Recruiting!
Newswe are looking for an experienced insolvency case administrator to join the team at the Driffield office – for further information please email stella.flemmings@redmannicholsbutler.co.uk
Distributions of loan accounts in MVLs – Important HMRC update!
NewsHMRC has very recently updated its corporation tax manual with useful guidance on the tax implications of directors’ loan accounts and distributions in Members’ Voluntary Liquidations (“MVLs”). We have published the link to this guidance on our website. HMRC have confirmed in its manual that the distribution in specie of the loan […]
Influential Think Tank criticises Entrepreneur’s Relief
NewsBusiness owners save approximately £2.4m a year via Entrepreneurs’ Relief (“ER”). ER has led to business owners retaining reserves in their businesses to benefit from lower taxes. The Institute for Fiscal Studies (“IFS”) has found no evidence that “tax-motivated retention of profits translates into more investment in business capital”. The IFS have argued that ER […]
Grand designs on the cash!
NewsA property firm which was set up by TV personality Kevin McCloud faces liquidation HAB Land Finance encouraged 280 people to invest £2.4m, promising returns of 8%. The investors were sold “mini-bonds” to crowdfund the purchase of land for housing estates in Oxford and Winchester. However, after a period of ‘difficult trading’ there has been […]
PRIVATE TREATY SALE OF BUSINESS AND ASSETS FOR YORK INSTRUMENTS LTD IN ADMINISTRATION
NewsBusiness for Sale York Instruments Ltd – In Administration On behalf of the administrators of York Instruments Ltd, BPI Asset Advisory Ltd are seeking interested parties for this incredible opportunity to purchase the remaining business, chattell assets, intellectual property & goodwill attributed to York Instruments Ltd. York Instruments Ltd – In Administration specialise in the […]
We’re hiring!
NewsRedman Nichols Butler are looking for a full-time office assistant in our Driffield office. Hours are Monday – Friday, 9am – 5.30pm. Salary above minimum wage To apply please email CVs to stella.flemmings@redmannicholsbutler.co.uk
Leading UK holiday company Thomas Cook has now entered compulsory liquidation
NewsThe 178-year-old holiday company, Thomas Cook (TC), has collapsed after last minute negotiations aimed to try and save TC have failed. TC had 22,000 direct employees’, 9,000 of these being in the UK. The UK Civil Aviation Authority has said the company has ‘ceased trading with immediate effect’. The company has now entered compulsory liquidation. […]
Networking
NewsWhat a lovely morning spent at the Healing Manor Hotel listening to Lee Whiting and Nicola Barrass discuss Employment Law Updates. Big thanks to @BridgeMcFarland for hosting this event. #seminar
Pension company wound-up following an investigation undertaken by the Insolvency Service.
NewsOne of Preston’s pension companies has been wound up after failing to maintain millions of pounds worth of members funds. Ecroignard Trustees Limited managed two pension schemes which had 229 members with a total £14 million worth of investments. Following several complaints, the Insolvency Service began its investigation into the company’s activities and found that […]
Political chaos
NewsWith the political and economic chaos in Britain at the moment, it would be advisable for directors with a solvent company that they want to close to take control now and use a Members Voluntary Arrangement (MVL) to close that company in a tax efficient way. Who knows what will happen to tax rates in […]
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