices achieve significantly better results by sending solicitor’s letters, known as a letter before action (LBA), according to new research from fintech firm Ormsby Street. Two-thirds of LBAs sent will result in a small business being paid within seven days, while two-thirds of overdue invoices will remain unpaid after one…

In 2016, insurance company Zurich found that more than 53% of Britain’s small and medium sized businesses (SME) have issues with late payments with 41% of those experiencing serious cash flow problems as a result. According to Zurich’s SME risk index, £225bn is owned in late payments to British SMEs and two-thirds of UK SMEs agree that…

Business failures across West Dunbartonshire have left a trail of debt. The council has written of £535,646 in unpaid business rates, the total amassed by firms across the area who have either dissolved or gone into liquidation Councillors on West Dunbartonshire Council’s corporate services committee agreed to write off the National Non Domestic Rates (NNDR),…