Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
04 November 2020
Coronavirus - when can business debt become a personal obligation?Business support packages and tax deferrals schemes have been a lifeline for the majority of businesses during the pandemic, with the Coronavirus Job Retention Scheme being one of the most significant. At last count, on 20 September, HMRC confirmed that 1.2 million employers had made use of the scheme which equated to a claims value of £39 billion.
01 September 2020
Restructuring doesn’t need to mean the end of your business – in fact, it could save itIt has undoubtedly been one of the toughest periods in living memory for Scottish businesses. As lockdown lifts, businesses will be faced with a whole new set of challenges and planning ahead will be essential. Richard Bathgate, Restructuring Partner, explains why speaking to a Restructuring adviser doesn’t need to mean the end of your business.
17 August 2020
Business resilience – the antidote for COVID-19There’s been a lot of concern expressed that an imminent rise in corporate failures is on the cards as soon as support from the government unwinds. While I think a rise is likely, I don’t feel it’s bleak as the commentators are suggesting. As with any challenging time in business, it’s not the biggest or strongest that survive, it’s those that can adapt the quickest.
05 August 2020
HMRC preferential creditor status restored – what this means for lenders and directorsHMRC’s secondary preferential creditor status was restored on 22 July when the Finance Act 2020 received Royal Assent. This makes HMRC, once again, a priority creditor to pay when a company goes into administration or liquidation from 1 December 2020.
07 July 2020
Business as usual in a global crisisDonald McNaught reflects on the UK Budget announcements in March and explains that delayed IR35 changes remain on the horizon, and contractors will still need to wind up their personal service companies.
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