The retail sector has long been the beating heart of the UK economy, but in recent years, it has faced unprecedented challenges. The seismic shifts in consumer behaviour have left many traditional retailers struggling to adapt to the new normal. High streets once bustling with activity now bear the scars of empty shops, a stark [...]
In certain industries, some small businesses can be particularly susceptible to the impact of capital deprivation. This term refers to challenges enterprises face when they lack sufficient financial resources or access to funding. In a market where liquidity is important, the inability to secure capital can halt growth, hinder operational efficiency, and, in severe cases, [...]
In an increasingly interconnected global economy, the concept of 'Cross-Border Insolvency' is becoming more important than ever, especially within the UK's legal and financial sectors. This blog post explores the meeting of cross-border insolvency and technology, focusing on the emerging trends and challenges of professionals in this field. The Evolving Landscape of Cross-Border Insolvency Cross-border [...]
In December 2022, the UK government announced a package of reforms to financial services regulations in the UK. The Financial Services reforms have been made, pending legislation that will come into effect later in 2023. So far, people have just been guaranteed that more consultation on specific areas is to follow. The announcement came after [...]
As businesses start to emerge from the coronavirus pandemic, the reality of government backed loans, furlough schemes and lost revenue is starting to bite. Couple that with rising energy costs, interest rates going up and inflation predicted to hit 8%, the number of companies struggling with debt is growing. Recent statistics report that in January [...]
Larger private companies in the UK sometimes reward their employees by giving them equity in the company, i.e. shares. It can often be used as an employee perk or part of a remuneration package, particularly when an employee has completed so many years in the business or is promoted to a senior position. Employers opt [...]
The probate process in the UK can be time-consuming, even if the deceased’s estate is a simple affair and they left a will. The length of time probate takes will often impact the period between probate being granted and when the beneficiaries receive their inheritance money after probate. Before beneficiaries receive their inheritance money after [...]
The voluntary winding up of a company that is solvent can be accomplished under the Insolvency and Bankruptcy Code, 2016. Under the Insolvency Act 1986 is the Insolvency Rules 2016 that apply in England and Wales which sets out the procedure for the voluntary winding up of a company. The Insolvency and Bankruptcy Code (IBC) [...]
Every three minutes in the UK, someone is diagnosed with dementia. However, family members are unable to access their finances or do anything about their home and care unless the court has granted them authority through a Power of Attorney (PoA) or a Lasting Power of Attorney (LPA). As people get older, they may not [...]
When you die, any possessions, cash, property or other assets you owned are known as your ‘estate’. In most cases, your estate will need to be administered to comply with legal requirements in terms of carrying out your wishes in your will, making sure the beneficiaries receive what has been left to them, as well [...]
