DMC Recovery is based in Stockport, where we have a local office and a team of staff working for us, so why do we also have a team in India working with us? What is Outsourcing? There are different types of outsourcing, for instance, domestic or international. You can also set up with your outsourced…
US Global Tariffs Although many American citizens may be questioning “ Liberation Day” there is no doubt that The US administration’s announcement of global tariffs have sent markets and world trade into uncertain times. How will tariffs impact UK businesses? Are they an opportunity or a risk? What are the tariffs and how do they…
In a concerning turn of events, the number of UK companies facing insolvency has now surpassed levels seen during the 2008 financial crisis. Recent figures highlight that over 25,000 businesses entered insolvency in the last year alone, representing a sharp increase driven by economic factors such as high interest rates, inflation, and ongoing market volatility….
When a business faces insolvency, those overseeing the company’s liquidation or administration hold the power to scrutinise the conduct of its directors. Misfeasance, a term denoting wrongdoing by a company officer, can lead to significant penalties if proven. Defining Misfeasance in Insolvency Under the Insolvency Act 1986, misfeasance is identified when an officer of a…
The Insolvency Service’s Redundancy Payments Service (RPS) has been a crucial lifeline for employees impacted by company failures. In the fiscal year 2023-2024, the RPS processed 85,592 claims, disbursing £494 million from National Insurance contributions to individuals facing financial hardship due to insolvency. The RPS The RPS ensures rapid processing of claims, averaging 10 days,…
We at DMC Recovery are immensely proud to have been involved in a significant legal victory that reinforces the integrity of the insolvency process in the UK. The Case On 5 August 2024, the Court of Appeal handed down a landmark judgment in the case of Re JDK Construction Limited (in liquidation), Keegan v Bland…
The announcement of potential tax rises from the new UK Labour Government, less than a month after taking office, has stirred a mix of concerns and expectations among financial professionals. While not entirely surprising, this development is set to impact various sectors significantly. A New Chancellor’s Dilemma Chancellor Rachel Reeves addressed the House of Commons,…
Save Consultants, a Manchester-based company that presented itself as an alternative solution to formal insolvency proceedings, was ordered to be wound up in the public interest on 2 July. This decision followed a thorough investigation by the Insolvency Service, which revealed that the firm was operating as an unlicensed insolvency practitioner. The Official Receiver has…
As widely predicted, the Labour Party has won the UK General Election after a notably short campaign period. The victory, while exhilarating for Labour supporters, raises several questions about the feasibility of the ambitious promises made during the campaign. Will the new government be able to deliver on its commitments, or were these pledges merely…
As insolvency practitioners, we see a lot of passion and drive from people starting businesses. It’s an exciting time, but it’s crucial to be aware of the challenges alongside the potential rewards. So, before you take the leap, here are some key considerations: Getting the Right Help While passion is essential, professional guidance can be…
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41, Greek Street
Stockport
Manchester
SK3 8AX
Andrew Bland and Janet Mayo are both authorised to act in the UK by the Institute of Chartered Accountants in England and Wales under licence number 9472 and 9595.
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