Tax Avoidance Schemes & APNs

There has been recent widespread media coverage of aggressive tax repayment demands by HMRC. These demands have caused significant distress, with many individuals facing unexpected payment demands and resulting severe financial difficulty. Unaware that their participation in these schemes might be seen as tax avoidance, this has come as a huge blow to many – and some may never recover financially.

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Formula 1’s Manor team collapse, following administrators fail to find a buyer

Manor, the team which started life as Virgin Racing in 2010, have ceased trading today, Friday 3rd February, after administrators FRP Advisory have failed to find a buyer for their operating company, Just Racing Services.  While this doesn’t definitively spell the end for Manor, who have experienced administration once before in 2014, if a buyer was to come in now, it would be unlikely for the team to be ready to compete in the opening race of the upcoming championship.  There have been calls for stricter regulations into F1, particularly in the distribution of prize money amongst less well-established teams.

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Tens Of Thousands Lose Out After Budget Travel Firm Calls In Administrators

Tens of thousands of British holidaymakers face losing not only their holidays, but their money, after budget travel firm Lowcostholidays group went into administration this summer. When administrators were called in the travel company had 27,000 customers enjoying their holidays across the globe, and a further 110,000 customers booked for the peak summer months. Passengers were left unsure about what would happen with their holidays, but it has been revealed that the online travel company did not have an ATOL licence - meaning tens of thousands will not get their money back.

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What Impact will Brexit have on Your Business

The UK has decided to leave the EU following the referendum on 23 June. This decision will affect the UK economy, policy and legislation and will impact on the operating environment for your business. There could be unforeseen financial pressures on your business, or indeed businesses you trade with, which will need to be taken into account in setting your business strategy going forward. It is worth bearing in mind that the changes will be implemented slowly, but the economic environment may become more challenging quite quickly.

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Money Statistics for January 2016

Some people, often through no fault of their own, find themselves with debts they struggle to repay. We understand how money worries affect everyday life and that facing up to financial challenges can be extremely difficult and stressful. Seeking help is not easy but, from our experience, it really is an important step. You should be reassured to know that there are options available and, with the right advice and support, you can look forward to a more financially secure future.

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