TaxPersonal TaxInsolvency specialist’s shares recover after profit warning

Insolvency specialist's shares recover after profit warning

Detailed trading update sees Accuma's shares rise again after unexpected profit warning

Insolvency specialist
Accuma
saw its shares go up 5% after issuing a detailed trading update following an
unexpected profit warning.

The
warnings
last week, from Accuma and Debt Free Direct, shook Aim-listed companies dealing
with personal insolvencies, causing their shares to plunge.

Accuma shares, which stood at 222%p last week, fell nearly 60% when it said
the UK’s biggest banks were becoming reluctant to approve insolvency agreements
and that it had suffered from a ‘poorly executed’ marketing strategy, the
FT reported.

Accuma revealed yesterday that approval rates for individual voluntary
arrangements
(IVAs) dropped from 94% to 78% towards the end of 2006.

The company yesterday sought to reassure the market that in early 2007
approval rates had returned to about 85%.

Further reading:

IPA to set up regulator for debt management
firms

Debt management company benefits from
booming sector

Insolvency profession to be
‘revolutionised’

Related Articles

Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

1m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

3m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

4m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

5m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

6m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

6m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

8m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

9m Emma Smith, Managing Editor