The Corporate Insolvency and Governance Act has received Royal Assent and came into force on 26 June 2020. The Act, which raced through Parliament in a matter of weeks, introduces new corporate restructuring tools and temporary easements to give...
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Despite various business-saving measures, as the COVID-19 crisis continues, it’s increasingly likely that more businesses may confront the realities of insolvency. If your employer is unable to pay creditors it may have to enter a formal...
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On 20 May, the Department for Business, Energy and Industrial Strategy (BEIS) announced the new Corporate Insolvency and Governance Bill. The Bill presents a significant reform of the insolvency and corporate governance framework and introduces...
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Throughout the remainder of the coronavirus (COVID-19) pandemic and for the immediate future, the Insolvency Service has committed to releasing monthly company and individual insolvency statistics for England and Wales, and monthly company...
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A Time to Pay (TTP) Arrangement with HMRC is an agreed debt repayment plan for your outstanding taxes. Companies that are likely to miss or have missed payments to settle their Corporation Tax, VAT and/or PAYE can ask HMRC for extra time to...
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Director of Proudley Farms Limited, David Paul Proudley has been disqualified from being a director for 6 years. The investigation into the business, which was liquidated on 25th March 2019, found that Mr Proudley failed to ensure that Proudley...
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With the current COVID-19 crisis many businesses have been hit hard, none more so than those in the retail sector. This follows several tough years which has seen many great British Brands disappear from the high street. Debenhams announcing this...
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Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
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GUEST ARTICLE: Our colleagues at insurance recovery specialists, Flag Partners, share their insights on insurance coverage issues relating to the Coronavirus. We have had a number of enquiries regarding business interruption insurance coverage due...
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There is no one size fits all response to COVID-19, but for businesses facing the challenge there are practical actions to consider as the lockdown continues. Cashflow Prepare forecasts for the short and medium term Analyse best and worst...
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