Statement – Lundin Links Hotel
A fire broke out in Lundin Links Hotel, an asset currently owned by ‘Kapital Residential Ltd’, of whom Middlebrooks has been appointed liquidator. I am aware that the aftermath of the fire is causing large disruption to the residents and local community near the Hotel. It is my role to work with the various stakeholders […]
£16BN lost to fraud and error in COVID business support schemes
It is currently estimated that the UK Government has lost as much as £16Bn as a result of fraud and error across the emergency COVID-19 schemes such as Bounce Back Loans, Coronavirius Business Interruption Loan Schemes and Furlough to name the three best known. Latest figures show that the government loaned or guaranteed amounts reaching […]
Zombie Companies : The Walking Dead of Business
The support offered by the government in light of the pandemic has further deepened the divide between those companies who have prospered and those who have and are facing worries over their futures. In the former, are eCommerce businesses who have in the main flourished, these include digital communications and logistics given the enforced need […]
Are You Worried About Your Company Strike Off Suspension Due To Unpaid Bounce Back Loans?
Over £21bn was borrowed by UK businesses during 2020 as part of the Bounce Back Loan Scheme. Being a government-backed bank loan gave it added security along with the fact that it didn’t require any security from borrowers to gain access. That said, the government has advised lenders to follow their usual protocols for chasing and […]
Timeline to Government’s Business Support Measures Wind-down
Over the coming weeks and months, business owners will have to carefully plan their debt obligations and cashflow needs as government support winds down, businesses must contribute to the Coronavirus Job Retention Scheme and repayments for deferred tax liabilities and loans are required. March 2021 CLBILS, CBILS and BBLS close to new applicants. April 2021 […]
As A Business Owner, Can You Liquidate Your Company If You Have a Bounce Back Loan?
Thousands of small businesses due to start repaying Covid support loans could find themselves unable to make payments. Can you wind up your company if it already has a Bounce Back Loan? A new legislative measure preventing company directors from informally closing their business to avoid an investigation into director conduct, instead of entering a […]
11 Strategies Every Financial Advisor Needs to Have Difficult Conversations with Their Clients
Hey, we need to talk…. For many of us, this is one of the scariest phrases , especially if you are a financial advisor. Like all professionals, financial advisors may have blind spots when it comes to having difficult conversations. And yet the ability to have these conversations with other people is one of the […]
What Is The Recovery Loan Scheme?
The Recovery Loan Scheme (RLS) was announced by the Chancellor in the Spring Budget and replaces the previous coronavirus loan schemes (Bounce Back Loan Scheme / Coronavirus Business Interruption Loan Scheme / Coronavirus Large Business Interruption Loan Scheme), which closed to applications at the end of March 2021. The RLS has been designed to help […]
Mental Health Awareness : Why We Associated with SAMH (Scottish Association for Mental Health)
At Middlebrooks, supporting the health and well being of our team members and clients is an integral part of our ethos. This year, we will be working hard to raise awareness and support the initiative in collaboration with SAMH (Scottish Association For Mental Health). It is our vision to help our clients in financial distress […]
What happens if you Don’t Pay Back a Bounce Back Loan?
Before you start wondering about what would happen if you were to default repayments to Bounce Back loan, it is important to understand how it works. Let us discuss what BBLS is. The pandemic has lead to troubling and challenging times, especially for small to medium-sized businesses (SMEs) that depend on their day-to-day operation to […]