Toys ‘R’ Us in Need of Rescue
3,200 Jobs could be Lost if Toys ‘R’ Us Rescue Bid Fails Toys ‘R’ Us UK could be facing collapse this week unless the retailer can find £9m to pump into its pension scheme. The firm has already proposed a…
Insolvency News 2 of 18
Autumn Budget 2017: Cross-sector coverage and highlights
Against a backdrop of low economic growth and poor productivity, Mr Hammond delivered his second Budget of 2017 to Parliament, outlining Britain’s investment plans for the years ahead. One of the key themes of this Budget was solving the housing…
Paradise Papers: HMRC’s Biggest Dilemma
What are the Paradise Papers and who are Named in the Scandal? The leaked Paradise Papers reveal how large multinational corporations, such as Apple and Nike avoid paying taxes, and how the world’s rich and famous, including the Queen, Bono…
Monarch Files for Insolvency in UK’s Biggest Airline Collapse
At the start of this month, many UK holidaymakers were greeted with the shock news that the UK leisure carrier Monarch Travel Group had suspended flights and holidays, leaving many tourists stranded overseas. To get travellers back to the UK,…
Kids Company Directors Face Disqualification
Undoubtedly one of the biggest stories to come out of the charity sector in the last few years was the collapse of Kids Company. This came just a month after it had received a £3m government grant backed by the…
Winning Result for HMRC in “the big tax case” against Rangers Football Club
HMRC has won a landmark victory in a tax avoidance case dubbed “the big tax case” against Rangers Football Club. Five judges unanimously backed HMRC in its lengthy dispute with the Glasgow club over its use of Employee Benefit Trusts…
Why is Inflation at its Highest rate Since June 2013?
Inflation unexpectedly rose to 2.9% in May as prices increased to a four-year high, according to the Office for National Statistics (ONS). The increasing costs of ‘recreational goods’, such as games and toys, particularly computer games was one of the…
5 Key Points: Labour vs. Conservative Government for SMEs
Doesn’t five years pass quickly? It only feels like a couple of years ago we were last at the polls voting to give David Cameron a second term. Yet here we are, once again, scouring the manifestos to see what…
HMRC Wins £3.1 Million Tax Dispute
HM Revenue & Customs has won a £3.1 Million tax dispute against a taxpayer after a judge had ruled the Revenue service could challenge calculations that were made based on HMRC’s technical specifications. The tribunal was called after a scheme…
Labour Plans to Introduce Debt Arrangement Scheme to England & Wales
As part of its election manifesto, Labour has announced its intention to introduce a version of Scotland’s Debt Arrangement Scheme (DAS) into England and Wales. The DAS gives people in Scotland struggling with their debts extra breathing space to repay…