The Government has announced (28 March 2022) that the last of the Temporary Insolvency Restriction Protections are being lifted. To help protect businesses from insolvency a number of changes were introduced under the Corporate Insolvency and Governance Act (Coronavirus) to protect business from creditor action since June 2020. Most of these measures expired at the end […]… Continue Reading
In an ideal world, the objective of a party entering into a contract is to ensure that their matter runs as smoothly as possible, with both parties involved hopeful that it will be completed on time and as agreed. Having said that, even the most carefully laid out matters do not always go exactly as […]… Continue Reading
National Insolvency figures published (16 March 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in February 2022 was 1,515: More than double the number registered in the same month in the previous year (685 in February 2021), and 13% higher than the number registered two years previously (pre-pandemic; 1,346 in February […]… Continue Reading
Insider Intelligence is our construction industry specific information that provides up to date, relevant, reliable information to enable more informed business decisions to be made when accepting an application for a trade credit account. When mainstream agencies look at credit information they number crunch. They use the last set of accounts and any public record […]… Continue Reading
A winding-up petition is the first step towards obtaining a winding-up order against a business that has substantial unpaid debt. If a winding-up order is subsequently made, it will enter compulsory liquidation, cease trading and the conduct of its directors will be investigated. What does it mean if one of your customers has a Winding […]… Continue Reading
National Insolvency figures published (15 Jan 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in January 2022 was 1,560: More than double the number registered in the same month in the previous year (758 in January 2021), and Similar to the number registered two years previously (pre-pandemic; 1,508 in January 2020). […]… Continue Reading
A phoenix operation is when a company is liquidated and the directors simply buy its assets cheaply, set up a new company, and continue to trade with the same or a similar name. Hiding previous failures from the public, it lets them leave creditors with nothing. As phoenix operations rise from the flames, it’s often […]… Continue Reading
National Insolvency figures published (19 Jan 2022) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in December 2021 was 1,486: 20% higher than the number registered in the same month in the previous year (1,237 in December 2020), and 33% higher than the number registered two years previously The published report […]… Continue Reading
A good invoicing system sends a professional message and helps define your business brand as one to trust. Formalising your demand for timely payment, the right invoicing process will keep your business organised and will be particularly useful should a customer fail to pay, leading to legal proceedings. An invoice is a record of the […]… Continue Reading
National Insolvency figures published (17 December 2021) by the Government’s Insolvency Service have indicated that the number of registered company insolvencies in November 2021 was 1,674: · 88% higher than the number registered in the same month in the previous year (891 in November 2020), and · 11% higher than the number registered two years previously (pre-pandemic; 1,509 in November […]… Continue Reading
