24 April 2019: HMRC is claiming the direct recovery of debt powers (granted in March 2016) to recover money owed directly from individuals’ bank and building society accounts have raised £178m of tax revenue between April 2016 and December 2018. It is reported that HMRC only took action by removing money directly from a...

17 April 2019:  The BRI Coventry office recently welcomed participants to their bi-annual pool tournament (held every Spring and Autumn) to do battle and establish which local professional was best with a cue in their hand. 32 players took their chances and the person with the most wins in the group stages progressed to the quarter...

10 April 2019:  The insolvency Service has reported on the 10^th anniversary of DRO. The Insolvency Service state that £2.3 billion worth of debt has been written off in DRO with 254,000 individuals successfully entering this procedure. The average level of debt per DRO is £9,400. A DRO is an insolvency procedure, often described as a...

5 April 2019: At BRI Business Recovery and Insolvency, we pride ourselves in providing the right advice first time, every time even though the advice may not be what the recipient wants to receive. BRI’s Northampton Office are dealing with an insolvent liquidation whereby, prior to our formal engagement, we identified potential transactions to...

1 April 2019:  We have recently seen an increase in enquiries from businesses that are financially struggling due to the ill health of the directors and senior staff members. Due to health reasons these members have not been able to give the business the time and attention it needs. Recently, a director came to us stating...

22 March 2019:  It is with great delight that we announce the success of Dan Smith in passing the Joint Insolvency Examination Board exams.  The two exams, one on personal insolvency and the other corporate insolvency, are sat once a year and test the boundaries of knowledge on all aspects of insolvency. The handful of complex...

19 March 2019: Our Spalding office dealt with a recent enquiry involving a company director who had incurred the wrath of gaming fans following an unsuccessful event, held for players of virtual games to experience something more akin to ‘the real thing’. The non-attendance of several staff members led to long queues for eager fans and...

14 March 2019:  The above was the tie break question at BRI Business Recovery and Insolvency’s annual quiz held on 7 March 2019. With 37 teams attending, three teams scored the same number of points and the above question was asked to establish second and third place with HSBC beating Hewitsons Solicitors to second place and Hawsons finishing...

8 March 2019:  It has been reported that there were 93,534 CCJ’s against companies in England and Wales in 2018, a 27% increase from 2017. The recording of a CCJ is, quite often, an early indication that all is not well on behalf of the recipient from a financial aspect. A CCJ will also have...

5 March 2019: The Hitchin office has recently dealt with a two partner unincorporated partnership that is experiencing financial difficulty. The unincorporated partnership has assets which would only be sufficient to cover some of its liabilities. Therefore, as the partnership does not provide a limited liability to its members, the individual partners were left...

20 February 2019: The bankruptcy of the founder of the Layezy Racing Owners Club, Mike Stanley, has hit the headlines this week and has highlighted the risks involved with one particular form of “investment” that often goes unreported – betting syndicates. Mr Stanley was declared bankrupt upon his own petition on 11 February 2019 and whilst...

15 February 2019: It is not uncommon for us to come across people who say they want advice on the financial position on their company when, in fact, they have already formed a view on their preferred solution. More often than not these solutions involve a process which would result in a fee income for...