UK Restaurant insolvencies rise by 46% in last 12 months

UK Restaurant insolvencies rise by 46% in last 12 months
Restaurant Insolvencies will continue to grow until interest rates and inflation fall considerably.
Directors be Vigilant! Talk to your Accountant to understand a Director’s Loan Account and your potential Liabilities

Talk to your Accountant to understand a Director’s Loan Account and your potential Liabilities
If your company is liquidated, an overdrawn Director’s Loan Account and Illegal Dividends can lead to Liquidators’ Claims and even Director Disqualification
Directors with Multiple Company liquidations can find themselves with a Personal Tax liability to HMRC.

Directors with Multiple Company liquidations can find themselves with a Personal Tax liability to HMRC.
Directors who have been involved with multiple companies which have become insolvent and have a tax liability with HMRC can receive a personal ‘Joint and Several’ liability notice for payment.
Corporate insolvencies continue to grow, quarterly and month on month.

Corporate insolvencies continue to grow, quarterly & month on month 2023
Businesses facing insolvency need to act quickly and take advice from an Insolvency Practitioner for the best chance of avoiding liquidation.
Directors beware – HMRC issues highest number of winding up petitions since before the Covid-19 pandemic

Directors beware – HMRC issues highest number of winding-up petitions since before the Covid-19 pandemic
HMRC has become more aggressive in its enforcement and collection processes
Antony Batty & Company notes further regulation plan for Insolvency Practitioners

Antony Batty & Company notes further regulation plan for Insolvency Practitioners
A major shake-up will modernise insolvency sector regulation but falls short of the establishment of a new independent watchdog, however
Directors of Limited companies take care when paying Dividends

Directors of Limited companies take care when paying Dividends
Illegal Dividends – Misfeasance Claims and Director Disqualification can be the outcome for Directors of Liquidated Companies
Antony Batty & Company Employee Focus: Will Rushing

Antony Batty & Company Employee Focus: Will Rushing
Will is a Junior Administrator and is based at our London office.
Cash is King for Businesses in Distress

Cash is King for Businesses in Distress
We point out that cash is king when it comes to the survival of a business. This article explains why and looks at the actions that companies should take to improve their cash flow and their future prospects.
Why you should do a check before you choose your Business’s suppliers

Why you should do a check before you choose your Business’s suppliers.
Conduct checks before entering into a business relationship and in so doing, HELP avoid doing business with an entity that may be facing Insolvency.