Small-company finance directors have reacted with indifference to the long-awaited Insolvency Bill designed to help small companies in trouble, according to the results of the latest Big Question survey conducted by Accountancy Age and Reed Accountancy Personnel, writes Lucinda Kemeny. The Bill introduces a minimum 28-day moratorium into the company voluntary arrangement scheme, and a procedure to disqualify directors without a court hearing. But although the provisions have been given a high profile in efforts to help small companies keep creditors at bay while they put a rescue plan in place, the plans have fallen on deaf ears. Almost 60% of those surveyed remained neutral to the Bill, while 20% said they did not believe it would help. One finance director, who wished to remain anonymous, said: ‘Would it work in practice? Another 28 days could mean more problems.’ Others replied it would delay the inevitable and add extra red tape to smaller businesses. Only 4% felt the Bill would definitely help companies in financial trouble.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice