New Tax Rules for Members’ Voluntary Liquidations – Deadline 5th April 2016

The UK Government is concerned that the current capital distribution regime is being used as a tax avoidance measure and therefore has brought about new legislation, effective from 6th April this year, which will impact companies who are distributing funds to non-corporate shareholders using the MVL process. From 6th April 2016 a MVL process cannot be […]

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Corporate insolvencies fall 7.5 per cent

The level of corporate insolvencies in the second quarter of 2015 has fallen 7.5 per cent year on year, as many practitioners continue to see fewer formal appointments. The Insolvency Service’s latest statistics show that a total of 3,908 companies entered into formal insolvency between April and June 2015, which was 2.9 per cent less […]

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County court judgments increase 20%

The number of county court judgments (CCJs) against consumers in England and Wales has increased more than 20 per cent to over 209,000. The increase, in the first quarter of 2015 compared to a year ago, emerged in figures from the Registry Trust – a non-profit organisation that collects CCJ and high court data. There […]

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Court fees rise up to 600%

Civil court fees for money claims over £10,000 have risen to five per cent of the value of the claim. The controversial fee increase, of up to 600 per cent in some cases, affects both specified and unspecified claims. They will be capped however at £10,000 for claims of £200,000 or more. There will also […]

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HMRC halves its DCA spend

HMRC has halved its spend on debt collection agencies (DCAs) during the past year, with £6.8m spent on them in 2014 compared to £14.8m in 2013, according to new research. The study by chartered accountants UHY Hacker Young tracks HMRC’s usage of DCAs, since it started outsourcing tax collection to external agencies in 2009. The accountancy firm said […]

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How much debt are British adults managing?

The latest edition of R3’s Personal Debt Snapshot report is due to be published shortly and, besides detailing the current levels of debt, it will give an insight into spending and saving behaviours among British adults. In R3’s Christmas debt report a significant proportion of adults said they struggled to make their money last until […]

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Bankruptcy and DRO changes to ease debt burdens

Charities and groups working with the indebted have welcomed government plans to enable easier access to debt relief for financially vulnerable people. The changes will allow approximately 3,600 more people a year with problem debt to enter into a Debt Relief Order (DRO) – a low cost alternative to bankruptcy for those with very low […]

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New Office Address

We are very pleased to announce that we have moved offices to the address below with effect from 7th April 2014: The Old Brewhouse 49-51 Brewhouse Hill Wheathampstead St Albans Herts   AL4 8AN   All contact telephone numbers / email addresses remain the same. Please feel free to pop in to see our new offices […]

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