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Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
Dealing with problem debt If you are struggling with problem debt, you are not alone. More than eight million people in the UK are reported to have financial difficulties. It can sometimes feel that there is no end in sight, but there are solutions. The...
The difference between legal and illegal dividends
Legal v illegal dividends There are many differences between legal and illegal dividends that as a business you need to be aware of. Changed business conditions in light of the Coronavirus pandemic have caused many companies to review thei...
Top tips to avoiding a debt hangover this Christmas
Avoiding a debt hangover this Christmas Christmas is depicted as the most wonderful time of the year. For many though, Christmas can ultimately be the most worrying and stressful time of the year. With so much pressure to have the ‘perfect’ Christmas, buy the ...
Does your business trade with the EU? You’ll need an EORI number after Brexit.
What is an EORI number and who needs one? An Economic Operator Registration and Identification (EORI) number will be needed for UK businesses to be able to continue to trade with the EU after the UK leaves the EU. If there is a no-deal Brexit In...
Closing a business – when a Members Voluntary Liquidation is beneficial
Closing a business – when a Members Voluntary Liquidation is beneficial Members Voluntary Liquidation (MVL) Although it is possible to strike off a company and for distributions made prior to dissolution to be treated as capital rather th...
My work experience with Arthur Boyd & Company
My work experience with Arthur Boyd & Company The job of an Accountant / Insolvency Practitioner! I’m a sixth year student at St. Dominic’s Grammar school in Belfast, studying 4 A Levels in Biology, Psychology, Spanish and Busi...
HMV… and so it begins. How to protect yourself.
HMV... and so it begins. How to protect yourself. We had barely finished the Christmas turkey when the news broke that HMV had been placed into Administration, with 2200 jobs at risk. The Administrator has confirmed that gift cards will continue to be honoured. The backlash re...
Crackdown on Reckless Directors
Crackdown on Reckless Directors Following Royal Assent of Finance Bill 2019/20, the government has announced that directors and other persons involved in tax avoidance, evasion or phoenixism (a minority of directors who deliberately dodge debts by dissolving companies then starti...
A survey by the Money Advice Service has found that “UK adults are hiding more than £96 billion of debt from friends and family, with the average amount of hidden debt in the UK standing at £4,164 per person”. This can put an incredible strain on relationships and cause individuals a huge a...
HMRC issues winding-up order against Patisserie Valerie subsidiary
Café chain Patisserie Valerie has announced it has discovered "significant, and potentially fraudulent, accounting irregularities" and the existence of a winding-up petition issued against one of its subsidiaries by HMRC. The tax authority is seeking £1.14m in taxes, the company said, while it ...
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