2024-05-01 13:23
After an almost relentless stream of bad news for UK businesses, The Insolvency Service has finally reported a drop in company insolvencies. March 2024 saw 1,815 companies file for insolvenc… Read More
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Advice articles for business owners and company directors whose companies are in difficulty.
2024-05-01 09:20
Multiple construction firms are among a staggering 554,554 UK businesses currently classed as being in “significant financial distress” according to the latest Red Flag Report. T… Read More
2024-04-26 08:34
Purchasing a company is a huge responsibility. That’s why it’s important to have a list of due diligence questions to ask when buying a business. Anybody serious about selling th… Read More
2024-04-17 07:45
A homeowner selling their house may apply a lick of paint to attract buyers, while a mechanic might fix a car’s issues in order to gain a better price for it. Preparing a company for s… Read More
2024-04-16 10:39
Business owners deemed to have abused the Bounce Back Loan scheme are being targeted by The Insolvency Service. The government body revealed that it has already had over 800 company director… Read More
2024-04-09 10:41
Struggling fashion designer, Ted Baker has announced that 15 of its retail stores are set to close. The decision comes after administrators identified several outlets that weren’t prof… Read More
2024-04-09 10:22
Buying a company that’s already established is the perfect way to become a business owner. Not only do you avoid all of the struggles involved in building a startup from scratch, but y… Read More
2024-04-04 13:09
A recent study has shown that 33% of UK SME owners have no idea what their own businesses are worth. The surprising findings were pooled from the responses of over a thousand directors in th… Read More
2024-03-22 11:34
If there’s one question that we hear worried business owners ask more than any other, it’s if my limited company goes bust, will I lose my house?” It’s an understanda… Read More
2024-03-20 10:40
Jeremy Hunt has acted on the public backlash against proposed plans to close HMRC helplines for 6 months each year. In a dramatic change in how they deal with public enquiries about t… Read More
2024-03-19 16:00
HMRC are starting to clamp down on business research and development payments, with some being asked to pay back money they’ve previously been awarded. This follows announcements from… Read More
2024-03-18 16:16
Whenever we’re asked how to improve business credit score ratings, the answer is always the same: which one? Credit scores for businesses are created by many more outlets than a person… Read More
2024-03-18 09:56
Collecting unpaid invoices is perhaps one of the least favourite tasks that a business owner has to complete. Unfortunately, though, there will always be customers that allow their invoices… Read More
2024-03-15 11:57
There’s a familiar look to February 2024’s insolvency statistics. Not only has the number of insolvencies increased from the same period last year again, but it’s also rise… Read More
2024-03-06 15:50
Chancellor Jeremy Hunt’s spring budget didn’t veer far from the script in terms of what was predicted beforehand. Indeed, it was every bit the typical election year budget, in wh… Read More
2024-03-05 10:44
As the last major fiscal event that’s likely to occur before the next general election, all eyes are on Chancellor Jeremy Hunt’s budget announcement on Wednesday 6th March. UK bu… Read More
2024-03-01 17:04
It pays to be aware of the tax on selling a business. The last thing any seller wants to see is their profits eaten into by a huge tax bill on completion. Luckily though, there are a few dif… Read More
2024-02-27 13:08
Houthi attacks on western shipping vessels in the Middle East are set to have the knock-on effect of pushing up costs for UK businesses and consumers. Already struggling with price hikes lin… Read More
2024-02-26 11:36
It’s rare that a company implodes overnight. In most instances, ventures sputter out over a fairly long period of time before the owners begrudgingly hoist the white flag. Because of t… Read More
2024-02-21 08:44
The Insolvency Service’s monthly report has recently been released, and provided little hope for those with their fingers crossed for a stronger new year. As we saw throughout 2023, th… Read More
2024-02-20 13:46
If you’ve been wondering how to value a business, UK guidelines may differ from some of the other methods you may have seen online. There are multiple factors that British business own… Read More
2024-02-13 11:39
In yet another potential hit to the high street, The Body Shop announced that it’s set to appoint administrators soon. The ethical skincare brand is reportedly operating with insuffici… Read More
2024-02-12 15:24
Selling a business as a going concern requires a few extra considerations compared to a straight sale of goods and assets. This is especially true of companies that employ a significant amou… Read More
2024-02-06 14:07
A recent study conducted by PwC has highlighted the effect that rising energy bills have had on UK businesses. The survey, conducted in November and December last year, collected the thought… Read More
2024-02-05 16:49
Financing a business acquisition can be an excellent way to grow your company. Established businesses already have the staff, equipment, and contracts in place to allow you to hit the ground… Read More
