The Government’s loan support schemes have helped many businesses to weather the storms caused by COVID-19. By the end of June, over 1 million loan applications had been approved amounting to total lending of £42.9bn, of which £29.5bn related to the Bounce Back Loan (BBL). Unlike the Coronavirus Business Interruption Loan (CBIL), for which there …
Author: Louise Freestone
Louise Freestone is a Licensed Insolvency Practitioner with 12 years of experience in restructuring, turnaround and insolvency. She leads Bridgewood's corporate insolvency team.
Articles by Louise
The Corporate Insolvency and Governance Bill is currently making its way through Parliament and is expected to become law by the end of June 2020. There are a number of key aspects to the Bill as far as insolvency is concerned, but perhaps the most striking is the introduction of a new statutory Moratorium process. …
The key measures – as at 19th March 2020 Businesses of all sizes will have access to a £330 billion package of Government-backed loans and guarantees. The Chancellor said he would go further and provide “as much capacity as is required”. This will be delivered through two streams, both of which will be up and …
To enter Administration, a company needs to be, or is likely to become, insolvent, where either the company’s liabilities exceed its assets, or it is unable to pay its debts as and when they fall due.
How are funds distributed in a Liquidation and who is at the top of the pecking order? In this month’s article we discuss the strict hierarchy within the Insolvency Act, which determines the order that creditors will be paid during liquidation.
We all know that Taxes should be paid when they fall due, however HMRC will usually agree a payment arrangement, known as Time to Pay (TTP) in order to clear any arrears. Here are 5 top tips to help you and your clients achieve the best outcome with HMRC
If a director, manager or secretary of a company fails to pay VAT, PAYE or National Insurance Contributions (NIC) deductions and HM Revenue & Customs (HMRC) consider that non-payment was due to fraud or neglect, then they have the power to issue the individual with a Personal Liability Notice (PLN).
Find out how taking early action and following effective steps can help businesses minimise the threat of insolvency.
The introduction of Accelerated Payment Notices (APNs) by the Finance Act 2014 remains one of the most talked about measures introduced by the UK tax authority to clampdown on what it considers to be tax avoidance.
Company Voluntary Arrangements (CVAs) are an insolvency procedure designed to rescue a business through a re-structuring of its liabilities to creditors.
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Paul Mallatratt (Licence No. 2039) and Louise Freestone (Licence No. 2030) are licensed to act as insolvency practitioners in the UK by the Institute of Chartered Accountants in England and Wales and are subject to their Code of Ethics, available in English at www.icaew.com[...]code-of-ethics-d
In carrying out the regulated profession of Insolvency, the firm is subject to the Insolvency Regulations and Guidance Notes at www.icaew.com/insolvency and the Statements of Practice at www.icaew.com[...]insolvency-regulations-and-standards