Picture of Martin Williamson, Insolvency Expert

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news and views from Martin Williamson

 

 

January 4th, 2018

Action this day – make this your New Year resolution

The quote that ended 2017 should become the watchword at the beginning of 2018 for accountants who have clients that are struggling to keep their businesses afloat. Indeed, my suggestion is that accountants should write this quote at the top of the page in their diary on their first day back at work. “Early intervention […]

December 11th, 2017

A Christmas Carol – how Dickens got it all wrong

I have always enjoyed the timeless morality play that is Charles Dickens’ A Christmas Carol. The characters are wonderfully drawn, the atmosphere gripping, the storyline endlessly compelling. As an insolvency practitioner I also appreciate the detail which the author sprinkles like snowflakes throughout this famous short story (it’s all about the detail, folks). When it comes to the […]

November 6th, 2017

The figures that show we may be heading for a tough time

The latest insolvency statistics for Quarter 3 (July to September) 2017 are out and I have not seen much reaction to them yet from local business and civic leaders. That may be because the headline figures seem innocuous enough. But I am not so sure. Having taken a careful and dispassionate look at the numbers […]

August 31st, 2017

Two little words that remove a roadblock

The insolvency world continues to change at a rapid pace. Accountants are still getting to grips with the biggest rewrite of insolvency law in 30 years, brought about by the Insolvency (England and Wales) Rules that came into force in April 2017. One of the most useful changes has been the introduction of “deemed consent” – […]

July 28th, 2017

Debt worries rise for UK businesses

Four times more businesses than in September 2016 say they would be unable to pay debts if interest rates rise even by a small amount, research has revealed. A survey by insolvency and trade body R3 say 79,000 UK businesses are worried that they could not cope with an interest rate rise, compared to 20,000 […]

June 30th, 2017

Financial education in schools just doesn’t add up

Many British adults can be confused by financial matters due to a lack of education on the subject at schools and colleges. Just one in 10 adults say they received useful advice on finance through the education system, according to a survey by trade body R3 and polling body ComRes. “PHSE education in schools is […]

May 15th, 2017

Upward trend in insolvencies

Corporate insolvencies are now running at more than 5% higher than 12 months ago (ref: The Insolvency Service). Following a period of calm in 2016, insolvencies are now showing an upwards trend from a post financial crisis peak. Martin Williamson, Managing Director at ipd, said factors including a rise in the national minimum wage, pension […]

April 20th, 2017

Don’t be a Zombie!

139,000 businesses in the UK are only paying the interest on their debt and not repaying the debt itself, according to new research by insolvency and restructuring trade body R3. The number of businesses in this position – equivalent to 8% of all UK businesses – has returned to levels more in line with previous […]

March 20th, 2017

UK businesses owe £1.8 billion in late corporation tax says new study

The total value of corporation tax payments in arrears has jumped 15 per cent in the past year, to £1.82 billion up from £1.59 billion, as businesses increasingly struggle to pay their tax bills. Research by online business supermarket, Funding Options, have warned that small businesses are at particular risk of having their assets seized because […]

November 8th, 2016

Help at hand for young families in financial distress

Young families are most vulnerable to insolvency, a new survey suggests. But there has been an overall drop in personal insolvencies year-on-year, according to statistics from Experian. The company reports that the number of people facing insolvency during the third quarter of this year has decreased by 14 percent compared to the same period last […]