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

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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PBC ANNOUNCE DIVIDEND TO CREDITORS IN LIQUIDATION

PBC are pleased to declare a dividend of 26.82 pence in the pound to the unsecured creditors of Silver Sovereign Limited. The company’s major asset was an adverse directors’ loan of approximately £57,000. This has been recovered in full which has allowed a payment to creditors to be made. Joint liquidator, Gavin Bates, said, “Whilst […]

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PRESS RELEASE – NOBLE EXPRESS LIMITED – IN ADMINISTRATION

Noble Express Limited, the Northampton based supplier of catering equipment, cleaning chemicals and other non-food essentials to the hospitality industry, has been placed into administration. The company has experienced difficult trading conditions over the past two years, which affected cash flow and led to the appointment of administrators PBC Business Recovery and Insolvency last week. […]

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Beware the Unregulated Insolvency Advisor!

Last year R3, The Association of Business Recovery Professionals, launched a campaign to warn about the risk of using unlicensed insolvency advisors and produced a very helpful guide which can be found here. The problem of unregulated advisors is not a new one but something that has grown over the last few years. The guide highlights some […]

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The peril of working with a big company

How many times have you heard the story of a SME securing that “Life changing” contract with a big company? While many can look back and say that really was a life changer, too many fall into an ever-decreasing financial circle. All is going well until the SME gets told the previously agreed unit price […]

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Statutory Interest on Corporation Tax in Solvent Liquidations

This blog is for accountants, tax advisors and directors who are considering a solvent liquidation, commonly referred to as a Members’ Voluntary Liquidation or MVL. During the course of 2017 we have been informed of what appears to be a change of policy by HMRC in respect of statutory interest on Corporation Tax. HMRC now […]

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Restoration of Company Leads to Major Pay Out to Creditors

PBC are pleased to report that having already paid preferential creditors in full a dividend of 44.58 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 2010 and following closure of the liquidation the […]

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Insolvency back in the headlines

News broke early this morning of the liquidation of Carillion, the second largest construction company in the UK with 20,000 UK based employees and responsible for providing public services from sectors such as prisons, hospitals, transport and schools. For clarity, the companies subject to winding up are: Carillion Plc, company number 03782379 Carillion Construction Ltd, […]

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A fool with a pen in hand!

The heading pretty much sums up my view of a director who grants a personal guarantee for company debts. I am possibly being a little harsh as giving a personal guarantee can sometimes be a non-negotiable term of contract or borrowing. In the past I have seen directors who have guaranteed practically every supplier, making […]

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Christmas Opening Hours

The offices will be closed from 12 noon on Friday 22 December 2017 and will re-open at 9 a.m. on Tuesday 2 January 2018. PBC would like to wish everyone a Merry Christmas and a Happy New Year  

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2017 – A Year of Change

Where has this year gone? It seems to be that every year flies by; why is that?  Age?  Maybe.  But then you think about it.  We never have a break between seasons these days.  With Christmas rapidly approaching advertisers are pushing us to book 2018 holidays and I will not be surprised if shops are […]

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Charity Presentation

On 9th November Kym Carvell and Jamie Cochrane of PBC Business Recovery and Insolvency travelled up to Ronald McDonald House at Alder Hey in Liverpool to present Denise Byrne from the charity with a cheque for £3,303.48.  The money was raised on their sponsored walk earlier in the year from London to Northampton along with […]

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It’s a Girl!

Everyone at PBC would like to offer congratulations to Jenny and her husband Matt on the arrival of their daughter Maddison earlier this week. We are all looking forward to our first meeting with Maddison!

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What is insolvency and does it apply to me or my business?

Insolvency is a very simple situation that can need a very difficult and sometimes complex resolution. If you find yourself in a situation where you are potentially insolvent you will need to take a long, clear look at things and decide what is the best option. In this video, Kym Carvell looks at what insolvency […]

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Leopards do need to change their spots

It is a common phrase but if a leopard does not change its spots then it remains a leopard. Probably the most recent example of that has been British Home Stores who did not keep up with shopping trends. Now another big name has fell into difficulty with Toys R Us in the United States […]

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PBC launch new magazine

PBC are pleased to announce the launch of a new magazine, The Leaf. The first edition was issued earlier this week, but can also be read here.  If you wish to be added to the mailing list for future editions, please contact us.  

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Solvent Liquidation – What is it and who can use it?

We are often asked ‘what is solvent liquidation’ and ‘is it suitable for me’? In this video, Gavin Bates, one of our licensed insolvency practitioners explains the meaning of solvent liquidation and gives some clear examples of when it can be used, what it is used for and what you can expect should you decide […]

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When are creditors paid?

When a company or person is going through a financially difficult time common questions which occur are who will get paid and when? Many people often have a vested interest in a company and there is a very clear order in which they will appear in the order of payment. While this is sometimes frustrating […]

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What is Bankruptcy?

Personal insolvency, including bankruptcy is something that nobody wants to face. In this video Gavin Bates, one of our directors , explains a little more about what insolvency means, other options to potentially avoid bankruptcy and what could happen if you do need to take the bankruptcy option. Many people come to PBC with questions […]

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When do I need an Insolvency Practitioner?

Do have a dog but try to bark yourself? They (dogs) are pretty good at it and are certainly better than me so I tend to let them do what they are better at! So, why is there an apparent reluctance to consult with an insolvency practitioner (“IP”) until the very last minute, if at […]

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So what went wrong?

“If you fail to plan then plan to fail”. A well-known phrase that everyone in business should have hanging in a prominent place as a reminder that operating a business carries risk as well as reward. Nobody takes that brave leap into being self-employed thinking their business will fail within the first two years. However, […]

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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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