Call: 01234 834886
Call: 01234 834886
Bedford:
Suite G35, Bedford i-Lab
Priory Business Park, Stannard Way
Bedford
MK44 3RZ
Call: 01604 212150
Call:  01604 212150
Northampton:
9-10 Scirocco Close
Moulton Park
Northampton
NN3 6AP

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PBC Business Recovery and Insolvency Offices

Is Corporate Recovery Doomed?

There is a saying about giving with your right hand but then take back with your left.  Well, that appears to be the case where the Government are concerned. Firstly, the Corporate Insolvency & Governance Act 2020 became law and is intended to assist businesses recover post the COVID-19 pandemic.  While I am sceptical about […]

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The Preference Trap?

My most recent blog on the Chancellor’s support schemes  (available here) included comments on the Bounce Back Loan scheme.  One question I have received following that blog focussed on how using the funds from the loan to pay off debts personally guaranteed by the director would be treated (as the Bounce Back Loan scheme does […]

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Will the government support schemes make things worse?

Whilst we all might have our views on how Boris Johnson, Matt Hancock et al have handled the health impacts of the Covid-19 pandemic, one politician who has emerged with his reputation enhanced is the Chancellor of the Exchequer, Rishi Sunak, and that’s not just because he has been nicknamed “Dishy Rishi”.   Whilst there […]

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Seller beware? – The Corporate Insolvency and Governance Bill

As a service provider or supplier, what is your first reaction when you hear your customer is entering into an insolvency process?  Anger, frustration, can I recover items supplied or, how do we make good the financial hole that bad debt will create? It is an emotional event but, what if you were told your […]

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Recession or is it something else?

What is the outlook for the UK economy post lockdown?  That is a question I have been asked many times, while others tell me how busy my profession will be. The truth is, nobody can accurately predict what will happen.  Personally, I have heard views from, “It is going to be a tough time, but […]

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£1190 Donated to Cynthia Spencer Hospice despite cancelled Quiz Night

  March 2020 and we were preparing for the PBC Quiz night but alas Covid-19 and social distancing meant that we had to cancel the event which was to raise funds for Cynthia Spencer Hospice Charity We contacted all the teams that had paid to enter the quiz asking whether they would be happy for […]

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Am I Liable or Not?

Can a director be held personally liable for company debt? The knee-jerk response to the above is, “No, that is what limited liability means.”  Indeed, the only obvious exceptions would be where a director has given a personal guarantee or, when a director is the named contracting party, which does happen occasionally, especially where leasehold […]

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A Business Adviser? Come to our free seminar on Personal Liability

To be held at Kettering Park Hotel on May 13th. Looking at the hot topics that could affect you and your clients including Re-use of prohibitive name HMRC hot potatoes Dividends The Warning Signs Plus we are looking to cover topics arising from The Budget RSVP: lisaparker@pbcbusinessrecovery.co.uk   DUE TO THE COVID-19 CRISIS THE SEMINAR […]

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Legal Claims Against Directors following Liquidation – What you need to know. – Guest blog post from Steven Mather Solicitor

This is a guest blog post from Steven Mather Solicitor – The Right Lawyer for You and Your Business™   Firstly, thanks to Gary and Jamie and everyone at PBC for inviting me to guest blog on their website. I’ve worked with them a number of times and I’m impressed by how well they know […]

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Close companies: Loans to participators: Members Voluntary Liquidations (MVL)

Close companies: Loans to participators: Members Voluntary Liquidations (MVL) These are solvent liquidations. From the date of the liquidation the shareholders are entitled to receive the value of the net assets of the company (i.e the company owes them the relevant value). At the same time the shareholders owe the company the amount of their […]

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How the FCA are supporting consumers with credit card debt

https://www.bbc.co.uk/news/business-51358643

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Mediation – Listen to their story

  I want to tell you my story Hands up if you have been in an argument.  What usually happens?  They raise their voice so you raise yours and so on until it becomes a shouting match and the cause of the debate gets pushed aside while other issues come to the fore.  Sound familiar? […]

