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Corporate > Corporate Recovery

HMRC takes more than three years to probe 3,800 local cases

Almost a quarter of all tax investigations launched by HMRC’s local offices are still unresolved more than 12 months later, a City law firm has claimed. Read full story

UK SMEs owed £67bn in unpaid invoices

British SMEs are now owed £67.4bn in unpaid invoices, a rise of eight per cent from £62.5bn in the last year alone, according to a new study. Read full story

Scottish law firm in administration

A total of 42 jobs have been lost at one of Scotland’s oldest law firms, while 80 have been saved, after the business entered administration. Read full story

Government bans anti-invoice finance terms

Businesses will be freed from restrictive contract clauses that prevent them from gaining invoice finance, when new measures come into force early next year. Read full story

Mark Sands appointed trustee to former England player

Mark Sands of Baker Tilly Creditor Services has been appointed trustee in bankruptcy to former England footballer Kerry Dixon, shortly after the ex Chelsea striker was jailed for nine months. Read full story

FCA’s dawn raids fall 60% in a year

The number of dawn raids undertaken by the Financial Conduct Authority has fallen 60 per cent to its lowest level since the start of the financial crisis, according to a new study. Read full story

Begbies Traynor posts £700,000 loss, as corporate insolvencies fall 14%

Begbies Traynor has posted a pre-tax loss of £700,000 for the 12 months to April 30 2015 – a period in which corporate insolvencies have fallen sharply. Read full story

SUMMER BUDGET: HMRC gets a weapons upgrade

The Summer Budget has confirmed plans to give HMRC powerful new tools to recover unpaid tax –including direct recovery from personal accounts. Read full story

Menzies and Harris Lipman announce merger

Accountancy firm Menzies is merging with Harris Lipman in a deal that both companies claim will create a partnership with £40m of fee income. Read full story

HMRC moves to shut down 3,000 firms

HMRC last year applied to shut down 3,000 businesses to meet unpaid tax bills, according to a new study. Read full story

Begbies launches worldwide advisory group

Professional services firm Begbies Traynor Group has announced the launch of BTG Global Advisory – an international alliance of independent insolvency, restructuring and financial advisory firms operating around the world. Read full story

Corporate insolvencies at lowest level since 2007

Company insolvencies in England and Wales have fallen to the lowest number since the end of 2007, according to the Insolvency Service. Read full story

R3 names new president

Insolvency trade body R3 has announced Phillip Sykes, head of Baker Tilly’s London restructuring practice, as its new president. Read full story

HMRC halves its DCA spend

HMRC has halved its spend on debt collection agencies (DCAs) during the past year, with £6.8m spent on them in 2014 compared to £14.8m in 2013, according to new research. Read full story

Scottish insolvencies drop to lowest for a decade

The number of Scots going bust has dropped in the past year to its lowest level in 10 years, according to the Accountant in Bankruptcy (AiB). Read full story

The I&R Awards 2015: Why we’ve changed the name

The insolvency profession’s most prestigious awards scheme has undergone a name change – to The I&R Awards 2015: Championing best practice in Restructuring, Recoveries and Rescue. Read full story

Lawyers recover £5m from fraudsters’ Caribbean accounts

Lawyers have recovered £5m of insolvent fraudsters’ cash from a Caribbean bank, in actions that may have been impossible had it not been for a government policy change. Read full story

Chantrey Vellacott to merge with Moore Stephens

Mid-tier accountancy firm Chantrey Vellacott is to merge with Moore Stephens, it has been announced today. Read full story

Customer redress and fines costs banks nearly £40bn

Soaring levels of customer remediation, conduct failings and fines have cost Britain’s biggest banks £38.7bn, according to a KPMG report. Read full story

Begbies Traynor acquires Broadbents

Insolvency and restructuring firm Begbies Traynor has acquired the trade and assets of Broadbents Business Recovery Services, a Yorkshire-based insolvency practice. Read full story