Many of us remember the revulsion that we felt in 2011 when watching the BBC’s Panorama undercover investigation into the private hospital in South Gloucestershire known as Winterbourne View.
Times have been pretty tough for most businesses over the last few years, and many have gone to the wall. Seeing lots of empty shops as you walk down the local High Street, or boarded-up factories on the industrial estate is a sad sight, each telling a story of a business that’s failed. What’s even sadder, is that many business insolvencies might have been prevented.
George Osborne’s Summer Budget was not great news for businesses. Certainly there was some good news – reduced corporation tax, increased income tax allowances, raising the higher rate of income tax threshold and the increase in the national insurance employment allowance are all to be welcomed.
Natural Paint Limited, a manufacturer of eco-friendly paint, has been placed into liquidation by its shareholders. Graham Down, of tri group, has been appointed as Liquidator to handle the winding-up.
No man in this country is under the smallest obligation, moral or other, so as to arrange his legal relations to his business or to his property as to enable the Inland Revenue to put the largest possible shovel into his stores. The Inland Revenue is not slow – and quite rightly – to take every advantage that is open to it under the taxing statutes for the purpose of depleting the taxpayer’s pocket.
Figures recently published by the Government’s Insolvency Service show a growing number of company directors being disqualified for misconduct in running their companies.
It’s often said that a company shouldn’t trade whilst it’s insolvent. Trading whilst insolvent, even knowingly, is not necessarily unlawful although it is, of course, far from desirable.
It’s getting towards the end of the month and there’s nothing left in the account. You still have some bills to pay and you don’t know how you’re going to meet them. Sound familiar? Then, as you’re watching TV, up pops an advert for a payday loan company. Hey presto, all you need to do is make a quick telephone call, or go online, and all your financial woes will be a thing of the past!