keeping you up to date
A Government press release published today, confirms that temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October 2021.
Supply Chains: The impact of stock shortages Comments from Charles Brook, Partner at Poppleton & Appleby. Several months ago, I commented upon the pressure that seemed to be accumulating across various industry supply chains. The causes were numerous, but different sectors attributed it severally to Brexit, the pandemic, social trends, and general economics. A repetitive media topic ahead of Brexit was the anticipated impact upon the cross-border mobility of key personnel in agriculture, transport, construction, hospitality, and health, but there [...]
At the outset of the pandemic, the UK treasury announced a series of measures aimed at protecting the business community from the full natural effects on businesses of lockdowns, enforced closures and other restrictions to trade.
How can a business protect itself from insolvency? Poppleton and Appleby partner, Stephen Wainwright discusses in his latest blog.
A business exit strategy covers the plan for the owner of the company to either sell or reduce their share of ownership, either to investors or another business. Exit strategies can be implemented for a number of reasons, both positive and negative, including retirement or damage limitation if the company is in trouble financially. It may also be used by investors in order to plan for a cashing-out on an investment.
How to spot signs of customer or supplier insolvency Despite the total number of corporate insolvencies in Q1 2021 (January to March) decreasing by 22 per cent from Q4 2020, the withdrawal of Government support schemes in the next few months will likely lead to an increase of pressure on struggling businesses. The knock-on effects of suppliers or customers entering insolvency procedures can be potentially disastrous for any business. If issues are not addressed quickly with a business plan swiftly [...]
Under a new bill “Ratings ( Coronavirus ) and Directors Disqualification (Dissolved Companies ) Bill”, the Insolvency Service will have retrospective powers to investigate Directors who have abused the Government support Schemes.
All you need to know about the Recovery Loan Scheme The government has revealed new statistics to show how the Government-backed loans have supported businesses through the pandemic - including the Bounce Back Loan scheme, which provided a loan roughly every 20 seconds since its launch last May. The recent announcement from HM Treasury stated that: Three Bounce Back Loans were issued every minute since May 2020 launch Emergency loans provided almost £180 billion in total since March 2020 The [...]
Alternative business funding – what to consider? A number of the Government stimulus come to an end in March 2021 including deferred payments to HMRC for VAT, and Corporation Tax etc. which will fall due for payment in March albeit these can be spread over 11 months. These measures coincide with the winding down of the Furlough Scheme in April 2021, placing a further financial burden on many businesses. We will shortly enter a phase where traditional bank funding will [...]
Remember Brexit? Comments from Charles Brook, Partner at Poppleton & Appleby. For most of the UK population, Brexit will seem like last year’s big deal in the swell and the wake created by COVID-19. Indeed, with all of the economic and social damage created by Coronavirus and the impact that will be experienced for potentially years to come, some may wonder why we should get all heated up again over Brexit which you might be forgiven for thinking cannot possibly [...]