Category: Corporate

Boohoo adds Debenhams to growing portfolio after £55 million acquisition

Online fashion giant Boohoo has added struggling department store Debenhams to its business portfolio for a reported price of £55 million, reports have revealed.

Thousands of firms fined for breaching money laundering regulations, figures reveal

More than 2,000 firms were fined for breaching anti-money laundering regulations in 2020, a major report has revealed.

Companies House proposes new director verification reforms

Directors should not be appointed until their identity can be verified in major proposals set out this month.

UK partners could be made “equally responsible” for anti-avoidance regime penalties incurred by offshore promoters, HMRC reveals

UK partners could be made “equally responsible” for anti-avoidance regime penalties incurred by offshore promoters, it has been announced.

Businesses can now apply for a Bounce Back Loan top-up

Businesses can now apply to top up their Bounce Back Loan (BBL) if they originally borrowed less than the maximum amount they are entitled to, it has been confirmed.

Government unveils new Financial Services Bill

The Government’s new Financial Services Bill will maintain the UK’s “world-leading regulatory standards and openness to international markets”, it has been announced.

New rules on compulsory scrutiny for pre-pack administration

The Government has announced that mandatory independent scrutiny of pre-pack administration sales will be required where connected parties are involved in the purchase.

Coronavirus loan scheme expanded to more businesses

The list of small businesses that can apply for assistance under the Government-backed Coronavirus Business Interruption Loan Scheme (CBILS) was significantly expanded on the 30th July 2020 to include all firms “in difficulty”.

Foreign direct investment surges ahead of the end of the Brexit transitional period

A surge of foreign direct investment in the UK (defined as an investment in the form of a controlling ownership in a business in one country by an entity based in another country) resulted in the launch of 1,853 new projects in the 2019/20 tax year, it has been revealed.

Almost one in three businesses “expect redundancies”

A major study has revealed that almost one in three businesses expect to decrease the size of their workforce in the next three months due to the coronavirus.