New laws to help protect company directors from identity fraud and personal harm will be introduced by the Government. The new laws will enable company directors to remove their personal addresses from the UK’s official company register on Companies House. Directors must still provide their business address as a legal requirement. This comes in response…

Judge and Priestley LLP (J&P) has announced that it has recently gained Financial Conduct Authority (FCA) authorisation. This comes in addition to its traditional authorisation and regulation by the Solicitors Regulation Authority (SRA). The move to seek FCA authorisation came in response to increasing client demands for J&P Credit Solutions (J&P CS), the debt recovery…

Ryan Maginess, director of Camereye Contracts, has been disqualified from acting as a director of a limited company for ten years. Maginess was the sole director of the company. The disqualification followed an investigation by the Insolvency Service and was ordered at Edinburgh Sheriff’s Court. The disqualification began on 11 January 2018. The investigation found that the company…

The number of debt decrees registered against Scottish businesses fell to a record low during 2017, according to figures released today by Registry Trust. There were 2,192 decrees issued against businesses in Scotland during 2017, 38 percent fewer than the previous year. The fall in decrees registered, coupled with a 58 percent decrease in the…

The Government’s focus on increasing tax through VAT is creating cash flow problems for businessesaccording to new research from Funding Options. Businesses are normally required to pay the VAT they owe once they invoice customers, rather than after they receive payment for their services. Corporation Tax, on the other hand, is only charged once a…

The Government’s BEIS Select Committee has launched an inquiry into SME Finance supply chain bullying and small business productivity. Commenting on the launch, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said “SMEs play a key role in driving innovation, productivity, employment and economic growth across the UK which the finance sector is…

The Government should extend the use of project bank accounts for all major public projects to ensure that businesses are protected against catastrophes, like Carillion’s collapse, happening again.In a letter to David Lidington, Minister for the Cabinet Office, the Federation of Small Businesses (FSB) has urged the Government to adopt the practice which would see money for…

The Financial Conduct Authority (FCA) has today launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (FOS). This follows a review of the protections available to small and medium-sized enterprises (SMEs) as users of financial services. At the moment only individual consumers and around 5.5 million micro-enterprises (the…

Britain’s complex tax system has caused a rise in the number of companies collapsing because of their debts to HMRC, according to a report. HM Revenues & Customs has emerged as the largest single creditor in 65% of cases where a business has been liquidated, a Freedom of Information request by Enterprise Tax Consultants has…

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