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
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
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
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 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
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
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
We provide Insolvency Practitioners with a tailored end to end Post-Insolvency Debt Collection Service. We provide our service in collaboration with Silverback Commercial Law who offer competitive rates if legal action is required to recover monies owed.… Continue Reading
HM Revenue & Customs has extended the 2019-2020 tax self-assessment deadline by a month, until 28 February to further support businesses and individuals facing difficulties as a result of the pandemic. The official deadline for completing a self-assessment tax return remains Sunday 31 January, after which a £100 late filing penalty would be automatically imposed. […]… Continue Reading
This week (19 January) the government has announced ‘an overhaul of the Prompt Payment Code (PPC) to crack down on delayed invoices owed to small businesses. Under new reforms, companies that have signed up to the Prompt Payment Code will be obliged to pay small businesses within 30 days – half the time outlined in […]… Continue Reading