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PBC Festive Season Closing

The staff of PBC Business Insolvency & Recovery Ltd would like to thank you and your continued support in 2019 and would like to take this opportunity to wish you a very Merry Christmas and Happy New Year. Our offices will be closed at 12.00pm on Tuesday 24th December 2019 and re-open at 9.00am on […]

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A squeeze on tax avoidance

Someone once told me, “I enjoy paying tax because, if I am paying tax then I must be earning money”. In fairness, most people would agree with the above.  Unfortunately, there has been a long-running battle for HM Revenue & Customs in catching up with those who see it differently. The Government are planning to […]

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Golf Day Raises £2051 for Charity

At PBC we are delighted that our Golf Day held in September raised a fantastic £2051 for the Ronald McDonald House Charities. Together with other events we have been able to donate £3761 to such a great charity this year.

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Supporting Northamptonshire Health Charity

Excellent weather for Golf. Glad to have supported Northamptonshire Health Charity on their golf day at Northampton Golf Club.

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SME Northamptonshire Business Awards 2019

Excellent evening celebrating the success of Businesses across Northamptonshire. PBC were delighted to have sponsored the Best New Business Award Congratulations to the winners Breast Friends Special mention to the runner up Kompak and the other finalists AJS Express Parcels Limited Alliance Mortgages Ltd Build & Bake Ltd Datasense Consulting Ltd

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PBC Golf Day – in aid of Ronald McDonald Charity Houses

What a glorious day to hold a Golf Day. The sun was shining, Overstone Golf Club was in excellent condition and the event was supported by a great bunch of local Businesses and Professionals. PBC with the support of Overstone Golf Club hosted 12 teams of mixed ability golfers. Scoring was good with a number […]

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TAX AVOIDANCE

A squeeze on tax avoidance Someone once told me, “I enjoy paying tax because, if I am paying tax then I must be earning money”. In fairness, most people would agree with the above. Unfortunately, there has been a long-running battle for HM Revenue & Customs in catching up with those who see it differently. […]

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DIRECTORS DISQUALIFICATION – COMMON GROUNDS

The meaning of substantial I am sure most directors are proud the first time you order business cards (with your title as director). Expanding as you employ staff. But do you know the duties and responsibilities of being a director? Do you consider you are a responsible director? Hopefully, your answers are, “Yes” and “Yes, […]

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Alternative Dispute Resolution – The cost of disagreement

People Sitting around a table discussing

  How many readers can remember the Monty Python sketch where a client wants an argument?  The provider says that will cost £10.  The client pays the fee only for the provider to say that will cost £10 please.  Enraged, the client says he had just paid only for the provider to deny receipt and […]

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Hack it and Whack It

Despite the rain the Hack it and Whack it event went ahead. A mixture of 40 golfers and non-golfers lined up at Brampton Heath Golf Club to test their skills on the driving range and the putting green. Not sure whether we unearthed the next Tiger Woods or Charley Hull but a good time was […]

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Tax efficient or tax avoidance?

As a director you are probably advised to pay yourself a nominal salary with the balance of your remuneration package being paid by way of dividend.  This is perfectly sensible.  It reduces the tax burden and improves cash flow.  However, what happens if you draw dividends when there are insufficient reserves? There has been a […]

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HACK IT AND WHACK IT

HACK IT AND WHACK IT Calling all those who believe networking is good for business. This is a networking event for BOTH golfers and non-golfers. Date: Thursday 13 June Venue: Brampton Heath Golf Club, Sandy Lane, Church Brampton, Northampton, NN6 8AX Timings: Arrival from 12:30p.m. Buffet Lunch at 1:00p.m. In the afternoon we will split […]

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CHARITY QUIZ A GREAT SUCCESS

CHARITY QUIZ A GREAT SUCCESS Greens’ Restaurant was filled with the sound of brains whirring as thirteen teams did battle at PBC’s charity quiz in aid of Ronald McDonald House at Alder Hey. The winners were Cottons (below), with a score of 133 out of a possible 150, with Clifford Roberts taking second place only […]

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How secure is your company?

