New government fees will undermine insolvency regime, R3 warns
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
R3
April tax change heralds record number of solvent company liquidations
Change introduced to stop individuals ‘storing up’ profits in one company, winding it up and paying a reduced rate of CGT before starting again with a new company
Brexit and auto-enrolment pensions top list of business concerns
Nearly a quarter of UK firms fear Brexit will have a significant financial impact on their business
Interview: R3 president Andrew Tate
Suggestion R3 has 'rolled over' in face of government pressure is false, incoming president Andrew Tate tells Accountancy Age
Company insolvencies rise, but wider trend is down
The 5.4% rise is the first uptick since Q1 2014, primarily caused by a big surge in compulsory winding-up orders in Q1 2016
R3 calls for creditor ‘breathing space’ to help turn companies around
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Scottish insolvency levels continue long-term decline
Out of a dozen sectors profiled only oil and gas and manufacturing were deemed to have a higher than normal risk of insolvency
R3 cautiously welcomes advent of simpler bankruptcy regime
Applications will now be assessed by a government adjudicator rather than a judge
54% of IPs see HMRC as ‘unhelpful’
Nearly three-in-four IPs believe HMRC has made the insolvency process harder to manage over the past few years
ICAEW issues 800th insolvency practitioner license
The UK's insolvency profession helped rescue approximately two in five insolvent businesses in 2013/14
