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An insolvency litigation and financing solution developed by market leading law firm Provenio Litigation LLP.

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4) Business Rates

The Chancellor confirmed that the 75% discount to business rates which is due to expire in April 2025 will be replaced by a discount of 40% - which applies up to a maximum £110,000 per business.

This will see business rate bills for companies almost double.

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𝐓𝐡𝐞 𝐁𝐮𝐝𝐠𝐞𝐭 - 𝐤𝐞𝐲 𝐢𝐧𝐬𝐨𝐥𝐯𝐞𝐧𝐜𝐲 𝐚𝐧𝐝 𝐫𝐞𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐭𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬.

The Optimise team takes a look at the key insolvency related takeaways from yesterday’s Budget:

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3) Capital Gains Tax and Business Asset Disposal Relief

From April 2025, CGT on solvent company liquidations will rise from 10% to 18% (lower rate) and 18% to 24% (higher rate).

BADR will also increase from 10% to 14%, then 18% in 2026, with a lifetime cap of £1M.

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You can find the full article and breakdown of the figures here:

https://t.co/x3dDxUiO7w

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𝗝𝘂𝗻𝗲 𝟮𝟬𝟮𝟰 𝗜𝗻𝘀𝗼𝗹𝘃𝗲𝗻𝗰𝘆 𝗥𝗲𝗽𝗼𝗿𝘁

The latest data from the Insolvency Service for businesses in England and Wales has been revealed.

Some key highlights....

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▪ June 2024 saw the second-highest number of company insolvencies since 2009.

▪ There has been a notable 16% increase from May 2024.

▪ A total of 𝟮,𝟯𝟲𝟭 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗶𝗻𝘀𝗼𝗹𝘃𝗲𝗻𝗰𝗶𝗲𝘀 were recorded for June.

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The Official Receiver has announced plans to return £280 million to creditors of the Thomas Cook group of companies, the high-street travel chain which went into liquidation in 2019 after last-minute efforts to secure a rescue deal failed.

Read more here

https://t.co/8V95L0QujB

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@OptimiseClaims has extensive experience in supporting high value insolvency claims and a robust approach to assessing the recovery risk to avoid the dreaded “pyrrhic victory”.

To learn more visit:
https://t.co/jh3AB8XHnJ

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𝗔 𝗹𝗮𝗻𝗱𝗺𝗮𝗿𝗸 𝗷𝘂𝗱𝗴𝗺𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗕𝗛𝗦 𝗚𝗿𝗼𝘂𝗽 𝗖𝗮𝘀𝗲, 𝗕𝗨𝗧, 𝘄𝗶𝗹𝗹 𝘁𝗵𝗲 𝗺𝗶𝘀𝗳𝗲𝗮𝘀𝗮𝗻𝗰𝗲 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗰𝗹𝗮𝗶𝗺 𝘄𝗶𝘁𝗵𝘀𝘁𝗮𝗻𝗱 𝗮𝗻𝘆 𝗮𝗽𝗽𝗲𝗮𝗹, 𝗮𝗻𝗱 𝗰𝗮𝗻 𝘁𝗵𝗲 𝗱𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗺𝗲𝗲𝘁 𝘁𝗵𝗲 𝗹𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀? A Thread.

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When considering the credibility and economics of claims against directors, the strength of the legal claim and recoverability risk both need careful consideration.

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We offer an upfront payment to purchase claims, cover all legal expenses, and provide a fair, pre-agreed percentage of the final recovery.

To find out more contact our team:

📧[email protected]

🌐 https://t.co/e5mnGBRsAH

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Litigation is costly, presenting Insolvency Professionals with difficult decisions on how to proceed with claims.

At Optimise Insolvency Claims, we aim to ease that burden...