Solvent liquidations

A record number of solvent companies were wound-up in March 2016 as company directors responded to a change to tax rules introduced at the beginning of April, according to research by insolvency trade body R3. There were 2,663 solvent liquidations in March, over two-and-a-half times more than the previous record of 992 in April 2015. The monthly average for the 12 months prior to March 2016 was 768. Read more at www.r3.org.uk

Vice President

Nicky is confirmed as the Vice President of the AAT at their AGM today. She will become President in 12 months' time.

Online bankruptcy applications

As of today, a new process has been introduced for people wanting to make themselves bankrupt. The old style petition to the Court, with an actual appearance in front of a Judge, has been abolished. Now there will simply be an online application to a newly-created Adjudicator. The danger, of course, is that if you can't see a Judge he can't warn you if you are doing the wrong thing, or tell you to seek advice. Anyone contemplating bankruptcy should seek advice from an Insolvency Practitioner before taking this serious step.

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