No Budget in November! Anyone looking to place their company into a solvent liquidation now has more time to prepare for the MVL process as there will be no change in capital gains tax in the Autumn. Don’t forget that the costs of our MVLs start from £995 + Disbursements + VAT.

Last week the fashion retailer New Look had a CVA approved by its creditors, the terms of which allowed them to write off 6 months of unpaid rent. The current trend for retailers proposing CVAs is to force landlords into agreeing to link rents to turnover. Some landlords are arguing that certain retailers are using […]

The moratorium on evictions which was introduced in April, may have helped struggling businesses over the lockdown period, but has it been fair to the landlords? With the date for the end of the moratorium looming (30 September) restaurants are lobbying the Government asking for support in the form of a moratorium extension so that […]

The Government have approved a further three months for homeowners to apply for mortgage holidays.  The deadline for applications is 31 October.  Homeowners who take this option may be surprised when their payments resume as the interest will have accrued and the missed payments will have to be made up.  Monthly payments may increase to […]

It has been reported that up to £3.5bn of the £35.4bn paid out under the furlough scheme has been paid in error either by fraudulent claims and / mistakes made by HMRC or claimants. In addition, the Public Accounts Committee estimates that an additional £30bn was lost in 2019 due to tax payer fraud and […]

The proposal by Jigsaw to put the company into a Creditors Voluntary Arrangement (CVA) has been accepted by its creditors. It seems that Jigsaw has not recovered from the effects of the pandemic and is yet another high street retailer which is using the CVA tool to jettison underperforming stores. Jigsaw will close around 19 […]

Lingerie and sex toy chain Ann Summers is in talks with the landlords of its 90 high street stores to renegotiate rents in the wake of the pandemic. Jacqueline Gold, boss of the business said that although some landlords have been open to discussions, some have not, which may result in the company proposing a […]

The UK’s national debt now exceeds £2 trillion.  The ‘eat out to help out’ and furlough schemes have been hugely expensive and the Chancellor is widely expected to increase taxes in the Autumn. Many commentators are expecting increases to Capital Gains Tax and are expecting CGT rates will be raised to the same rate as […]

After a five month suspension, bailiffs are now allowed out again, however because of the risk of transmission of Covid-19 they are not allowed to shout. Many of the debts they will be chasing are pre Covid and are mostly council tax arrears and parking fines.  Councils are suffering financially because no action has been […]

We are pleased to welcome Charlotte Hutchinson to the team.  Charlotte joins us straight from the University of Leeds. Charlotte will be looking after the creditors in our cases. Outside of work, Charlotte has a virtual vintage clothes shop and likes to go jogging to keep fit. For more information on bankruptcy, liquidation, administration and […]