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COVID-19: Summary of measures to assist UK businesses
The UK Government has announced a series of financial measures that will provide some support for employers and businesses through the Coronavirus crisis. Included within the proposal are new insolvency measures and why they are considered necessary to help companies...
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The return of the Crown as a preferential creditor – what is the impact on businesses?
During the Budget speech in October 2018 it was announced that the Government planned to reinstate the Crown as a preferential creditor for certain taxes in insolvency procedures. The policy change is due to take place on 6 April 2020. The proposed change Prior to...
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The Budget, HMRC and Insolvency
The Government and HMRC are continuing to seek ways to maximise tax receipts. The recent Autumn Budget contained two principal changes to the treatment of unpaid tax in an insolvency process. 1) HMRC preferential creditor status With regard to corporate insolvencies...
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Four key points every advisor should know about company insolvency
If you have a client facing the prospect of company failure and therefore insolvency, then as a professional advisor, you can expect the directors to turn to you with a barrage of questions. To help you put your client’s mind at rest, here are answers to four of the...
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How manpower agencies can manage the risk and costs associated with working with RPOs
The recruitment process outsourcers (RPO) market has seen significant levels of growth over the last 10 years as corporations reap the benefits of total management of the recruitment function. Yet for manpower agencies supplying temporary staff to corporations, with...
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HMRC updates Furlough guidance
HMRC has updated the Furlough guidance over the weekend with specific reference to company directors: As office holders, salaried company directors are eligible to be furloughed and receive support through this scheme; Company directors owe duties to their company...
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BREAKING NEWS: Government announces revamp of CBILS
The Chancellor has this morning announced some changes to the Coronavirus Business Interruption Loan Scheme (CBILS) following widespread concern voiced by the business community: Help for small business - Banks will be prevented from asking company owners to...
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Administrators successfully conclude the sale of Tough Mudder Ltd to Spartan Race
Joint Administrators, Michael Solomons and Andrew Pear, of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, have successfully concluded the sale of the UK business and assets of Tough Mudder Ltd to a UK arm of Spartan Race Inc. The...
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BM Advisory appointed Administrators of Tough Mudder Ltd
Michael Solomons and Andrew Pear of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, were appointed as Joint Administrators of Tough Mudder Ltd on 24 January 2020. The Administrators are continuing to trade the business with a view to...
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BM Advisory facilitates sale in part of David Taylor Automedia Limited t/a Automedia – In Administration
Joint Administrators Andrew Pear and Michael Solomons of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, have successfully concluded a sale of the goodwill, customer list and order book of David Taylor Automedia Limited t/a Automedia, in...
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