CLIENT LOGIN funding@advantedgecf.co.uk 0800 007 3080 HOME ABOUT US OUR SOLUTIONS CLIENT AREA OUR CLIENTS LATEST NEWS & BLOG ADVISORS CONTACT LATEST NEWS & BLOG Featured Posts Advantedge Commercial Finance appoints Andy Phillips to new business role Appointment reflects firms continued commitment to making funding accessible 22 October 2021: Advantedge Commercial Finance (Advantedge),... Advantedge Commercial Finance exceed £100m funding milestone 16 September 2021 – Advantedge Commercial Finance has hit a funding milestone providing over £100m of funding to UK businesses to support... Government set to end temporary insolvency measures As UK economic activity continues to rise , signalling a return to normal trading conditions, the Government has announced, from 1st... Recent Posts Advantedge Commercial Finance appoints Andy Phillips to new business role Advantedge Commercial Finance exceed £100m funding milestone Government set to end temporary insolvency measures Advantedge Commercial Finance secures Ruth Bethel in business development role Advantedge Commercial Finance secures Finn to lead Thames Valley based operations Archive October 2021 (1) 1 post September 2021 (3) 3 posts June 2021 (1) 1 post April 2021 (2) 2 posts March 2021 (3) 3 posts February 2021 (2) 2 posts January 2021 (1) 1 post December 2020 (7) 7 posts November 2020 (5) 5 posts June 2020 (1) 1 post August 2019 (1) 1 post June 2019 (2) 2 posts May 2019 (1) 1 post March 2019 (2) 2 posts January 2019 (3) 3 posts November 2018 (1) 1 post July 2018 (1) 1 post June 2018 (3) 3 posts May 2018 (1) 1 post Sep 14 Government set to end temporary insolvency measures As UK economic activity continues to rise , signalling a return to normal trading conditions, the Government has announced, from 1st October, a phasing out of the temporary measures brought in to support businesses from insolvency throughout the pandemic. The Corporate Insolvency and Governance Act 2020 has protected companies that were experiencing financial distress as a result of the pandemic, from creditor action since June of last year. This was to ensure that those viable businesses that had seen their trading severely restricted by the nationwide lockdown measures, were not forced into unnecessary insolvency. With the phasing out announcement comes new measures that will be introduced to help smaller businesses steady themselves and trade towards financial stability before creditors can take action to wind them up. Hardest hit sectors of leisure and hospitality are seen to be most at risk without these appropriate new measures. The new legislation will: 1. See the current debt threshold for the issuing of a winding up petition temporarily increased to £10,000 or more, protecting businesses from creditors that insist on the repayment of relatively smaller debts. 2. Require creditors to give debtor businesses 21 days to make payment proposals before a winding up petition may be presented. These measures will be in force until 31 March 2022. However, the restrictions on winding up petitions for commercial rent arrears will continue as previously intended by the Government in order to protect business tenants from eviction up to this agreed date. This is whilst it seeks to implement a rent arbitration scheme to deal with the vast amount of accrued commercial rent debt caused by the pandemic. Although these measures are reflective of the further opening of the UK economy and will give businesses some welcomed short term certainty as they look to rebuild, the phasing out of the old protections could see a significant rise in reported insolvencies on businesses experiencing cashflow pressure within the coming months. Advantedge Commercial Finance Ltd, Registered Company number 04206708. Advantedge Commercial Finance (North) Ltd, Registered Company number 08579241. Registered office address: 1 London Street, Reading, Berkshire, RG1 4PN © 2020 Advantedge Commercial Finance Ltd Contact Us Accept Cookie Settings We use cookies and similar technologies to enable services and functionality on our site and to understand your interaction with our service. By clicking on accept, you agree to our use of such technologies for marketing and analytics.See Privacy Policy