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2022 was not a good year for homeowners. Back in February last year, the Bank of England’s decision to raise interest rates by 0.25 percentage points to 0.5% had heads turning, seen as a sign that the Bank was concerned about rising inflation. The BoE’s Monetary...
You could say that interest rates are on the up and up - not that that’s a good thing for most consumers. Interest rates are certainly a hot topic in the news at the moment, having rapidly risen from record lows to levels not seen since the financial crash of 2008 in...
Will we, won’t we? The question of whether the UK economy will cross the official threshold into recession this year has become a bit like a badly-written soap saga. Quibbling over the definitions of recession aside, though, what we all know is that things aren’t easy...
January 1st hasn’t always been when we mark the start of the New Year. Prior to 1752 when Great Britain adopted the Gregorian calendar, New Year was celebrated in the UK on March 25th. But the old ways persist in the world of business. The start of the new tax year,...
The definition of insolvency is when a company can no longer pay its bills because its income falls short of its liabilities. Obviously, this is not a great situation for any business to be in. If left unremedied it will eventually lead to a complete collapse of the...
Liquidation is a term usually associated with the bad side of business. It’s what happens when things go irretrievably wrong, the end game of insolvency if recovery isn’t possible. It’s also often a fate forced onto businesses by outside parties and the courts when...
If you find yourself struggling with debt, it’s not unusual to despair of ever finding a way out. The problem is, once you reach a point where your income doesn’t cover what you owe in debt repayments, things just spiral out of control. One missed payment just...
Insolvency. Administration. Liquidation. Words that send a shiver down the spine of many a company director. But while insolvency and administration are surefire signs that a business has hit the rocks financially - the latter to the extent that the company has been...
There’s no doubt that bankruptcy carries a certain amount of social stigma with it. To many people, it suggests you can’t manage your finances properly, or perhaps have been negligent with your money. Which is why the idea that bankruptcy is an option, not something...
After weeks of rumour and anticipation, the government has finally announced its energy bill support package for businesses and other non-domestic customers. With forecasts that electricity and gas prices for pubs, shops, offices, schools, charitable organisations,...