UK corporate insolvencies will fall in the third quarter of the year, according to credit reference agency Graydon UK.
The drop in company failures in Q3 is likely to be 5.7% compared to the second quarter of this year and 6% lower than the third quarter of 2009.
Martin Williams, MD at Graydon UK, said HMRC's Time to Pay Scheme, which allows businesses to defer tax payments, has helped reduce the number of corporate insolvencies.
Williams predicts company failures will increase in early 2011 as the impact of public spending costs and rise in VAT take effect.
The Insolvency Service releases its official statistics on company failures for the third quarter on 5 November.
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.