Author Archives: myersclark

The International Monetary Fund (IMF) has warned today that the most recent forecast suggests a UK exit from the EU could cause “severe regional and global damage”.

The leak of 11.5 million documents from Mossack Fonseca has grabbed headlines and revealed truths about long-held suspicions of money-laundering, tax evasion and illicit offshore companies. The majority of reports focus on the high-profile individuals’ involvement in money laundering and tax evasion, but what do we actually know and how does Mossack Fonseca really work?

Yesterday Mossack Fonseca was thrown into the spotlight after 40 years of being one of the most secretive companies in the world. German newspaper, Suddeutsche Zeitung (SZ), revealed a huge leak of internal documents which implicates a number of government heads and leaders using shell companies to harbour billions of dollars.

New online bankruptcy applications are faster, less expensive and no longer require individuals to apply to court.

The Chancellor’s third Budget in the space of 12 months was expected to be less exciting than its two predecessors. His room for manoeuvre was seen as constrained by disappointing economic numbers and June’s EU referendum.

A recent survey conducted by R3, the trade body for Insolvency Professionals, has found that over half of insolvency practitioners (IPs) think HMRC makes it harder to rescue businesses rather than wind them up.

The EU in-out referendum continues to pepper the news, with the intensity of discussion and debate increasing week on week. The negotiations, led by David Cameron, look to have set the tone for the run-up to the referendum as intense and determined. The agreed reforms will have brought Britain closer to resolving some of the […]

Economic Growth Forecasts The Office of Budget Responsibility will, later this week, announce the forecasts for economic growth. The July predictions anticipated growth of 2.4% this year, however, the Chancellor’s comments about ‘storm clouds’ suggest the economy is not as strong as previously thought. This is then expected to have an impact on the surplus […]

he Insolvency Service has announced there will be a 7% reduction in the cost of entering a bankruptcy.The government fees for an individual applying to be made bankrupt are to be reduced to £655 from £705.

Government proposals will bring permanent non-domicile status to an end from 6 April 2017. A person will be deemed to be domiciled in the UK for all tax purposes once they have been resident in the UK for at least 15 out of the previous 20 tax years.