Using the analytics function at financial evaluation experts Company Watch, Opus Restructuring has examined the outcomes of all Administration cases in England and Wales, which commenced in the past five years and confirmed that 70% of the attempted rescues failed to save the business on a long term basis. Nick Hood, Business Risk Adviser at Opus Restructuring, said: “Our research shows that, at best,
The UK retail sector is experiencing a pernicious pincer effect on its already vulnerable profitability as top line income falls and the weakness of sterling drives up the cost of the imported goods they sell. To make matters worse, a huge hike in business rates in high density city centres and shopping malls comes into effect next April. Click here to
Contractor UK website looks at the likely impact on IT contractors of pressure being applied to the Chancellor to boost the economy in his Autumn Statement next month, quoting our comments on the latest HMRC attack contractors, this time concerning disguised remuneration schemes. “Disguised remuneration / loan schemes which were being peddled by tax wizards in years gone by [were
In the first three months after the UK voted to leave the EU, the value of new construction orders dropped 18% on the previous quarter and were down 33% year-on-year. Tenders submitted fell even more dramatically; they were down 31% by number and 45% by value on the previous quarter and 62% by value year-on-year. Businesses trading in and with the
Corporate Rescue & Insolvency magazine has published our concerns about the impact of Brexit not just on the handling of future cross-border failures, but on the struggle to modernise insolvency regimes and create adequate professional and judicial capacity around the world. “Slowing the pace of global insolvency reform and restricting the development of sufficient professional and judicial capacity in markets desperately short
Our head of Disputes & Forensics, Liz Coleman recommends that IT contractors and other taxpayers take the opportunity of HMRC’s new Worldwide Disclosure Facility (WDF) to reveal any still secret offshore arrangements before the collection regime gets even more tough. Sadly, there are no incentives to do so, but the penalties are eye-wateringly draconian. Her blog appears on the Contractor
