PCR are looking for an experienced Insolvency Administrator to join their Uxbridge office. This is a good opportunity for a candidate who is looking to develop a fulfilling career in this industry.

As an Insolvency Administrator, you will be working with a vibrant and knowledgeable team, working on mainly corporate insolvencies and assisting other members of staff with their work within the department. 

Salary dependent on experience.

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We are looking for a Part-time Practice Accountant to join our small friendly team in our Uxbridge office.

The role would be ideal for a candidate who is part qualified or someone looking to keep their hand in or returning to work. The candidate would manage the day to day accounting and financial requirements of the business and must possess excellent organisation skills and be proficient with SAGE. You will also be familiar and confident in using Microsoft packages such as Word and Excel. 

Salary competitive, 15 hrs p.w.

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In February 2017, PCR reported on the significant rise in personal insolvencies, with a gargantuan 90,930 personal insolvencies being recorded in 2016. Not only were the results alarming, but they were also the highest recorded since 2010.

We cited several reasons as to why the figures were so high, most notably with individuals taking advantage of the cheap credit available to them and the low interest rates, seeing a plethora of households inadvertently over-stretch themselves. Furthermore, a report published by the Money Advice Service in 2016 highlighted young adults, single parents those renting their homes or part of a larger family as those most likely to be affected by severe debt.

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Providers of Self-invested Personal Pensions schemes (SIPPs) are facing an uncertain future following the decision of Berkeley Burke v Financial Ombudsman Service which has led to an increase in the number of targeted visits by the Financial Conduct Authority (FCA). The justification of such visits was to assess whether the business model actually complied with its requirements, with the FCA arguing that it had continually identified “serious and ongoing failings”.

The FCA’s findings reported that, in particular, relating to non-mainstream propositions in which the SIPP providers allowed the pensions to be invested into were typically unregulated, high risk and highly illiquid investments - such transfers or switches were unlikely to be suitable for the vast majority of retail customers. Examples of these propositions include overseas property developments, store pods and forestry. In addition, allegations have been made that advisers’ understanding on non-mainstream propositions were also typically lacking, mainly due to inadequate due diligence on the products and on the product provider.

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In the summer of last year, PCR discussed the difficult market conditions for many businesses who were facing an uncertain future, with the likelihood of an expected rise in insolvencies as a result. 

Several businesses were, in fact, continuing to face a ‘squeeze’ due to a number of factors, including the continued growth of online shopping, rising labour costs and business rates, and the drop in consumer spending in the midst of economic uncertainty. In particular, it was the retail and restaurant sectors which were mainly affected, as the high street continued to be a difficult place to trade for numerous retailers and food outlets alike. However, this has not been a surprise to those who have kept a close eye on the retail sector, with the warning signs already there.

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