Latest News and Updates from the IFA

16th May 2012

R3: Regulator failing to address pre-pack concerns

THE INSOLVENCY REGULATOR is failing to address concerns about pre-pack administrations, said insolvency trade body R3. According to a report published by the government's Insolvency Service just 4% of reports relating to pre-packs (SIP 16s) were referred to practitioner licensing bodies. However...

16th May 2012

Tyrie wants HMRC to have greater policy input

THE TAXMAN should have greater input in the formulation of tax policy, according to Treasury Select Committee chairman Andrew Tyrie MP. Speaking at the CIoT's Tax Advisers' Address in Westminster, Tyrie said he felt it was necessary to "beef up HMRC's policy-making role", adding "HMRC is blamed fa...

16th May 2012

Corporate restructuring surge threatens covenants

A SURGE in corporate restructuring caused by the recession has put employer covenants at risk, Punter Southall Transaction Services has warned. More corporates are expected to default over 2012 and businesses such as Premier Foods, TUI Travel, JJB, Logica and Punch Tavern have already restructured...

16th May 2012

Fines against IPs increase fivefold in 2011

FINES AGAINST INSOLVENCY PRACTITIONERS have increased by more than four times in the last year according to government statistics. In the latest report from the Insolvency Service, consent agreements and fines against insolvency practitioners increased to 19 in 2011 from four in 2010. There are ...

16th May 2012

Deloitte appointed auditors at Pinewood Shepperton

ERNST & YOUNG has stepped down as auditor of Pinewood Shepperton, following the film studio's acquisition. Deloitte, auditors of the film studio's new owner Peel Group, have replaced its fellow Big Four firm in the role. Finance director Patrick Garner stepped down from the studio last month aft...

 

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