2024-01-30 14:34
In only the first month of 2024, a glut of UK breweries have already announced plans to close or scale back operations. Hot on the heels of a rough year for hospitality and manufacturing, 20… Read More
2024-01-26 13:21
From late January, HMRC are rolling out letters to online traders they suspect may not be paying the VAT amounts they should. ‘High-volume addresses’ in particular will be target… Read More
2024-01-17 08:55
2023 saw almost 5,000 property sales and letting branches close as a result of the UK’s difficult economic climate. A recent report on the state of the property market published by Twe… Read More
2024-01-16 16:01
When it comes to corporate insolvencies, 2023 started as it ended, with consistently higher numbers than 2022 for 10 months out of the year. The Insolvency Service’s report on December… Read More
2024-01-11 16:20
When it comes to selling a business, preparation is key to experiencing a trouble-free transaction. There are a multitude of factors and moving parts that need to be considered before your c… Read More
2024-01-09 11:56
Two separate reports published by PwC and Zoho, have warned of a difficult 2024 for business owners. The recent studies suggest that corporate insolvencies will continue to grow, with inflat… Read More
2024-01-04 09:33
Boxing Day’s retail footfall fell by 1.2% compared to last year’s figures, continuing a year-on-year trend of declining shopper traffic. Johnson Control’s retail advisory a… Read More
2023-12-21 10:35
Before any CVL (creditors’ voluntary liquidation) can be executed, a statement of affairs will need to be prepared and verified. But what is a statement of affairs, exactly? Wha… Read More
2023-12-21 10:11
A rise in the number of UK insolvencies from both the month prior, and the same period last year, continues a familiar tale of woe for British businesses. Neither Black Friday, nor the lead… Read More
2023-12-20 14:17
Running a business can be a rewarding endeavour, but it also comes with its fair share of challenges. Whether you’re a seasoned entrepreneur or just starting your entrepreneurial journ… Read More
2023-12-20 13:28
It’s hard to believe, but for the first time, the UK’s charitable sector faces an unprecedented and deeply concerning crisis: insolvency. Charities, often seen as pillars of supp… Read More
2023-12-14 16:52
In more bad news for the construction sector, GMB Union has warned The Secretary of State for Housing, Michael Gove, that the brick industry is “on the brink of collapse”. The co… Read More
2023-12-13 09:33
The last year has left directors anxious about how to manage small business finances in the face of so many challenging circumstances. Years on from the COVID-19 pandemic, businesses are sti… Read More
2023-12-12 10:29
An estimated 20,000 jobs lost from big-name brand closures 649 banks close, taking account access away from those without internet Over 1,000 branches across 38 household names have disappea… Read More
2023-12-08 09:10
In a shocking turn of events, Signa, a major shareholder in the renowned British department store Selfridges, has filed for insolvency. Signa’s owner, billionaire René Benko now… Read More
2023-12-07 08:45
In recent years, the United Kingdom has witnessed an alarming surge in business insolvencies, a trend that is not only affecting the business recovery industry but also raising concerns abou… Read More
2023-12-05 16:06
In welcome news for the retail sector, research has shown that shoppers are set to spend more this Christmas than last year. Deloitte’s Consumer Tracker report suggests that the Britis… Read More
2023-12-05 11:24
In the dynamic landscape of business, securing financing is often a crucial step for growth and stability. Among the myriad financing options available, unsecured business loans have gained… Read More
2023-11-30 13:33
For those not paying attention, value added tax (VAT) is a consumption tax imposed on the value added to goods and services at each stage of production or distribution and sadly, it’s… Read More
2023-11-30 09:25
Figures released by Ernst & Young’s strategic arm, EY-Parthenon, show that the number of profit warnings from UK businesses has dropped for the first time in two years. Quarter thr… Read More
2023-11-24 16:46
In private moments of contemplation, many company owners have thought ‘I think I want to sell my business’. After a few better weeks of trading though, such thoughts are often fo… Read More
2023-11-23 16:06
After previously insisting in the weeks prior that tax cuts were “virtually impossible” owing to the state of the UK’s current finances, Chancellor Jeremy Hunt unveiled sev… Read More
2023-11-21 13:49
Overview Our client, an IT consultant, operated as a limited company in order to satisfy the needs of their main contractor. Established back in 2012, the owner had enjoyed some success as t… Read More
2023-11-20 16:04
With so many dates and bills to remember swirling around the heads of business owners, you can be forgiven for occasionally forgetting the PAYE deadline. Beware though, that late PAYE paymen… Read More
2023-11-20 15:33
Recent Insolvency Service reports show that the UK restaurant sector is encountering insolvencies at a rate of 46% more than last year. A slowdown in customer spending and surges in operatin… Read More
