The latest statistics published by the Government’s Insolvency Service have shown that the number of companies going into liquidation has increased in the first three months of 2017. In the period January to March there were 3,529 company liquidations, an … Continue reading
Category Archives: Business debt
The tax man is threatening to wind up my business – what can I do?
A very common reason for business owners to contact us is that they have been threatened with winding up by HM Revenue and Customs (HMRC). This is bound to cause sleepless nights about what to do next. The good news … Continue reading
Changing business type? It pays to get it right
In my role as an insolvency practitioner, it is a sad fact of life that I am often approached by company directors who have decided to close their companies and put them into liquidation as they have exhausted their options … Continue reading
New company rescue proposals put forward
Insolvency trade body R3 has made a series of proposals for introducing a new raft of provisions which would create better opportunities for companies to be turned around, with the aim of rescuing more businesses. The body has called for … Continue reading
Business failure can be a positive thing
As an insolvency practitioner, it may be easy for me to say that a business failure can be a positive thing, but I know that this may be hard to accept for business owners who are facing that situation. … Continue reading
UK SMEs owed billions in unpaid invoices
UK small and medium sized businesses are owed £67.4bn in unpaid invoices , an increase of 8% from last year and 36% from £49.5bn in 2011, according to new research from the Asset Based Finance Association (ABFA). The rise is … Continue reading
Over-trading: how to avoid the biggest threat to most businesses
It seems clear that the economy is now moving in the right direction, albeit slowly, as the damaging effects of the deepest, longest recession in living memory start to fade. If you read a newspaper or watch the TV news, … Continue reading
Fewer businesses in distress as economy bounces back
The number of British businesses showing signs of distress has reduced dramatically according to new research published today. However a large number of businesses are still under pressure, with a third of businesses still in need of help. The research, … Continue reading
Tough times for accountancy firms
Research carried out by my colleagues at Moorhead Savage has shown that there has been a huge increase in the number of accountancy firms going into liquidation in recent years and the trend is for more firms to become insolvent … Continue reading
What to do if faced with a Winding Up Petition
Winding up petitions are usually used by creditors as a way of enforcing a debt that is owed to them, either by a company or a partnership. A petition may be presented by a single creditor, or by a group … Continue reading