PBC Logo

How secure is your company? A few years ago I asked an audience, “How many of you are self-employed?”  I followed that by then asking, “How many of you set up in business and planned to fail?” The fact remains we do not set up a business with a view it will fail sometime in […]

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PBC Moves into Bedford

Management Team

  Insolvency practice moves into Bedford. PBC Business Recovery & Insolvency have announced opening their new office in Priory Business Park, Bedford with effect from 1 March 2019. Highly regarded, PBC provide professional advice and services across both personal and corporate insolvency, whether that is for the client directly or where the client has an […]

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PBC Charity Quiz 2019

PBC Logo

We are holding our 2nd Charity Quiz in aid of Ronald McDonald House Charities on Thursday 28th March 2019. Come and have some fun as well as raising  money for a great charity. Details and acceptance form. PBC Charity Quiz 2019

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Brexit vs Cash

How many readers like change?  Do you remember the constant barrage of doom and gloom surrounding the Millennium Bug or what about GDPR?  Let us face it, in general we all fear changes that may interfere with our comfort zone. The “B” word has been with us for 2 years and, personally, I have adopted […]

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What has 2018 been like?

PBC Logo

  When I get that call from Business Times informing me it is time to draft your editorial reviewing the past year a mild panic strikes like a bolt out of the blue! Is it really that time already?  What has happened over the past year and what can I write about? The year started […]

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Phone Issues – ISSUE SOLVED

Please note we are currently experiencing issues with our office telephones. In the meantime, please email the office (our email addresses are on our Meet the Team Page) and we will reply as soon as possible. We apologise for any inconvenience. UPDATE – THE ISSUE IS NOW SORTED.  

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HMRC to be a preferential creditor once again

  The 2018 Budget has seen the announcement that HMRC will regain their preferential creditor status, a position which they lost in 2002 under the Enterprise Act. Since then they have ranked alongside unsecured creditors (such as suppliers, landlords etc). Chancellor Philip Hammond, speaking in Parliament said, “We will make HMRC a preferred creditor in […]

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Abseil Total Exceeds Target

    Back in August 2018, Natasha Pink and Jamie Cochrane took part in an abseil event which was organised by the Ronald McDonald charity to help raise much needed funds for families of sick children. There are 14 Ronald McDonald Houses as close as is possible to specialist children’s hospitals across the country, from […]

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Liquidators’ appointment valid despite breach of deemed consent procedure

The Insolvency (England & Wales) Rules 2016 came into effect in April 2017 and were aimed at enhancing creditor participation in the insolvency process while also consolidating the rules. One of the new provisions enables an insolvency practitioner (“IP”) to serve creditors with a notice of deemed consent; meaning if the IP does not receive […]

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A personal problem?

  Invariably, when we talk about insolvency people start thinking of the likes of BHS, Toys “R” Us and other large corporate concerns. However, what about a problem that is closer to home? The Insolvency Service recently released the statistics for Q2 of 2018. These show corporate insolvency numbers were down on the previous quarter […]

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Restoration of Company Results in Dividend to Creditors

PBC are pleased to report that a dividend of 66.40 pence in the pound was paid to unsecured creditors in a liquidation that, at first, appeared to have no distributable assets. The company was placed into creditors’ voluntary liquidation in June 2012 and following closure of the liquidation the company was dissolved. PBC were subsequently […]

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A Stark Lesson

How many readers find themselves looking at how much to pay in order to service personal debt every month after you have just been paid? In some cases that level reaches a point where it simply cannot be managed where you then start to notice those road-side signs that promise to write off 90% of […]

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PBC CONFIRM DIVIDEND PAID FROM AN IVA

PBC are pleased to announce a first and final dividend to creditors from an individual voluntary arrangement (IVA). The debtor’s proposals for an IVA were approved in November 2017 and comprised a lump sum following the sale of an investment property. The arrangement included the removal of a second charge against the dwelling property, with […]

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Jamie and Natasha abseil for Ronald McDonald

Jamie & Tash abseiling

  Here at PBC, we are determined to raise as much money as possible for this excellent cause.  So far we have had a charity craft fair, Kym and Jamie walked 80 miles from London Euston to Northampton and the quiz night.  We also have an extremely popular tuck shop in the office!  To date, […]

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Spring is here!

