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Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

The number of Scottish firms undergoing business insolvency in the whole of 2015 was down 7.6% during 2015 according to analysis of the latest figures by restructuring, recovery and insolvency boutique mlm Solutions. The latest Accountant in Bankruptcy (AiB) figures show that 828 Scottish firms failed during 2015 compared with 896 the previous year (please note that the AiB uses the financial year April to March as its base so although their current figure states Q3 this refers to October to December 2015 which we call Q4). However, there was a 41.1% increase between Q3 and Q4 and a 31.5% increase on the same quarter in 2014 and this marks two consecutive substantial increases in the latter half of 2015.

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Self Assessment may lead to financial distress

Self Assessment may lead to financial distress

Filling in a self assessment form by January 31st may not be the only problem many individuals, business owners and high net worth individuals face, according to recovery, restructuring and insolvency boutique mlm Solutions.

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Keith Anderson Warns Over Tax Increases in Solvent Liquidations

Keith Anderson Warns Over Tax Increases in Solvent Liquidations

New rules regarding Entrepreneurs Relief are coming into effect from 6th April 2016 which will impact capital distributions received in the solvent liquidation of a company where the individual shareholder is involved in a similar company after the distribution. Keith Anderson, of restructuring, recovery and insolvency boutique mlm Solutions, has warned that the clock is now ticking for affected companies and individuals to implement members’ voluntary liquidations (MVL) in order to save up to 35% tax.

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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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Bankruptcy Consolidation Bill

Bankruptcy Consolidation Bill

A new Bill has been introduced to the Scottish Parliament that will bring Scottish laws on insolvency together into one piece of legislation for the first time in a generation.

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