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Begbies Traynor Group
Date:
20/05/2021
Author:Begbies Traynor Group

Momentum builds for a blockbuster UK economic recovery in 2021

The Bank of England (BoE) upgraded its outlook for GDP, seeing a surge this year driven by a successful vaccination roll-out and a fully reopened UK economy in June combined with supportive fiscal and monetary policies and unleashed household savings. Overall, the revised UK forecast implies a faster GDP expansion this year, followed by slower growth next year. As ever, underneath the rosy headline outlook, the environment will remain precarious for some.
Begbies Traynor Group
Date:
13/05/2021
Author:Begbies Traynor Group

Begbies Traynor partners appointed as joint liquidator for Envy Asset Management Trading Ltd

A team from Begbies Traynor Group, led by Darren Reeds and Wesley Edwards, as well as Wong Joo Wan of Alternative Advisors Pte Ltd in Singapore, have been confirmed as joint liquidators of a BVI ent
Begbies Traynor Group
Date:
12/05/2021
Author:Begbies Traynor Group

Macro inventory: US economy’s downside surprise, while ECB hints at asset tapering

Uncertainty obscures the global economic outlook. In the short term, global growth will correlate with the pandemic’s path: from the efficacy of existing vaccines to stem the emergence of possible new Covid-19 variants to the effectiveness of policy action and the varying resilience of different economies to lockdown restrictions. But the long-term effects of the pandemic may take years to become apparent, such as changes in long-term supply and demand across economies and in the evolution of financial markets.
Rodgers Reidy
Date:
10/05/2021
Author:Rodgers Reidy

Lunch n Learn Webinar: The State of Australia's Rural Economy

The rural economy in Australia has been through somewhat of a transition in the past 18 months. The impacts of the COVID-19 pandemic and changes to our export arrangements with other nations, includin
Rodgers Reidy
Date:
01/05/2021
Author:Rodgers Reidy

Australian Insolvency - April 2021

The tables in the following link summarise data essentials captured from Rodgers Reidy's daily Risk Watch publication, which provides a synopsis of the insolvency market for April 2021 including: No.
GlassRatner
Date:
30/04/2021
Author:GlassRatner

Thinking About Exiting Your Business? Don’t Let a Pandemic Stop You

Although it may seem counterintuitive, if you've been thinking of exiting your business, right now might be the best time to do so. Glenn Bowman and Barbara Cowper explain why, what you should consider, and provide a step-by-step guide for getting started.

Rodgers Reidy
Date:
28/04/2021
Author:Rodgers Reidy

Bankruptcy or Liquidation?

The terms bankruptcy and liquidation are often used erroneously. Put simply, bankruptcy relates to an individual and liquidation relates to a company. In Australia bankruptcy is a legal process for an individual (rather than a corporate entity) when they are unable to repay their debts. The Bankruptcy Act 1966 covers insolvency for individuals. Perhaps the reason that terms are used incorrectly arises from the USA where “bankruptcy” is commonly used for a company which is insolvent (the inability to pay its debts when they are due) and companies can file for bankruptcy.
GlassRatner
Date:
26/04/2021
Author:GlassRatner

Farber and The Marquee Group Announce Strategic Partnership

A customized financial model can be a powerful tool for business leaders—providing analytical insight that tells a story. Farber has partnered with The Marquee Group to help clients better understand how the decisions they make today will impact their tomorrow.

GlassRatner
Date:
20/04/2021
Author:GlassRatner

A Cautionary Tale in Bankruptcy: When HST Came Back to Bite

When the CRA started actively reversing input tax credits for bankrupt companies, interested parties felt the pinch. John Hendriks and Hylton Levy discuss the domino effect this had on one company's Trustee, creditors and even directors—and how it was resolved.

Begbies Traynor Group
Date:
15/04/2021
Author:Begbies Traynor Group

UK exports recover in February as fears over permanent collapse in EU trade recedes

UK exports to the EU climbed by £3.7 billion in February, in a sharp reversal of the downward trend in January which saw a £5.6 billion plunge in the total value of exports to the bloc, newly published data by the Office for National Statistics (ONS) shows.
Rodgers Reidy
Date:
13/04/2021
Author:Rodgers Reidy

Australian Insolvency - March 2021

The tables in the following link summarise data essentials captured from Rodgers Reidy's daily Risk Watch publication, which provides a synopsis of the insolvency market for March 2021
Rodgers Reidy
Date:
07/04/2021
Author:Rodgers Reidy

Lunch n Learn Webinar - Binding Financial Agreements

Your client is getting married and you don’t know how to broach the idea of a Binding Financial Agreement (BFA) or exactly what a BFA can achieve for your client. Think about how hard it might be for your client to raise it with their future spouse, and how you can help by understanding the process, risks and benefits.
Begbies Traynor Group
Date:
07/04/2021
Author:Begbies Traynor Group

What is the Government’s Covid-19 Recovery Loan Scheme?

The new Recovery Loan Scheme (RLS) was launched on 6 April 2021 to provide financial support to businesses across the UK as COVID restrictions are lifted and companies once more begin opening their doors to customers and looking to recover and grow following the coronavirus pandemic.
Rodgers Reidy
Date:
29/03/2021
Author:Rodgers Reidy

Directors' Personal Liability for Company Taxation Debts & Superannuation

With the Jobkeeper subsidy having now ended, it is a timely reminder for directors to understand the personal liability they can face for Company tax debts. In April 2020 the ATO added GST, Luxury Car Tax ("LCT") and Wine Equalisation Tax ("WET") to the list of taxation debts for which a director can be held personally liable. The ATO can also impose a 200% penalty on employers who do not lodge their Superannuation Guarantee Charge (“SGC”) statement on time. Given the draconian effects that these laws can have on the company and the directors’ personal financial position we set out below a short summary of the laws which should be required reading for all directors and their advisors.
Rodgers Reidy
Date:
26/03/2021
Author:Rodgers Reidy

What is the Fair Entitlement Guarantee scheme?

The Fair Entitlements Guarantee (“FEG”) is a scheme introduced by the Australian Government for employees who have lost their job due to their employer being either declared bankrupt or placed into liquidation. In circumstances where the insolvent employer is unable to meet outstanding entitlements owing (excluding superannuation), the FEG scheme will act as a safety net for these employees and will pay these entitlements in accordance with the Fair Entitlements Guarantee Act 2012 (FEG Act).