    The Spring 2018 edition of PBC’s quarterly magazine, The Leaf, is available to read here. Topics include: The New Rules 12 Months On Focus on Administration Early Advice aids Survival of Business And Many More

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Are Members’ Voluntary Liquidations (MVLs) under attack again?

A couple of years ago, the Finance Act 2016 introduced a new anti-avoidance rule which targeted MVLs to counter ‘phoenixism’ – starting a new business soon after winding up the previous one. This was to stop what was seen as an abuse of Entrepreneurs’ Relief. More recently we have seen HMRC now demand statutory interest […]

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The New Rules – 12 months on

The 6th April will mark the first anniversary of The Insolvency (England & Wales) Rules 2016, (commonly referred to as the “New Rules”). Doesn’t time fly?  So, we thought the anniversary was an opportunity to reflect and comment on the major changes introduced by the New Rules. The right to opt out of receiving future […]

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Early advice aids survival of business

At PBC, we have written numerous blogs and articles about how taking early advice about a worsening financial situation can lead to more options being available and the earlier the advice is taken the more likely a recovery process can be instigated. This message was true in the recent administration of Noble Express Ltd. The […]

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“Irresponsible” directors face further scrutiny

Directors of insolvent companies, who have acted irresponsibly, will face further scrutiny of their actions in new plans announced by the government.  The plans are detailed in this BBC News article.

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CHARITY QUIZ A GREAT SUCCESS

Greens Restaurant was filled with the sound of brains whirring as fourteen teams did battle at PBC’s charity quiz in aid of Ronald McDonald House at Alder Hey.  It was a night which saw the teams discover 12 is the only number which scores itself in Scrabble and 23 is the next number in the […]

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An alternative credit check?

Are you an SME who is contracted to supply (or are considering supplying) a large company? If so, how confident are you payment of your invoices will be paid in a timely manner, if at all? In recent times we have witnessed some large companies failing, including Connaught Construction, BHS and recently, Carillion.  With each […]

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Time to pay thanks to Carillion?

Following the demise of Carillion, HM Revenue & Customs have announced their Business Payments Support Services are open to approach by any company or business that has suffered a short-term cash flow problem as a result of the large scale failure. The Support Service will consider: Instalment arrangements of tax due that cannot be paid […]

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PBC announce Charity Quiz

PBC Logo

  PBC are pleased to announce a charity quiz to raise money for Ronald McDonald Charity Houses. The quiz will be held on Wednesday 21 March 2018 at 6pm at Greens Restaurant, Collingtree Park Golf Club. For further details about the evening, please find the invite and booking form here. For further details about why […]

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Second Edition of The Leaf Released

PBC are pleased to announce the release of the second edition of The Leaf Magazine, which can be read here. Topics in this edition include: Beware the Unregulated Insolvency Advisor Focus on Mediation Statutory Interest on Corporation tax in Solvent Liquidations And Many More

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A Round Up of Recent Insolvency Statistics and Perhaps More Trouble Ahead!

Last week The Insolvency Service released the insolvency statistics for the fourth quarter of 2017. Whenever these are published, the newspapers will always look for the story without going into the details. So for example, the press reported that personal insolvencies in 2017 increased by 9% as compared to 2016, Of course that is correct, […]

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Gary Pettit and Gavin Bates are licensed to act in the United Kingdom as an Insolvency Practitioner by the Institute of Chartered Accountants in England and Wales.


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