BTG Exeter

@Begbies Traynor #Exeter. The UK's leading business rescue and recovery specialist.

[Insolvency Service @insolvencygovuk]

The Insolvency Service and @R3PressOffice Diversity & Inclusion Steering Group aims to improve diversity and inclusion in the insolvency profession. R3 members should look out for a special survey, coming soon!

Read about the aims of the Steering Group: https://t.co/fUBnnmKvQI

[BTG Exeter @BTG_Exeter]

https://t.co/iDi4lX19fK

[BTG Exeter @BTG_Exeter]

Business collapse fears...

[Real Business Rescue @RealBizRescue]

Representatives of the Institute of Directors (IoD) and the #insolvency industry’s main trade body R3 have written to the government expressing the view that many British businesses could soon be facing collapse. #WUP https://t.co/GXjbI8qyW8

[Real Business Rescue @RealBizRescue]

HMRC views disaggregation as tax avoidance and you could incur heavy penalties, including fines and prosecution, if they believe you’ve disaggregated your business to avoid paying tax. https://t.co/fm6YIDBCjV

[R3 Press Office @R3PressOffice]

Everyone needs advice from time to time – and the #insolvency & #restructuring profession is an important source of professional and qualified advice.

In 2019, the UK profession advised *60,000* businesses and *144,000* individuals about their finances #R3VOP /3

[R3 Press Office @R3PressOffice]

The value of the profession: How #insolvency & #restructuring supports the UK economy https://t.co/zO2mRFUwzH

Our new report sets out how the profession rescues businesses, saves jobs, gives personal finance advice, & returns money to creditors. #R3VOP /1

[BTG Exeter @BTG_Exeter]

https://t.co/38HjW6PS4H

[BTG Exeter @BTG_Exeter]

Overdrawn directors’ loan accounts in liquidation...

[Redundancy Claim @RedundancyClaim]

As the company is a separate legal entity to its directors, any monies taken that exceed the amounts invested create an overdrawn position and are essentially loans from the company. https://t.co/HSkWcXikha

[Real Business Rescue @RealBizRescue]

The government and HMRC have issued a warning to businesses to be on the lookout for operators within their supply chains who may be committing fraud via the use of mini umbrella companies. https://t.co/yb2U8F5q6s

[Redundancy Claim @RedundancyClaim]

Limited company directors have a choice of ways in which to pay themselves. They can take a salary through PAYE, receive dividends throughout the year, or use a tax-efficient combination of the two. https://t.co/UM5mLbo9Tb

[Insolvency Insider @InsolveInsider]

A "screaming, glaring" conflict of interest? Litigation funders' cash pipeline hits £2bn - https://t.co/kJ74RoKDEF

[Real Business Rescue @RealBizRescue]

Often, the route with the cheapest initial cost results in the contractor compromising on long-term cost efficiency, because an alternative route could have provided greater tax savings. https://t.co/zWVkXQbNwl

[R3 Press Office @R3PressOffice]

The Government has today confirmed changes to the eligibility criteria for Debt Relief Orders: The thresholds for debt, surplus income and assets will all increase and, as R3 recommended, the vehicle value limit will also be raised.

https://t.co/ZJm8EhdhNa

#Debt #DROs

[BTG Exeter @BTG_Exeter]

The lowdown on a Time To Pay Arrangement... https://t.co/rQnVnFCxaN

[Real Business Rescue @RealBizRescue]

The survey is run by the Office for National Statistics, and sought the views of more than 1,200 businesses across Scotland between April 6 and 18. https://t.co/oT4qD1Jmas

[R3 Press Office @R3PressOffice]

What next for the COVID-19 financial support schemes? https://t.co/SRrWb0LJac

Our new post looks at the potential scale of taxpayer losses incurred, and the #insolvency profession’s role in supporting repayments by helping viable businesses and tackling #fraud.

[BTG Exeter @BTG_Exeter]

https://t.co/smjSAa4rpI

[Real Business Rescue @RealBizRescue]

They carry serious implications for contractors and medium or large sized private sector firms, on whom hefty fines can be imposed by HMRC if they make an incorrect decision. #IR35 https://t.co/zFGAjcJSlF

[R3 Press Office @R3PressOffice]

The new #BreathingSpace scheme for people in #debt has been launched today - the Govt expects it to help 700,000 people in its first 12 months.

Read our statement here: https://t.co/EJefLhbvjo

And our guide to how the scheme works: https://t.co/MWAkVzRQ36