The Government has announced that it is pushing ahead with proposals to prioritise the repayment of some tax debts in insolvencies from April 2020. The extra money which will be repaid to HMRC under these proposals will come out of funds which would otherwise have been paid to creditors including pension schemes, trade creditors, lenders,…

Begbies Traynor has announced that it has appointed Andrew Maitland as Senior Insolvency Administrator to help grow its presence across the Humber region and North Lincolnshire. With seven years’ experience working for accountants and insolvency practitioners, Maitland takes up the position of senior insolvency administrator with Begbies Traynor.  In his new role, he will be…

One-fifth of self-employed sole traders don’t survive one year, and the majority don’t survive five according to new analysis of HMRC tax records by researchers at the Institute for Fiscal Studies, funded by the Office for National Statistics through the Economic Statistics Centre of Excellence (ESCoE) and the Economic and Social Research Council. The findings also…

Insolvency and restructuring firm CVR Global has bolstered its senior team to support its growing international offering with the appointment of Darren Reeds. Reeds joins the firm as a Partner from Deloitte where he was Head of Financial Advisory Services for their insolvency and restructuring division in the British Virgin Islands. Reeds has spent five-and-a-half…

In June, the following administration notices have been issued and advertised in the London Gazette for the following companies: A G BAKER FENCING LTD ACI FINANCIAL LTD AFFINITY CORPORATION LTD AGS SUPPORT LTD AIM HIRE GLOBAL LTD AMICUS RENEWABLES LTD ATLANTIC FINANCE (UK) LTD BATMART INTERNATIONAL LTD BEAMISH TRANSPORT LTD BENNETT MANUFACTURING SERVICES LTD BOOTH…

Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: BACK TO BACK CARE LTD BALLYCOLM CONTRACTS LTD BANDENIA FIDUCIARY MANAGEMENT LTD BANGOR CITY FOOTBALL CLUB LTD BCS MEDICAL (SHACKLETON) LTD BEAT STREET MANCHESTER LTD BEAT TV LTD BECKLEY DESIGN & CONSTRUCTION LTD BEST ELECTRICAL EUROPE LTD BEVERLY…

The Insolvency Practitioners Association (IPA), the membership body and regulator for those specialising in insolvency practice, has published its first formal strategy to deal with the requirements placed on the IPA as a Professional Body Supervisor (PBS) under the 2017 Money Laundering Regulation (MLR17). The strategy is an important part of the IPA’s work in…

The number of business failures in 2018 in the Scottish construction sector was the highest annual figure since 2014 and this year looks on target for a similar number according to new analysis of the sector by leading accountants and business advisers French Duncan LLP. In 2018 202 businesses in the construction sector went through…

There are likely to be many more Company Voluntary Arrangements (CVAs) for retailers following the recent agreement for the Arcadia group as the sector’s problems continue according to a leading insolvency practitioner. Eileen Blackburn, head of Restructuring and Debt Advisory at French Duncan LLP, said that the issues which led to the Arcadia CVA persist…

Company boards will now be held accountable for payment practices to small businesses within their companies in a drive to increase transparency and accountability on late payments. Measures will force Audit Committees to report payment practices in company annual reports. The government will consult on strengthening the powers of the Small Business Commissioner to hold…

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