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None of us like to think of our companies facing insolvency, but unfortunately that can be the reality of business, especially at the moment. Record numbers of business insolvencies are being recorded, so it’s vital for Directors to be clear what they should and shouldn’t do — preferably before they’re faced with the choices. What Is Insolvency? Section 123 of the Insolvency Act 1986 sets out variou

Eighteen months after the last Covid restrictions were lifted, it might be expected that SMEs would be relying less on new technology, especially technology allowing their employees to work from home. However, a survey last month suggests this is far from the case. SMEs Are Still Relying on Technology A study in September by Novuna Business Finance shows that 67% of small business owners consider technology to be hav

During the pandemic, the government brought in measures that restricted the power of landlords to seek possession from tenants who fell behind in their rent payments. Most of these restrictions ended from 31st October, but what does this actually mean for landlords? The Pandemic Restrictions on Evictions In March 2020, the Coronavirus Act 2020 placed major restrictions on landlords’ ability to seek possession o

The perfect balance for any landlord is to ensure a regular, unbroken income from your property with a minimum of effort and hassle. And the best way of ensuring that is to keep any good tenants you already have. The obvious advantage of keeping a good tenant is that you won’t have gaps in the rent coming in, but there are other benefits. If the tenancy isn’t constantly changing, you’ll be spending

So you’ve got your court order that says you’re entitled to the money your debtor owes you. Now what? It’s one thing to be entitled to it, but that’s not much good if they claim not to have the funds available to pay you. Or do they really? Getting the Information You Need Fortunately, you don’t have to take your debtor’s word that they can’t afford to pay you. If you have a judgement about the debt, you’re entitled

SMEs that rely on large companies as clients have always suffered from a power imbalance when it comes to paying bills, and the situation seems to be getting worse. It’s been estimated £266bn is being withheld from SMEs through late payment, and there are signs this has been increasing since the Brexit vote. Duty to Report All political parties are promising action, and the Duty to Report measures were introduced in

New requirements for residential landlords to ensure that a tenant or lodger can legally rent a property are coming into effect. The new requirements requires private landlords, including those who sub-let or take in lodgers, to check the right of prospective tenants to be in the country to avoid being hit with a penalty. The changes will start where a tenancy agreement commences on or after 1 February 2016 in Englan

After the Summer Budget, it was clear that landlords were being targeted with the removal of the 10% wear and tear allowance from April 2016 and the finance cost restrictions coming in from April 2017. However, if you thought it would stop there, you were wrong. It now appears that there will be further ramifications for landlords and second home owners, as announced at the Autumn Statement. Going forward, into 2016,

The basis of all Contracts and written Agreements are all tied to Terms & Conditions; and at this time of year in particular, do you know your rights under the T & Cs of the goods and services you have purchased Accountants & Solicitors have Letters of Engagement, which are their Contracts and Terms, and they are governed by either the ACCA or the Solicitors Law Society. Many businesses belong to an assoc

Here’s a piece of information from Sterlings Accountants  to think about before changing a vehicle. Choosing the right car (for capital allowances) The rate of capital allowances (CAs) you can claim for cars used in your business varies between 8% per year to 100% of their cost. That can make a big difference to your tax bill. What steps can you take to achieve maximum tax efficiency? Capital allowance rates Th