There are many reasons why a business owner or entrepreneur would like to sell or close their successful business. It could be that they want to release some funds for their next big project or simply they have worked hard and have now decided it is time to put their feet up and enjoy the […]
Whether described as disguised remuneration or tax avoidance schemes one thing is sure HMRC are clamping down and looking for ways to recoup their losses. In the past, as a way of avoiding income tax and national insurance, employees were given tax-free loans. HMRC have been cracking down on these schemes for some time but […]
One of the key points Philip Hammond delivered in his third Budget was the return of HMRC as a preferred creditor in insolvency cases. In 2002 the Enterprise Act removed HMRCs right as a preferential creditor and ranked it alongside unsecured creditors. At present, taxes paid by employees and customers are not always provided to […]
HMRC are running a test case to challenge one of the traditional approaches of dealing with an overdrawn Director’s Loan Account (‘DLA’) when entering a Members’ Voluntary Liquidation (‘MVL’). At the end of a company’s useful life, if it is solvent, it is normal practice to place it into MVL to enhance the tax position […]
When dealing with the restructuring or insolvency of a company we often ask the directors what impact this could have on them personally. This could range from issues regarding directors’ responsibilities to the company and creditors through to loss of employment and income. One recurring problem is personal guarantees provided against company liabilities by present […]
“On Thursday 17 November 2016 we hosted a table at the Where Cricket Meets: Beaujolais Noveau event at the1st Central County Cricket Ground in Hove in aid of The Sussex Cricket Foundation. A great afternoon of entertainment was had with satirical observations from comedians Patrick Monahanas and Ian Moore, and live music from local singer […]
We continue to live in an increasingly uncertain world, Brexit, Trump and DH pharmacy funding cuts. Since the original announcement by the DH on 17 December 2015 it has been an uncertain time for pharmacy owners and operators as to firstly whether the funding cuts would come in, secondly the amount of the cuts and […]
For many of us completing tax returns by the due date can seem a daunting task. The problem can become exasperated when you are also a manager of a care home responsible for looking after the wellbeing of vulnerable people. I can understand why care is given priority and why conflicts arise such as should […]
The Insolvency Service announced yesterday (30 March 2016) a new non Court process for dealing with bankruptcy applications which they believe will fast track appropriate cases and try to move away from the stigma of the old Court based system. Please see the attached link for more details. https://www.gov.uk/government/news/bankruptcy-applications-move-online-from-april Individuals with assets such as the […]
From 9 March 2015 the cost to litigants in bringing civil claims before the Court will substantially increase for most claims as follows:- The fee for claims from £1 to £9,999 will remain unchanged; The fee for claims from £10,000 to £199,999 will be 5% of the value of the claim; The fee for claims […]
We were pleased to accept an invitation from the Sussex chapter of the Society of Trust and Estate Planners (‘STEP’) on a wild and windy Wednesday evening at Hollingbury Golf Club to the north of Brighton to present on the above subject. As insolvency practitioners with many years of experience in assisting individuals and companies […]
Good news for retailers? Data from The Local Data Company suggests that vacancies in town centre retail units fell to 13.9% in December from 14% in November. A two tenths of one percentage point drop may not seem wildly optimistic but importantly this is the first time since July 2010 that the figure has been […]
I will be at the NEC for the second time in almost as many weeks on Thursday 17 October 2013. Having been at the Pharmacy Show on Sunday 29 September to meet up with a number of contacts, I am looking forward to discussing dental issues which are remarkably similar to pharmacy issues. One key […]
I am looking forward to catching up with many of my professional contacts at the Pharmacy Show on Sunday and the Christie + Co curry on Sunday evening. www.thepharmacyshow.co.uk