HMRC shifts greater responsibility to insolvency practitioners following cessation tax clearance services – Accountancy Age

HMRC has announced that it will no longer provide pre- and post-tax clearances in members voluntary liquidation (MVL) cases. This decision, effective immediately, has significant implications for insolvency practitioners and businesses alike. In a statement on December 6, 2023, HMRC revealed the cessation of tax clearance services for MVLs. The decision was based on the…

Metroland creditors accept insolvency proposal | Business | toronto.com – Toronto.com

Unsecured creditors of Metroland have approved an insolvency proposal by the Toronto Star’s sister company. The creditors, including former employees, voted Monday at a meeting chaired by proposal trustee Jonathan Krieger, a partner at Grant Thornton, a restructuring and insolvency consultancy. The proposal still needs court approval. The company says it intends to pay former…

Bankrupt billionaire left us high and dry: Elderly residents living at bungalow village owned by disgraced tyc – Daily Mail

Are you a resident in a RoyaleLife bungalow village? Email [email protected]  By Elizabeth Haigh Published: 03:45 AEDT, 12 December 2023 | Updated: 04:04 AEDT, 12 December 2023 Residents at a bankrupt billionaire’s bungalow village have told MailOnline of multip… Read the full article at: https://www.dailymail.co.uk/news/article-12850837/royalelife-bungalow-village-sewage-security-bin-collection-problems.html

Indie studio Triple Topping declared bankrupt, resulting in closure and making the entire team redundant – Game World Observer

With all the job cuts and studio closures, 2023 has been a rough year for developers of all sizes. Danish indie team Triple Topping has unfortunately joined the list, announcing that it had to lay off its entire workforce. Dead Pets Unleashed On December 8, Triple Topping CEO Astrid Refstrup published a statement on X…

Surge in struggling companies is good for business, says insolvency specialist – The Telegraph

Insolvency specialist Begbies Traynor is hiring more staff as thousands more companies fall into trouble. The London-listed business said it had grown its headcount by 12pc over the past 12 months in response to continuing increase in demand for insolvency services. Begbies has hired 50 more staff to work on insolvencies, taking the total headcount…

UK insolvencies rising due to high interest rates, says Begbies Traynor – The Guardian

Higher interest rates are pushing an increasing number of companies into insolvency, according to one of the UKs biggest insolvency practitioners. Begbies Traynor said it expected to see more businesses tip into insolvency in tandem with the indicators of corporate financial stress in the UK, alongside its financial results published on Monday. The Bank of…