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New taskforce to tackle phoenix firms

A new dedicated taskforce is being created to target rogue directors setting up new firms from the ashes of their failed ones to avoid repaying debts. Under a raft of measures to tackle fraud announced in the Autumn Budget, chancellor Rachel Reeves said she will give the Insolvency Service an extra £25m over the next…

UK Insolvency Service taskforce “not a quick fix”: UHY Hacker Young

The additional funding will be directed towards creating a dedicated Abusive Phoenixism Taskforce within the Insolvency Service. Credit: andriano.cz/ Shutterstock.com. Accounting network UHY Hacker Young partner Peter Kubik has called the new Insolvency Service taskforce targeting rogue directors as “a welcome first step but it’s not a quick fix.”  In the Autumn Budget 2025 presented…