You will no doubt have heard that changes to the way dividends are taxed are being introduced in April 2016 and will apply new “Dividend Rates” of income tax to distributions made to shareholders.

However, you might not be aware that in December the Government also launched a consultation aiming to bring in supporting legislation to prevent shareholders getting around the new rules by utilising current exemptions that treat distributions as capital when a company is wound up. Currently, in a solvent liquidation (“MVL”), any retained profits are treated as capital for distribution purposes and may qualify for Entrepreneur’s Relief at a rate of 10% if the circumstances fit the criteria to do so.

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Sam Talby considers the resurgence of of long and short term commercial fraud and some of the steps and checks that can protect your business.

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Amidst the demise of the steel industry, the struggles of SSI, Caparo and Tata have been dominating local headlines; just this week we have heard that Tata is planning to shed another 1050 jobs. The outlook perhaps seems somewhat bleak for industry in the North East. However, recent statistics are showing that the North East has other strengths, with four in particular showing promise:

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October 2015 has seen some significant changes to the UK Insolvency regime by way of changes to the Insolvency Act, Insolvency Rules and the professional guidance by which we operate.

Many of these changes are seen as good, some not so good and other remain entirely to be seen - how the legislators envisaged some of the provisions panning out is really not that clear, which means 2016 is probably going to be rather interesting. 

So, from a creditor’s perspective, what’s the big deal?

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PCR are pleased to announce the launch of a new regional office in Milton Keynes! Although we were already operational in the Beds, Bucks and Herts area, this new office will give us the capability to focus on Milton Keynes and Northamptonshire from our centrally located office on Midsummer Boulevard.

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