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HJS Recovery


4

Dec

Businesses Suffer From Brexit Fatigue

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Posted by:     |     Category: Blog
Businesses Suffer From Brexit Fatigue

Writing this update on the latest position of Brexit has been difficult. The most recent weeks have seen the ‘latest’ updates superseded within days. Yet none of these updates have brought any further clarification or certainty on how businesses can plan for Brexit. In fact, two-thirds of 2,500 companies surveyed by the British Chambers of Commerce back in August stated that they were not doing any preparatory work for Brexit...

4

Dec

The Changing Face Of The UK High Street

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Posted by:     |     Category: Blog, Company Voluntary Arrangements
UK high street

2018 will be known for the year that the look of the UK high street transformed month on month. It’s a year where the struggles of some big brand names were put directly under the spotlight for all to see. Sadly many of them did not recover. As we enter the final weeks of the year, our local high streets lost over 700 stores and left over 35,000 people without a job from retailers including Toys R Us, House of Fraser, New Look...

20

Sep

Difficult retail landscape claims another victim in Orla Kiely

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Posted by:     |     Category: Blog, Company Liquidation
orla kiely

More doom and gloom was cast upon the high street this week as Orla Kiely, the fashion and homeware retailer, ceased trading following the collapse of parent company Kiely Rowan. Directors of Kiely Rowan placed the company in creditors voluntary liquidation after some “challenging” years in both online and high street retail. According to Companies House records turnover of Kiely Rowan grew from £7.2m to £8.3m, however...

3

Sep

New regulation requires banks to disclose customer satisfaction scores

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Posted by:     |     Category: Blog, News
banks to disclose customer satisfaction

Following a joint investigation by the Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA), banks will now be required to publish their customers’ satisfaction scores on their websites, apps and in their branches. The new requirement aims to improve competition in the banking sector, and provide consumers with better information in regard to the services that banks offer. Under the new rules, banks...

30

Aug

Research finds over £2 billion stolen via credit card fraud in last year

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Posted by:     |     Category: Blog
credit card fraud

Research carried out by comparison website comparethemarket.com has revealed that more than £2 billion has been stolen from individuals’ debit and credit card accounts in the last year. The research found that 4.7 million people across the UK have been victims of fraud in the last year. According to comparethemarket.com, almost five million individuals have had their debit card, credit card or bank account replaced or cancelled...

29

Aug

HMRC increases late tax payment rate

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Posted by:     |     Category: HMRC Arrears, News
late tax payment

HMRC has announced an increase in its late tax payment rate, although it has not increased the corresponding interest rate for repayments to taxpayers who have overpaid their tax. The decision to increase the late payment rate follows the Bank of England’s recent decision to increase UK interest rates to 0.75%. HMRC has increased the late tax payment rate from 3% to 3.25%, while the repayment rate remains static at 0.5%. An HMRC...

16

Aug

CIOT welcomes MTD for VAT ‘soft landing’ concession for taxpayers

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Posted by:     |     Category: VAT Arrears
MTD for VAT

The Chartered Institute of Taxation (CIOT) has welcomed the legal status given to the Making Tax Digital for VAT (MTD for VAT) ‘soft landing’ period, which is intended to help taxpayers who may find it difficult to comply with the IT demands associated with the initiative. The MTD for VAT regulations are set to take effect from 1 April 2019, and will apply to VAT-registered businesses with a taxable turnover above the VAT registration...

15

Aug

Official figures reveal boost in UK economic growth

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Posted by:     |     Category: Blog, News

Figures published by the Office for National Statistics (ONS) have revealed a boost in UK economic growth. The UK economy grew by 0.4% in the three months to June, the ONS revealed – a rise when compared to growth of 0.2% recorded in the first quarter of 2018. Real household disposable income per head increased by 1.4%, representing its biggest increase since the fourth quarter of 2015. However, the data also showed that the...

15

Aug

Business groups respond to interest rates rise

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Posted by:     |     Category: Blog, News
interest rates rise

Business groups, including the Confederation of British Industry (CBI), the British Chambers of Commerce (BCC) and the Institute of Directors (IoD) have responded to the Bank of England’s decision to raise interest rates for the second time in a decade. Members of the Bank’s Monetary Policy Committee (MPC) voted to raise interest rates from 0.5% to 0.75% – representing the highest level since March 2009. Bank of England Governor...

13

Jul

The future continues to look bleak for High Street retailers

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Posted by:     |     Category: Blog, Company Voluntary Arrangements
high street retailers

If the first half of year is anything to go by, we’re likely to see more High Street names hit the headlines announcing store closures and job losses. 2018 seems to be the year that popular businesses have had to finally address their financial problems head on. Over the last few months, big names like Marks & Spencer, House of Fraser and Mothercare have all announced store closures as part of CVA discussions with their creditors....


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