2023-11-17 09:34
Business tools are essential for any business, regardless of size or industry. They can help businesses to streamline their operations, improve efficiency, and boost productivity. In the eve… Read More
2023-11-14 16:18
It’s a familiar tale being told by today’s insolvency report for October. The monthly statistics, published by the Insolvency Service, show that businesses are still closing at a… Read More
2023-11-10 10:00
The Night Time Industries Association (NTIA) recently published some grim findings for anybody involved in the night time economy. Figures compiled by CGA Nielson IQ show that around 43 UK n… Read More
2023-11-08 15:46
Following the success of last year’s ad campaign, Forbes Burton have released another winter commercial that shows the financial pressures that small business owners have felt over the… Read More
2023-11-07 13:53
It’s vitally important to guard your business against some of the main causes of cash flow problems. If your company’s cash flow is poorly managed, you can quickly find debts spi… Read More
2023-10-31 16:39
RSM have reported that not only have UK insolvencies dropped by 5% for Q3, but that a forecasted further fall in numbers for Q4 is likely. The accountancy professional services network has s… Read More
2023-10-27 09:35
Beleaguered retail brand, Wilko, is poised for a surprise return to UK high streets after falling into administration in August this year. This comes after news of some of its stores being b… Read More
2023-10-26 14:54
Two influential players in the booming e-bike industry, Wiggle and Mate Bike, have found themselves entangled in financial turmoil, echoing the uncertainty plaguing the e-bike market’s… Read More
2023-10-25 13:47
Influential credit rating agency, Moody’s, has changed its assessment of the UK from ‘negative’ to ‘stable’, providing a much-needed boost to its economy. Moody… Read More
2023-10-24 13:47
The term “liquidation” often evokes images of financial distress and company dissolution. It also suggests failure, but it’s not always as clear cut as that. In fact, not a… Read More
2023-10-24 12:35
Overview Our client purchased a dentistry practice back in 2019 for around £400k. The practice had been established the year prior and had already amassed almost 3,000 active clients… Read More
2023-10-19 10:18
The HMRC Debt Management Office is set up to facilitate the settling of tax debts via more manageable payment plans. For limited companies faced with daunting HMRC bills, this option can oft… Read More
2023-10-19 08:08
There’s good news and bad news within the latest insolvency statistics released by the Insolvency Service. While the total number of corporate insolvencies this September was higher th… Read More
2023-10-17 12:54
Overview Importing and selling seasonal goods and gifts, our client was formed in 2014, and had enjoyed some success with their wholesale sales model. They had grown to a good size and… Read More
2023-10-13 09:05
In 2019, a PwC survey revealed an alarming disconnect: 70% of business leaders had grappled with a crisis within the last five years, yet only 30% felt their teams were equipped to… Read More
2023-10-11 14:40
Recent statistics published by Reuters reveal that the first half of 2024 is likely to see a large number of company loans and bonds come to maturation. This is expected to prompt a host of… Read More
2023-10-10 15:30
If you’re looking to sell an insolvent business, you may question why anybody would be interested in a company that has debts it cannot pay. Indeed, to business owners that have been w… Read More
2023-10-03 15:16
If you’ve recognised that your business is struggling, not only might you be wondering “how do I dissolve a company?”, but you may also be considering whether dissolution i… Read More
2023-09-26 10:40
In the dynamic and ever-changing landscape of the business world, companies, both large and small, can face financial challenges that may lead to insolvency. Insolvency is a term that often… Read More
2023-09-19 15:42
The latest data from the Office for National Statistics (ONS) reveals a significant increase in the number of UK companies going into insolvency during August. This development has rightly p… Read More
2023-09-12 10:15
Why you need to monitor your business’ cash flow Cash flow is the lifeblood of any business. It is the movement of money into and out of a business, and it is essential for ensur… Read More
2023-09-12 09:03
The United Kingdom’s once-thriving construction industry is facing an increasingly perilous journey as it grapples with the looming threat of insolvency. A confluence of factors, inclu… Read More
2023-08-31 09:09
Navigating the ebbs and flows of economic challenges is an essential skill for any business, but it’s not always easy. Many unexpected forks in the road and disasters await any busines… Read More
2023-08-29 09:59
A business exit strategy is a plan for how a business owner will leave their business. This could include selling the business, passing it on to a successor, or dissolving the business. Ther… Read More
2023-08-24 13:26
With the current cost of living crisis, it’s not only individuals who are struggling – it’s businesses too. Smaller/medium enterprises may be finding it difficult to operat… Read More
2023-08-17 08:59
