Category Archives: Bankruptcy

You may be risking your entire wealth if you’re a company director for a friend or family member. – The Sydney Morning Herald

Some owners frequently risk their family finances because they don’t fully understand their legal obligations as company directors. Owners often structure a new business as a company (as opposed to a sole trader) for tax benefits and legal protection through limited liability. Being a director has huge responsibilities attached. Photo: Jon Boyes But legal experts say many…

Business insolvencies on the rise, study finds – SmallBusiness.co.uk

Business insolvencies could be on the increase in uncertain times This suggests that the financial ramifications of the Brexit vote are already beginning to hit home and businesses should prepare for the fact that there could be worse to come, according to Simon Underwood, partner and business recovery specialist at Menzies. Crucially, the 5.5 per…

15000 people to avail of personal insolvency laws – Irish Examiner

As many as 15,000 people will, within 12 months, avail of the mechanisms in new personal insolvency legislation before the Oireachtas, it has been claimed. Next months Personal Insolvency Bill will offer secured borrowers and lenders in arrears a reasonable alternative to bankruptcy, says one respected analyst. Fergus Doorly, insolvency and corporate recovery partner with…

Was Manor’s demise inevitable? – ESPN.co.uk

6:31 PM GMT One of the sad facts of life in F1 is its often transitory nature. People come and go, either tiring of the constant travel and opting for a factory role or a total career change, and teams can fold in an instant, taking hundreds of people with them overnight. Such is the…

Kate WalkerWriter for ESPN F1 – ESPN

6:31 PM GMT One of the sad facts of life in F1 is its often transitory nature. People come and go, either tiring of the constant travel and opting for a factory role or a total career change, and teams can fold in an instant, taking hundreds of people with them overnight. Such is the…

UK personal insolvencies rise for first time since 2010 – euronews

LONDON (Reuters) The number of people declared insolvent in England and Wales rose last year for the first time since 2010, after hitting a post-financial crisis low in 2015, official figures showed on Friday, raising concern about households financial health. Britains economy was the fastest-growing major advanced economy last year, despite initial fears that Junes…

UK personal insolvencies rise for first time since 2010 – Daily Mail

By Reuters Published: 02:18 +11:00, 28 January 2017 | Updated: 02:18 +11:00, 28 January 2017 e-mail LONDON, Jan 27 (Reuters) – The number of people declared insolvent in England and Wales rose last year for the first time since 2010, after hitting a post-financial crisis low in 2015, official figures showed on Friday, raising concern…

Personal insolvencies rise for first time in seven years – Credit Strategy

Official statistics released today (January 27) by The Insolvency Service, which administers the insolvency regime in England and Wales, show that total personal insolvencies reached a total of 90,930 last year. This was a 13 percent rise on 2015. This total comprised 49,745 IVAs, which were up 23 percent year-on-year and returned to the levels…

Tax bills, Tesco, cash machines and retirement – Spectator.co.uk (blog)

The taxmans failure to properly pursue the UKs richest people risks undermining confidence in the entire system, according to parliaments spending watchdog. The Guardian reports that the Public Accounts Committee has concluded that Britains super-rich appear to receive preferential treatment from HM Revenue & Customs. The MPs report, released this morning, scrutinised HMRCs specialist unit,…

UK insolvency rates static in 2016 – CCH Daily inc Accountancy Live (subscription) (blog)

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…