11-year ban for director!

Liam Francis Wainwright was a director of Rawdon Asset Finance Limited, a company which provided finance to small and medium businesses which found it difficult to access finance. However, Wainwright often allowed loans to customers who did not have enough security to cover the amount they borrowed. Subsequently the company entered into administration and an […]

National Minimum Wage increases

Don’t forget that the NMW increases come into effect on 1 April this year. The new rates will be: Aged 23 and above – £8.91(National Living Wage) Aged 21 – 22 inclusive – £8.36 Aged 18 – 20 inclusive – £6.56 Aged under 18 but above compulsory school leaving age – £4.62 Apprentices aged under […]

More than 900,000 small businesses predicted to fail

Recent research has shown that there are more than 900,000 businesses are predicted to fail as a direct result of the pandemic. Former prime minister Gordon Brown is calling on the Government to ‘construct a long-term business recovery plan’ in order to avoid widespread failures. It will be interesting to see what further support measures […]

HMR….C U in February!

Self assessment tax returns are normally due by the end of January otherwise the taxpayer is fined £100.   However, after mounting pressure from accountants, HMRC have agreed to not charge the penalty of £100 as long as the return is submitted by the end of February. The tax still has to be paid by […]

HMRC you later!!

Breaking news – as from today HMRC have taken the decision to close all helplines across Debt Management (DMs) EIS teams – until further notice. Apparently, HMRC staff are far too busy manning the covid helplines and getting their work up to date, to take helpline calls. This measure has been put in place today […]

Unprecedented debt levels!

It has been reported that almost 40,000 Yorkshire businesses are facing financial difficulties. Although Government measures have helped, they have only put a sticking plaster on the problem and once that comes off we are likely to see a huge rise in the number of insolvencies If you have clients whose business has been affected […]

Carillion bosses face disqualification

The Insolvency Service have applied to the High Court for Disqualification orders against eight former directors of Carillion. If Obtained, the disqualification orders will prevent the directors from holding directorships from any company for up to 15 years. The Official Receiver, as part of his duties as liquidator, investigated the conduct of the directors during […]