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Insights

The latest press releases and opinion from Bishop Fleming

Crackdown on debt dodging directors

Crackdown on debt dodging directors

Posted by Luke Venner on March 28, 2018

Directors determined to dodge debts by dissolving companies face disqualification and fines under a new government crackdown. The government has come forward with new proposals to raise standards in corporate governance by cracking down on…

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Retailer insolvency - Playing your cards right

Retailer insolvency – Playing your cards right

Posted by Sam Hawkins on March 15, 2018

There are repercussions for users of Credit cards and gift cards where a retailer becomes insolvent. Sam Hawkins explains. Retailer insolvency has been on a noticeable increase recently with high profile cases such as Toys…

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Why Should I Choose a Members’ Voluntary Liquidation?

Why Should I Choose a Members’ Voluntary Liquidation?

Posted by Luke Venner on March 2, 2018

A Members’ Voluntary Liquidation (MVL) of a company can be a sensible route to winding up a company in certain circumstances. It is often the case that a Company which is perfectly solvent and has…

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Good moves to cut bad credit card debts

Good moves to cut bad credit card debts

Posted by Luke Venner on March 2, 2018

The Financial Conduct Authority (FCA) has told credit card providers they must do more to help people with persistent credit card debt. The financial watchdog has introduced new rules that take effect from 1 March 2018, but has given credit…

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Insolvencies rise as margins are squeezed

Insolvencies rise as margins are squeezed

Posted by Luke Venner on February 9, 2018

The latest statistics for insolvencies in England and Wales covering the last quarter for 2017 reflect a difficult year for companies and individuals. The Association of Business Recovery Professionals, R3, have highlighted a number of…

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New clampdown on high-cost credit planned

New clampdown on high-cost credit planned

Posted by Luke Venner on February 5, 2018

The Financial Conduct Authority (FCA) is considering a clampdown on companies that provide high-cost credit to consumers. This could include imposing a cap on interest rates charged. Such a move would be a follow up…

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Carillion collapse causes chaos for creditors

Carillion collapse causes chaos for creditors

Posted by Luke Venner on January 17, 2018

With Carillion Plc being put into compulsory liquidation, what can businesses that rely on income from the construction and facilities management group do? The collapse of Carillion will have wide-ranging implications for the public and…

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My Employer is insolvent – what are my rights?

My Employer is insolvent – what are my rights?

Posted by Sam Hawkins on October 20, 2017

If your employer is unable to pay its debts, including your wages, it is likely to be insolvent. Your options depend on whether your company has entered a formal insolvency procedure. Sam Hawkins explains. This…

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Statutory Interest on Tax Liabilities in Solvent Liquidations (MVL)

Statutory Interest on Tax Liabilities in Solvent Liquidations (MVL)

Posted by Luke Venner on October 10, 2017

HM Revenue & Customs (HMRC) now require statutory interest on corporation tax (CT) where it is paid after the normal due date, which has significant implications for current and future Members’ Voluntary Liquidations (MVLs). HMRC…

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What is a shadow director?

What is a shadow director?

Posted by Luke Venner on September 26, 2017

In the day to day running of a Company, businesses are often overseen by individuals who are not legal directors registered at Companies House. In the Companies Act 2006, a shadow director, in relation to…

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