The 60-day financial breathing space proposal and why it needs careful consideration
Fulfilling a commitment made via the 2017 manifesto, the Government will be introducing a 60-day Breathing Space period from 2021 for people with problem debt. This has been welcomed by the Insolvency and Business Recovery sector, who have long lobbied … Continue reading →
Why the government needs to rethink its Draft Finance Bill before April 2020
In early July 2019, the government published its draft Finance Bill fulfilling the promise it made in the 2018 Budget to commit to a more fair and competitive tax system. However, R3, the organisation representing the insolvency and restructuring profession … Continue reading →
How deficit budgets could spark a recession
Three in ten (28%) British adults ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six British … Continue reading →
The industry sectors that will be affected by Brexit the most
The number of UK businesses in “critical” financial distress jumped 17 per cent over the year to the end of March, with a significant deterioration seen in the first quarter of 2019 as Brexit uncertainty continues. Research by insolvency firm … Continue reading →
How Consumer Confidence is Impacting Insolvency
According to recent research commissioned by R3, the professional body for Business Recovery Professionals, on the state of consumer confidence and personal debt in the UK it transpired that almost half of the UK adult population are concerned about their … Continue reading →
Will Brexit Stockpiling Increase The Number of insolvencies?
British and European businesses have been stockpiling up as a hedge against Brexit. But with the no-deal deadline pushed back, what effect is this prolonged inventory inflation having on working capital? And what will the new normal look like once … Continue reading →
Global Insolvencies Expected To Rise For The First Time In A Decade
According to a report published by Atradius, the global credit insurance and debt collection group, insolvencies are forecast to rise globally in 2019 for the first time in a decade. The UK is predicted a 7% rise. The collective world … Continue reading →
Renting in Manchester? Why your landlord is likely to be based in China
If you currently renting in Manchester, or are looking to rent a property in Manchester city centre, the chances are your landlord is likely to be based in China. According to Carrie Law, CEO of Juwai.com, China’s largest overseas property … Continue reading →
The Benefits of the Insolvency Profession to the UK Economy
Rightly or wrongly, the insolvency profession is sometimes viewed as mercenary; the sector ultimately prospers in the event of an economic downturn whilst the rest of us flounder and hold on with our fingernails. But nothing could be further from … Continue reading →
Planning for a Brexit-Induced downturn
At the time of writing (mid April 2019), it is still unknown the full effect leaving the EU will have on the UK economy. Doom-mongers and experts alike are predicting an economic downturn, with the Bank of England predicting a … Continue reading →