BusinessBusiness RecoveryCorporate insolvencies to fall in third quarter

Corporate insolvencies to fall in third quarter

Credit reference agency Graydon UK predicts company failures to fall in Q3, however, 2011 could see corporate insolvencies increase

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.

Further reading:

Bridge
Business Recovery supervises first stockbroker CVA

Tories
abandon insolvency reform plans

Coastal
cities have highest personal insolvency figures

Related Articles

Director banned for failing to keep proper accounting records

Business Recovery Director banned for failing to keep proper accounting records

1y Richard Crump, Writer
Number of winding up petitions filed by HMRC rises by 13%

Business Recovery Number of winding up petitions filed by HMRC rises by 13%

1y Richard Crump, Writer
Interview: R3 president Andrew Tate

Business Recovery Interview: R3 president Andrew Tate

2y Chris Warmoll, Writer
R3 cautiously welcomes advent of simpler bankruptcy regime

Business Recovery R3 cautiously welcomes advent of simpler bankruptcy regime

2y Chris Warmoll, Writer
Bolton settle unpaid tax bill with HMRC

Business Recovery Bolton settle unpaid tax bill with HMRC

2y Calum Fuller, Reporter
Insolvency Service to probe BHS director behaviour

Business Recovery Insolvency Service to probe BHS director behaviour

2y Chris Warmoll, Writer
R3 calls for creditor 'breathing space' to help turn companies around

Accounting Standards R3 calls for creditor 'breathing space' to help turn companies around

2y Chris Warmoll, Writer
Montpelier Professional winding-up order withdrawn

Accounting Firms Montpelier Professional winding-up order withdrawn

2y Calum Fuller, Reporter