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UK company insolvencies begin to rise after 2016 ‘tipping point’

UK company insolvencies are on the increase following a 'tipping point' in the second quarter of 2016, according to a report from trade credit insurers Euler Hermes. The nation is currently predicted to see a similar total number of company insolvencies in 2016 as in...

EU plans ‘early warning system’ for corporate insolvency

The EU is reportedly planning to introduce a kind of 'early warning system' to alert banks to the risk of corporate insolvency among their business customers. According to Reuters, the move comes as lenders across the eurozone are owed around €1 trillion on...

Charities urged to seek insolvency advice early

Charities facing financial difficulties have been told to seek insolvency advice early in order to achieve the best outcomes for their beneficiaries. After a number of high-profile charity collapses, the Charity Commission undertook a review of financial resilience in...

1 in 4 corporate insolvencies triggered by late payment

Nearly a quarter of corporate insolvencies in the past 12 months were caused by late payment by customers, according to figures from R3, while one in five were triggered by the failure of a key supplier or customer. The organisation, which represents the business...

Property tax warning as asking prices pass IHT threshold

Our Manchester accountants have become aware of a property tax warning from over-50s financial services provider Saga, in light of the fact that some properties now being sold in the city single-handedly exceed the nil-band allowance for inheritance tax.

BHS corporate recovery begins following final stores’ closure

The notion of 'corporate recovery' might seem out of the question in relation to the BHS brand, following the closure of the final high street stores in the chain on August 28th. After 88 years as a high street stalwart, the brand - formerly British Home Stores -...

A property accountants view of Brexit

In our previous article, we looked at Brexit from the point of view of healthcare accounting, but it is also important to consider the impact of the EU Referendum on the work done by our property accountants - and for anyone with an existing rental property portfolio,...

More on Brexit and UK corporate insolvency

In our previous article, we looked at the immediate implications of the EU Referendum Leave vote - or 'Brexit' - for business insolvency, but it's worth taking a broader look at how the UK corporate insolvency regime could be affected by the outcome. R3 - the...

What does Brexit mean for healthcare accounting?

With the result of the EU Referendum now known, it is time to start considering the implications of Brexit for healthcare accounting. The Leave vote in itself is not binding - Article 50 must be triggered to start the two-year countdown clock on negotiations with the...

What does Brexit mean for business insolvency risks?

Few people would have confidently predicted a firm majority victory for the Leave campaign in June 23rd's EU Referendum, commonly referred to as Brexit. Yet as the first results began to come in - with the exception of Gibraltar, which understandably voted almost...

Healthcare accounting higher on the agenda for Millennials

Millennials - the term used for the generation who are currently aged from their late teens to their mid-30s - seem more likely to put healthcare accounting higher on their agenda, compared with those aged over 35. The 2016 Schroders Global Investor Study has revealed...

Manchester accountants ready for ‘payment on account’ deadline

Most people know that the deadline for filing personal tax returns is January, and the new financial year begins in April, but our Manchester accountants are currently ready for another key deadline in July. For people who have been asked to pay HMRC 'on account',...

Insolvency adds to £150m trade credit insurance cost

The total cost to the insurance industry of trade credit insurance claims - where businesses are compensated for late payment or customer insolvency - was nearly £150 million last year, according to figures from the Association of British Insurers. In 2015, this...

Let our Manchester accountants help you fund your next city break

If our Manchester accountants were able to help you save a few hundred pounds - or even a few thousand - from your property tax or income tax bill, what would you spend it on? For many residents of the north-west's most cosmopolitan city, a short break in another...

BHS retail’s second-largest company insolvency

BHS is the second-largest company insolvency to hit the retail sector since the onset of the recession, according to the latest Who's Gone Bust? report from the Centre for Retail Research. In the whole of 2015 there were 25 significant company insolvencies in the...

Property accountants can help with future plans

The current generation of UK adults are not proactive when it comes to planning for their retirement and death, but speaking to property accountants when making a major decision like buying a house could help you to understand more about how to get your affairs in...

Romania expelled from Eurovision amid corporate insolvency concerns

Romania has been banned from competing in the upcoming Eurovision Song Contest amid concerns that its national broadcaster TVR could face corporate insolvency proceedings. The broadcaster has been in debt to the European Broadcasting Union since the beginning of 2007,...