The Insolvency Service has published its latest company and individual insolvency statistics for England and Wales for July 2023. Headlines from the latest monthly insolvency statistics are:… Read More
2023-08-15 09:51
A strong company culture is the backbone of any successful organisation. It sets the tone for how employees interact, collaborate, and engage with their work, ultimately impacting productivi… Read More
2023-08-11 10:08
No, it is not illegal to dissolve a company with debts, even if it has a Bounce Back Loan. However, the process must comply with all statutory responsibilities. The Administrative Dissolutio… Read More
2023-08-10 09:53
When it comes to retailers and financial stress, the narrative seems to be stuck. Over the past decade or more, there have been what many would have considered to be institutions fall by the… Read More
2023-08-07 09:00
Introduction: Growing a business is the thing most business owners want to do, however, in the ever-evolving landscape of entrepreneurship, finding the right path to sustainable growth can s… Read More
2023-08-02 13:16
The Pandemic certainly threw the business world a lot of curveballs and we are still feeling the repercussions now. It is said that zombie companies that have survived since will now be wipe… Read More
2023-07-27 09:24
As a business owner competing in today’s economy, you know the importance of managing your financial resources and protecting yourself from credit risks. But with so many competitors v… Read More
2023-07-24 14:30
They often say that business owners don’t spend enough time on their business as they are too concerned with being ‘in’ it. This is especially true when it comes to when a… Read More
2023-07-18 08:41
Dealing with an Overdue Corporation Tax Letter from HMRC: What Businesses Should Do Running a business entails various responsibilities, including managing finances and complying with tax re… Read More
2023-07-17 15:52
Selling a business is a significant milestone for any business. Whether it’s due to retirement, pursuing new opportunities, or simply wanting to cash in on your hard work, selling a bu… Read More
2023-07-14 15:05
There’s a lot of talk out there of companies experiencing trouble at the moment. Indeed, insolvencies are up at around 40%. But what is liquidation? Sometimes it’s something that… Read More
2023-07-14 13:32
Restaurants and cafes across the UK are going insolvent at a pace not seen for more than a decade, new research shows. A total of 3,347 eateries have been unable to pay their debts in the pa… Read More
2023-06-28 12:40
The number of registered company insolvencies in May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022). This was higher than levels seen while the Go… Read More
2023-06-23 14:41
Running a business can be an exhilarating journey filled with triumphs and challenges. As a business owner, you may find yourself constantly juggling various responsibilities, striving for s… Read More
2023-06-22 12:12
Receiving a letter regarding an overdue VAT payment can be a cause for concern for any business. Paying VAT (Value Added Tax) is a crucial component of a company’s financial obligation… Read More
2023-06-21 14:20
Starting a small business can be an exciting venture, but it often requires a significant amount of capital. Whether you need funding for equipment, inventory, or hiring employees, a small b… Read More
2023-06-19 14:32
Company Voluntary Arrangements (CVAs) have become an increasingly popular option for struggling UK businesses to navigate financial difficulties while avoiding having to close the company. A… Read More
2023-06-06 12:09
In today’s fast-paced business landscape, maximising productivity and efficiency is crucial for staying and achieving sustainable growth. Regardless of the industry or size of your bus… Read More
2023-05-24 12:20
Update 6 – added 12th May 2023: Following on from our previous updates, we can now provide you with some further information relating to the recovery of outstanding Bounce Back Loan&rs&hell…Read More
2023-05-24 12:19
Update 5 – added 9th February 2023: Following on from our last couple of updates, we have recently been notified of an update regarding the Covid-19 Loan guarantees schemes from the di… Read More
2023-05-24 12:19
Update 4 We previously advised that as the lender, the banks are required to follow an internal recovery process and once they have exhausted all options, they can then request for payment u… Read More
2023-05-24 12:18
Update 3 As the lender, the banks are required to follow an internal recovery process and once they have exhausted all options, they can then request for payment under the Government Guarant… Read More
2023-05-22 13:35
Here at Forbes Burton, we understand the trials and tribulations that come with running a business. Even if you aren’t currently struggling, a review is never a bad idea. Taking a stra… Read More
2023-05-15 10:13
Mental health is a crucial aspect of our overall well-being that affects how we think, feel, and behave. According to Mind, one in four people in the UK experience a mental health problem at… Read More
2023-05-12 14:41
Overview Observing that children struggle to kick a full-weight football, our client was formed in 2016 and set about designing, manufacturing, and retailing its “lightweight” ra… Read More
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