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Top Service News

Top Service Ltd: Response to Rogue Recovery

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The Insolvency Service has announced the High Court’s decision to wind up rogue recovery service Global Investigations and Recoveries Limited (17 May 2021).  The Government press release published 2 June 2021[1], states that Global Investigations and Recoveries Ltd failed to ‘co-operate with the Insolvency Service’s enquiries and did not deliver any accounting or trading records. Investigators […]… Continue Reading

Creditors Rights

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Every year, thousands of insolvency notices are sent to creditors of companies that are subject to some sort of formal insolvency procedure. In our experience, these notices are either disregarded or treated with apathy due to the general perception that the insolvency of a customer will lead to a full debt write off and dividend […]… Continue Reading

Online court fees to increase from 18th May 2021

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Today (Tues 11th May 2021) following consultation by the courts on the alignment of court fees. The online discount received for any work issued through MCOL (money claims online) is to be cancelled from the 18th May 2021. From that date all online court fees will be increased to the current standard paper fee. The new fee […]… Continue Reading

Warning signs for Creditors

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To a business recovery and insolvency expert it may be obvious that a company is heading towards financial difficulty or even insolvency proceedings.  A creditor however may not see the warning signs when a business owner is “putting their head in the sand” and avoiding the reality of the situation.    Insolvency is not an instant […]… Continue Reading

Government announces further three-month extension to issuing statutory demands and winding up petitions

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This week (25th March 2021) the government has updated the Corporate Insolvency and Governance Act by extending the moratorium period for issuing winding up petitions and statutory demands, against companies, to the 29th June 2021  in order to relieve pressure being placed on businesses dealing with coronavirus. To help protect businesses from insolvency a number of changes were introduced […]… Continue Reading

Welcome announcement: Newly Appointed Small Business Commissioner Liz Barclay, to ‘spearhead’ crackdown on delayed invoices

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The government has this week (16 March 2021) announced the appointment of Liz Barclay as Small Business Commissioner to ‘spearhead the national effort to crackdown on delayed invoices – which cause thousands of small businesses to close every year.’[1] The government press statement announced Liz Barclay as the first female Small Business Commissioner to take […]… Continue Reading

Top Service Ltd: Response to Monthly Insolvency Statistics

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New statistics on company and individual insolvencies in England and Wales for February 2021 have been released by the Government Insolvency Service and reports that since the start of the first UK lockdown the overall numbers of company insolvencies have remained low compared to pre-pandemic levels.  The overall reduction in company insolvencies is in part driven by the […]… Continue Reading

We have come a long way in 30 years!

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We started in an old damp building with one typewriter, one photocopier, one landline phone and a fax machine in 1991, at the height of a recession.  Telephoning the office when out on the road involved finding a working phonebox and having plenty of change! In those days most businesses paid either by cash or cheque […]… Continue Reading

VAT Domestic Reverse Charge for Building and Construction Services

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From today (1 March 2021) the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and reduced-rate VAT services: for individuals or businesses who are registered for VAT in the UK reported within the Construction Industry Scheme What is the VAT Domestic Reverse Charge for Building […]… Continue Reading

Top Service Ltd, celebrating 30 years supporting the construction industry

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Today (26th February 2021) Top Service Ltd marks 30 years of trading in support of the construction industry. Redditch based firm, Top Service is the ‘only credit reference and debt collection agency’ aimed specifically for the construction sector. Founders Lisa Cardus and Kevin Halligan started the company in 1991 with one mission to become ‘the […]… Continue Reading