In the April budget the Chancellor announced that from 6 April 2020 it proposes that HMRC will once again benefit from a Crown preference. This means that in an insolvency, HMRC would rank ahead of floating charge holders and unsecured creditors. The taxes collected by the insolvent company from customers and […]
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Walsh Taylor present special award at Yorkshire Young Achiever Awards
Walsh Taylor were once again honoured to sponsor the Special Award at the annual Yorkshire Young Achievers Foundation award ceremony. Kate Ellis presented Hammer thrower Jessica Mayho, of Cononley, with the award. The athlete who has been an inspiration to so many young people is a previous grant recipient receiving […]
New research reveals worrying cyber-attack figures
According to new research by Hiscox, a business insurance provider, UK companies are on average being targeted with 65,000 attempted cyber-attacks every single day. These worrying figures were uncovered after a study monitored the number of attempted attacks on three so-called ‘honeypot’ computer systems which are representative of those used […]
New government measures aim to end issue of late payments
In this old article, Walsh Taylor reviewed some research that found that late payments were having an extremely detrimental impact on the UK construction sector. After witnessing a 30% year-on-year rise in the number of firms that reported they are either close to liquidation or bankruptcy or in danger of […]
UK businesses forecasting a 2019 profit decline
It was revealed last month that 35% of UK businesses are forecasting a profit drop in 2019. These findings were uncovered by the Chartered Institute of Management Accountants (CIMA), who recently conducted the survey with 1,496 of the nation’s finance professionals. The answers from the respondents, which included both Finance Directors […]
North East businesses still possessing insolvency risk
As discussed recently in a previous Walsh Taylor article, business confidence in the North East has seen a decline in 2018 with factors such as skills shortage and the local economy contributing to this. New data has revealed that despite the number of active companies in the region increasing over […]
Government to crack down on phoenix companies
Phoenix companies get their name from the mythical bird that rises from the ashes; it is a business that restarts after all or part of the assets of a business have been brought out of an insolvency process such as a liquidation or administration. The role of the Insolvency Service […]
Over 40% of Yorkshire shops at risk
The Yorkshire Post reports that stores in Yorkshire are more at risk than stores in other parts of the UK with home furnishing stores being at particular risk. The demise of physical stores continues with little hope for a change in their fortunes. Read more….
R3 offer not-for-profit finance advice
The North East Chair of R3, the insolvency and restructuring trade body, has recently said that the region’s charities should demand more access to financial details to help minimise the risk of being left ‘with an unexpected hole in their finances’. Andrew Haslam points to the theory that many not-for-profit […]
Managing your business’s cashflow
As outlined in one of Walsh Taylor’s articles in June, managing cashflow is crucial to business success, particularly with start-up companies, where finances are typically tight. Though a lot of the issues surrounding cashflow tend to stem from a lack of effective planning, problems can arise that are beyond the […]
