Insolvency Service statistics show the total number of company insolvencies was higher in 2016 than the previous year, primarily because of 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. Taken this into account, the underlying number of company insolvencies was broadly unchanged in 2016 compared with 2015.
However, the year-end liquidation rate increased for the first time since 2009. The estimated liquidation rate in 2016 was 0.47% of active companies, compared with 0.44% in 2015.
While individual insolvencies rose in 2016, this was the first increase since 2010 and the total was still at the second-lowest level in 11 years. The increase in 2016 was driven pr…
Read the full article at: https://www.cchdaily.co.uk/uk-insolvency-rates-static-2016
