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25th June 2020
The VAT deferral scheme, which allowed businesses to defer VAT payments, will not be extended, meaning that all payments will need to be made in full and on time from 1 July. Launched as part […]
22nd June 2020
British households are expected to rack up debts worth a combined £6bn during the coronavirus health crisis, StepChange claims. As millions fall behind on credit card payments, council tax and utility bills, the debt advice […]
11th June 2020
Major restructuring projects in several restaurant and retail groups is expected to cost 3,600 jobs in the UK. The Restaurant Group, which owns Frankie and Benny’s will be responsible for up to 3,000 job losses […]
8th June 2020
Households repaid £7.4 billion in credit card and loan debt in April as the Bank of England recorded the biggest ever monthly fall in consumer debt. Lockdown effectively limited consumer activity in April, meaning that […]
22nd May 2020
New insolvency legislation has been introduced to protect businesses that are struggling to cope with the economic impact of the coronavirus pandemic. The Corporate Insolvency and Governance Bill is designed to protect ‘otherwise viable’ companies […]
18th May 2020
The coronavirus outbreak has far-reaching consequences not just for the nation’s health but also on the health of businesses. Social distancing measures and the associated economic downturn has already led to some businesses shuttering their […]
30th April 2020
Recognising the impact of the coronavirus pandemic on individuals and their finances, the Insolvency Service has issued new guidance on new and existing individual voluntary arrangements (IVAs). Anyone that is struggling to meet their obligations […]
23rd April 2020
High street stalwart Debenhams has become the first UK business to start a new kind of insolvency process – one designed to protect companies from their creditors during the pandemic. The new ‘light touch’ administration […]
9th April 2020
Are you wondering why there are rainbows popping up in windows around your local area too? With social distancing and restrictions due to coronavirus, children are connecting with each other by creating colourful rainbows and […]
9th April 2020
The government has already unveiled an unprecedented package of support to assist businesses and individuals through the coronavirus crisis. For individuals and businesses that were already struggling with debt problems before the coronavirus outbreak, HMRC […]