The Insolvency Statistics for 2024 have just been released which show that just under 24,000 companies entered into an insolvency process in 2024. The good news is that there is a downward trend in the number of corporate insolvencies and they are 5% lower than in 2023! The monthly insolvency statistics for December are also […]
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Some business owners may be contemplating a solvent liquidation or MVL prior to the increase in Capital Gain Tax rates (“CGT”) in April 2025. The recent case of the liquidation of S.A.L. Holdings Limited (“SAL”) highlights some pitfalls to try and avoid at all costs if you are contemplating an MVL. In May 2018, SAL […]
With the arrival of the new Premier League season, the bods at Redman Nichols Butler have been busy devising their All Star Premier League football team with an insolvency twist. We have a fantasy team of former players who have all been made bankrupt! The most recent former player to have been made bankrupt was […]
Events over recent weeks involving the Far Right and the riots have been appalling. A recent news article in the Sunday Times highlights the murky business practices of Tommy Robinson and his associates. Tommy Robinson and his associates have created multiple companies which they have since sought to place into an insolvency process called […]
It is widely expected that the new Chancellor will hold her first Budget in mid-September 2024 or early October 2024. A key question is whether she will include any changes to Capital Gains Tax (“CGT”) in her first Budget. The Labour manifesto remained silent on this issue and the Prime Minister refused to rule out […]
Debt Relief Orders are a personal insolvency option for those with limited assets / debts in financial difficulty. The Government has recently announced the abolition of the £90 administration fee and with effect from 28 June 2024 the maximum debt threshold will increase to £50,000 and the maximum value of a motor vehicle that an […]
Former pop sensation, Liverpool and England footballer, John Barnes, can now add director disqualification on to his list of accolades. Mr Barnes has been banned from being a company director for 3.5 years after the Insolvency Service began investigations following the collapse of John Barnes Media Limited into liquidation. John Barnes Media Limited failed to […]
Katie Price (model? / minor celebrity? / insert job description here) has been declared bankrupt. As part of her bankruptcy, her Trustees made an application to court to seek the court’s permission that four websites that Price generated revenue from, including Only Fans, should be compelled to pay a percentage of her income into a […]
The Insolvency Service have provided a really useful information hub for directors and potential future directors on your duties and responsibilities and also identifying the risks of insolvency. The information hub is also relevant to anyone involved in running or managing an organisation such as a trustee of a charity or being involved in the […]
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