Economy | James Rosa Associates

11 years of debt advisory services

By Mr Bankruptcy 11th October 2021 This October is James Rosa Associates’ 11th Anniversary. During that time a lot has changed in the world. In 2010, David Cameron became Prime Minister in coalition with the Lib Dems and an ash cloud from the unpronounceable Icelandic volcano Eyjafjallajokull grounded every passenger flight in the country. Yet […]

HMRCs “cautious approach” offers hope

By Mr Bankruptcy 21st July 2021 There’s been a lot of concern over the long-term viability of many businesses struggling with mounting debts as a result of the ongoing impact of Covid-19, but HMRC is offering a potential ray of light to cut through the dark clouds that still loom overhead. Insolvency enforcement as a […]

What happens if my business can’t repay its Bounce Back Loan?

By Mr Bankruptcy 29th June 2021 Bounce Back Loans (BBL), which were introduced to help businesses stay afloat during the pandemic, have been in demand with more than 1.5 million businesses taking advantage of the scheme. However, with the first repayments due in June, what will happen to those businesses which will struggle to repay […]

Will lifting the ban on winding up petitions herald a coming storm for businesses?

By Mr Bankruptcy 17th June 2021 The ban on winding up petitions during the Covid-19 pandemic has been a lifeline for many businesses. Yet, with this ban now due to be lifted at the end of September, are many businesses facing a financial storm they aren’t yet ready to weather? The impact of banning winding […]

How can the Government’s business support packages help your business?

By Mr Bankruptcy 23rd March 2021 According to the Chancellor of the Exchequer, the aim of his 2021 budget was to ensure that it “meets the moment”. For the Government, this means a budget that supports jobs and businesses as the restrictions around the pandemic lift and we return to a more normal way of […]

What is the current situation for debt in UK?

By Mr Bankruptcy 29th January 2021 The Covid pandemic has had a serious impact on individuals and businesses, and many people are going to need help with unmanageable debt in the months and even years to come. The true extent of the effects of lockdowns and a restricted economy is now being understood and the […]

Are you at risk of running a zombie company?

By Mr Bankruptcy 29th October 2020 Lockdown has seen the rise of a hoard of zombie companies across the country. The Guardian newspaper reported that 20% of businesses in Britain are zombie companies; could yours be one of them? What is a zombie company? A zombie company is the name given to businesses that can’t […]

What could be the impact of the furlough scheme ending?

By Mr Bankruptcy 25th August 2020 When the Chancellor announced the Job Retention Scheme, commonly known as furlough, millions of employees and businesses breathed a sigh of relief as it provided some short-term security whilst the UK and the world adjusted to managing the global Covid-19 pandemic. Now that the furlough scheme is due to […]

What will be the impact of lockdown on business insolvency?

By Mr Bankruptcy 30th June 2020 As we see lockdown measures easing, the Government is looking to drive a bounce back in the UK economy, but figures reported in June by the OECD state that our economy is set to decline by 11.5% in 2020. Such an economic decline suggests that many businesses will have […]

What should your business be doing if you’re worried about insolvency?

By Mr Bankruptcy 29th April 2020 In March, The Independent newspaper reported that almost a fifth of UK’s small businesses could be gone within a month due to the financial crisis caused by Covid-19 restrictions. This is despite the billions of pounds of support being made available by the UK Government and the changes made […]