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Budget 2012 – who are the winners and losers and will it make a difference?
Whether this was a helpful budget for business or individuals depends on your point of view, your age and personal circumstances but some of the winners and losers are highlighted here.
Mike Field published this on Friday, 23rd March 2012 in: News 123 views Add your comment
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Sky’s the limit after Portland Senior Manager’s exam success
Portland Senior Manager Suzy Franklin is celebrating passing the highest obtainable qualifications in the insolvency profession, JIEB (Joint Insolvency Examinations Board). The much sought after qualification involved 30 taught days in London, including revision courses and mock exams.
Mike Fortune published this on Wednesday, 21st March 2012 in: News 71 views Add your comment
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‘Views from the Outlook’ by Robert May - HM Revenue & Customs and Bonds
HMRC have long had the ability to ask for bonds as security and in these uncertain economic times, these could become more common.
Robert May published this on Wednesday, 8th February 2012 in: News, Opinions 169 views Add your comment
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‘Views from the Outlook’ by Robert May - Credit Crunch 2 (A LIBOR Story)
As I look out of the window at the start of a new year, I can’t help but reflect on where the economy is headed. Quite often, following a successful horror movie, a sequel will be released. Following the most recent 3 month LIBOR rate (the rate at which banks’ lend to each other), it seems that the economy could be heading for Credit Crunch 2, The Sequel as well.
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To liquidate or not to liquidate, that is the question…..
There has been a few developments over the last few months in relation to HM Revenue & Customs’ extra statutory concession (ESC) C16 dealing with distributions to shareholders outside of a formal winding-up. Previously a concession had been given by HMRC for distributions to shareholders outside of a members’ voluntary liquidation limited to £4k although the scope of HMRC’s discretion to make concessions that depart from statutory provisions had recently been challenged.
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Goodwill of long running trailer company lives on
Portland Business Recovery has negotiated the sale of the goodwill and assets of a family run company formed in 1969.
Nicola Layland published this on Tuesday, 3rd January 2012 in: News 425 views There has been 1 comment
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‘Views from the Outlook’ by Robert May - Merry Christmas…..but maybe not such a good New Year
As I look towards Christmas, I think of all that that means. Christmas shopping, carol singing, visiting the family, eating, drinking and being jolly over the Christmas break, but I also cannot help but wonder how it will affect businesses and in particular, traders and retailers.
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A hypnotic night of fun, laughter and entertainment
South-coast based insolvency practice, Portland Business Recovery heralds its second consecutive annual dinner as the best yet, with great feedback from all attendees.
Carl Faulds published this on Friday, 2nd December 2011 in: News, Events 207 views Add your comment
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Portland – helping the next generation understand money
Portland Senior Manager, Nicola Layland, recently gave a talk to year 11 students at Brune Park Community College in Gosport as a follow on from a FSA backed scheme designed to improve the financial capability of young people.
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Portland Senior Manager helps raise £3,000 for Leukaemia Busters
Senior Manager at Portland Business Recovery, Nicola Layland is flying high after another successful year of co-hosting the R3 Southern Regions Women’s Group annual flagship dinner.
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‘Views from the Outlook’ by Robert May - HM Revenue & Customs and payment plan problems
In these times of uncertainty and financial pressure, many businesses find cash-flow tight and the ability to pay their tax bills in one go can be strained. On a number of occasions we at Portland have been asked what we think the attitude of HM Revenue & Customs (‘the Revenue’) is to payment plans.
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Portland assist in the sale of W Churches & Son Limited and save 60 jobs
Portland Business Recovery has negotiated the sale of Winchester based heating and electrical contractors firm W Churches, after they were forced to call in the administrators. The business, which has operated for 106 years, began struggling financially due to a number of bad debts and unprofitable contracts.
James Tickell published this on Thursday, 22nd September 2011 in: News 422 views Add your comment
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Carl Faulds’ insolvency article for 200,000 members of FSB
I was recently asked to write an article for a magazine produced for the 200,000 members of The Federation of Small Businesses (FSB), and a copy of the article is reproduced below:
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Portland successfully negotiate sale of Comrades and save a piece of history
There is a huge sigh of relief within the local community of Eastleigh as James Tickell and Carl Faulds of Portland successfully negotiate the sale of The Comrades Club, and save a historic building from demolition.
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Just one Cornetto…..
Administrators, James Tickell and Carl Faulds, have been successful in selling the well known ice cream business “Loseley Dairy Ice Cream” which was based in Cymbran, Wales.
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Portland Business Recovery to remain Independent
Portland Business Recovery, the Hampshire and Dorset Business Recovery and Insolvency Practice has today announced that it is to remain independent.
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Portland survey results are in, and they are overwhelmingly encouraging…
We recently carried out some market research which included asking local professionals to tell us what they thought about Portland.
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The negative value of credit searches
Absolutely Bizarre! As Portland, we have just applied to open a credit account for a £20 monthly recurring charge and been told we do not pass the credit check and therefore cannot open the account! This is despite the fact the company has been operating profitably for 12 years, has four professionally qualified directors, has never had any bank borrowings, holds cash at bank in every year’s accounts, and has significant reserves on the balance sheet and always pays its debts in full and on time.
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IPA annual conference: 50 years on
The Insolvency Practitioners’ Association (IPA) has unveiled 14 April as the date for its annual conference – a day marking the professional body’s 50th anniversary.
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Portland presidential dinner hailed a success
South-coast based insolvency practice, Portland Business Recovery, are reflecting on the success of their latest event, where they wined and dined over 130 local accountants, solicitors, bankers and business contacts.
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£6.8bn Time To Pay arrangements granted
Over 371,200 Time to Pay arrangements have been granted to struggling businesses since November 2008 – worth £6.8bn – but official figures out today show a rapid drop in the number of schemes approved in the last few months.
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IPA to be closer to members in roadshow
The Insolvency Practitioners Association is to hold several roadshows around the country to engage with members over possible changes in the profession.
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IPA licensed insolvency practitioners reaches 500
The Insolvency Practitioners Association has announced that its licensed insolvency practitoner numbers has passed the 500 mark.
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Portland Celebratory Dinner
To celebrate the appointment of Carl Faulds as President of the Insolvency Practitioners Association, Portland are holding a lavish evening of dinner and entertainment at the Concorde Club in Eastleigh, Hampshire on Monday 22nd November 2010.
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Treasury reveals £7bn clampdown on tax dodgers
Government to be "ruthless with wealthy and businesses". Plans to raise an extra £7bn a year by clamping down on tax avoidance and tax evasion have been announced by Treasury secretary Danny Alexander.
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HMRC stance on Time to Pay scheme may force UK economy into a double-dip recession
The announcement in March of this year that the HMRC Time to Pay scheme (TTP) – a scheme launched to help ailing businesses delay their tax payments – was to be extended for another five years was met with a huge sigh of relief by the business community.
