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Official inflation figures have just been released for December, and it won’t be a surprise to many people that the news is bad. The figure is 5.4% — the highest inflation since March 1992. This is clearly bad news for consumers, especially those on low income, but what is it likely to mean for your business? Inflation Squeezing Household Spending Much of the recent inflation, the highest this century, is obvio

The liquidation of a company doesn’t always have to be a traumatic event. There are many reasons why a decision may be taken to close down a company and, as long as it has enough assets to pay all creditors in full, this can be done in an orderly fashion through a solvent liquidation. However, occasionally this procedure goes wrong, and the liquidator is forced to convert the process to an insolvent liquidation

Many sectors of the financial world have their own independent oversight bodies. The best known is probably the FCA (Financial Conduct Authority) but similar organisations operate in various areas of finance. One notable exception, though, has been the debt enforcement sector — but that may be changing. A prominent think-tank has brought together various sides of the sector and proposed a framework for a new oversigh

Bounce Back Loans were a key plank in the government’s strategy for supporting SMEs through the Covid lockdown. Payment was deferred for a year, which for many seemed too far ahead to worry about — but we’re now into the second repayment month. So how is it going? What Were the Bounce Back Loans? So much has happened since last spring, when the scheme began, that even if you have a loan your memory of its

With lockdown being cautiously eased, many businesses are looking forward to reopening, especially those in the retail and hospitality sectors. However, many of these have been closed, or at least operating on a restricted basis, for the past thirteen months and will find reopening difficult. However, a new wave of government support for businesses started on 6th April, under the Recovery Loan Scheme (RLS). One Schem

If a company that owes you money has debts so extreme that there’s no possibility of payment, you can apply to the courts to have it wound up. This is a drastic measure and usually a final one — once the winding-up order is granted, it normally means the company is finished. Exceptionally, however, you might change your mind. It’s possible to apply to have the order rescinded, but the process is complicat

The financial effects of the pandemic have been severe on many of us, whether we’re acting as companies, landlords or individuals. One lifeline has been the ability to take “payment holidays” in the repayment of mortgages, loans or debts. This has been invaluable — but is it really the straightforward benefit it seems? Recent research by Resolver suggests it may not be. Payment Holidays Early in the

Insolvency — it’s a prospect every business owner has nightmares about, even if everything seems fine at the moment. But what leads to a business becoming insolvent, and how can you, as owner, see the signs that you’re at risk? Why Does a Company Become Insolvent? Insolvency can be the result of a company no longer being able to pay its way. It may be unable to meet its debts or have more liabilities than assets, but

Takeovers are a fact of business. They’re sometimes good for the customers of the companies involved, sometimes less so, but business never stands still. Debt collection is no exception, although it tends not to get the media attention given to media, engineering or major retail companies, and two significant takeovers have recently been announced in the sector. Two Recent Takeovers Cabot Credit Management, con

Earlier this year, Justice Secretary Michael Gove announced that planned cuts to the legal aid system were to be shelved. This was some relief to both the legal profession and to people facing substantial bills for court cases, but it didn’t reverse the swingeing cuts brought in three years ago. What Is Legal Aid? It’s a basic principle of our legal system that justice should be available to everyone, but it usen’t t