As part of Menzies commitment to sharing #BrighterThinking our teams of accounting and business advisors have been providing their opinions on some of the leading hot topics raised within some of the UK’s leading national, regional and specialist press titles.
Here follows a summary of Menzies in the media for May 2019.
Keep suppliers close to avoide cash flow woes
Insider Wales – 7th May 2019
Menzies Insolvency Partner John Cullen explores whether – when it comes to your supplier relationships – focusing too much on quantity over quality can cause a business to miss out on other (possibly more valuable) opportunities.
“In today’s uncertain economic climate, business owners will likely be looking for any opportunity to boost their financial position. Developing close supplier relationships is key in this regard.”
Read John’s assessment via Insider Wales.
Overseas Investment Update
Spear’s Magazine – 12th May 2019
Menzies Private Client Partner Craig Hughes and Senior Manager Russell Dickie reviews the Government’s decision to amend the tax treatment of overseas investment in UK commercial property and the likely impact on short and long-term. revenues
“The most attractive tax incentive for overseas investors has undoubtedly been a complete exemption from UK Capital Gains Tax (CGT) on profits generated from the sale of a UK commercial property.”
Read Russell’s evaluation Spear’s Magazine.
Beware invoice scammers
FT Adviser – 14th May 2019
Menzies Senior Manager Mike Ayres reviews why and how the UK’s financial services sector is fighting back to to reduce the risk of invoice scamming techniques e.g. phishing attacks.
“Among those most at risk of being targeted are businesses that hold large sums of client money for the purposes of making transactions e.g. property bonds, investments or insurance.”
Read Mike’s feature via the FT Adviser .
This is Money – 23rd May 2019
Menzies Business Recovery Partner Simon Underwood comments on the news that the Arcadia Group plans to close 23 stores amid a Creditor Voluntary Agreement (CVA).
“As a legacy retail group with significant overheads, it’s little surprise that Arcadia Group has become the latest victim of tough High Street trading conditions.
With the number of retailers with large property portfolios dwindling, they may well be one of the last to put a CVA plan in place. This failure also highlights that a longer-term solution to the sector’s struggles is urgently needed.”
Read Simon’s comments via the This is Money.
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