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Home > News > Personal Insolvency Statistics
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21 October 10
Personal Insolvency Statistics

Cumbria comes near bottom in insolvency survey – no bad thing?

R3 (the insolvency practitioners’ trade body) released their new ‘personal insolvency map’ which shows the number of new personal insolvencies in each parliamentary constituency in 2009. The good news for Cumbria is that Cumbria came near the bottom of the list.

The top three personal insolvency ‘hotspots’ as reported by R3 are Torbay (a Lib Dem seat), Mansfield (Labour) and Weston-Super-Mare (Conservative). Newly-elected Labour leader Ed Miliband’s constituency of Doncaster North is in the top twenty constituencies with the highest numbers of insolvencies while PM David Cameron’s Witney is about half way down the list, and coalition partner Nick Clegg’s Sheffield Hallam seat holds the fourth lowest number of new personal insolvency cases. 

For help with personal debt issues including a free initial consultation please contact Jeanette, Jackie or Carol on 0800 9540520.

 

 
 
30 January 2012

New rules being brought in by HMRC on 1 March 2012 will effectively ban the use of the informal winding up of companies to take advantage of 10% tax rates.

This announcement is largely in response to the growing trend of accountants advising their clients to leave profits in their company and then extract them at a 10% capital gains tax (CGT) rate on an informal winding up of their company.

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