Latest News – Debt Solutions Hub

Many businesses in the UK face considerable financial difficulty as the uncertainty of ongoing trade with Europe continues. The value of the sterling, rising inflation and prolonged Brexit negotiations are all having a negative effect in many sectors. Some organisations that trade with Europe have reached crisis point due to the inevitability of reduced trade under these circumstances and increased associated costs. According to the insolvency and restructuring body R3, a third of all companies are susceptible to insolvency up from around a quarter at the start of 2017 ...

Employee Benefit Trusts ("EBT'S") had become more prevalent over the last 10 - 15 years or so and were most heavily marketed to companies between around 2007 and 2014 as a means to reward employees in a tax efficient manner. Typically companies would pay monies into a trust which could then be loaned to the employee on favourable terms without PAYE and NIC charges. The schemes, which had to be notified to HMRC under their own disclosure rules were compliant with legislation and advice ...