The Analysis News & Opinions


Opinion


Budget 2017: Bankruptcy impact needs considering


With £820m of new anti-tax avoidance measures announced in last month’s Budget, the government needs to think more carefully about the impact these have on those individuals affected. Tackling the abuse of the tax system is needed, but efforts to do so should not tar everyone with the same brush, while inflexibility can have disproportionate or unproductive outcomes. Attention should be given to how people


can pay new tax demands, especially if their ‘avoidance’ is the result of a simple mistake, naivety, or poor advice. Penalties for tax avoidance will not bring


in extra money if people do not have the money on hand to pay them. The receipt of an Accelerated Payment


Notice (APN) can force people into bankruptcy if they have no means to pay on demand. The government may need to be open to alternatives to bankruptcy, like IVAs, if people cannot pay bills when due. An understanding that not everyone who


has been involved with, for example, a film scheme has been deliberately seeking to avoid tax would help. Some people have become involved in such schemes unwittingly or following what they believed to be professional and reliable advice. Businesses are also significant recipients


of APNs, which can put jobs and livelihoods at risk. In June 2016, 16% of respondents to our


member survey said they had offered advice to an individual who had received an APN. Also 1.5% of respondents to the same survey said they had already been appointed as an office holder in an individual’s insolvency triggered by an APN and 26% of respondents said they had offered advice to a business which had received an APN. Moreover, 12% said they had been


appointed as an office holder in a corporate insolvency triggered by an APN.


Andrew Tate President, R3


First CCRInteractive speakers named


The first new speakers for CCRInteractive, in 2017, have been announced, promising fresh insight and analysis, from a wide range of industry sectors, for senior figures in the credit and collections industry. Amongst these first speakers are James


Ross, barrister, Gough Square Chambers; Bill Esterson, shadow minister for small business; Matthew Davies, deputy chief executive officer, Asset Based Finance Association; Stephen Bint, head of collections, HRAM & customer management, permanent tsb; and John Davies, chief executive, The Just Loans Group. Also, Caroline Walton, chief customer


insight officer, Dollar UK; Guy Thompson, credit risk manager EMEA & China, Sun Chemical Group; Andrew Barbaro, regional credit manager, Antalis; Dr Sandra Frisby, associate professor and reader in company law, Nottingham University; Gary Brebner, chief executive, The Loughborough Building Society; and Rajiv Nathwani, founder and director, Quivira Capital.


Stephen Kiely, editor of CCRMagazine,


said: “Every year, at CCRInteractive, the quality of the presentations is one aspect that makes the event truly stand apart. So I am delighted with the high quality of speakers that we have been able to attract, even at this early stage in the process. “At a time when we need to look to the


leaders of the industry to guide us through changes


in regulation and customer


expectations, we have put a real emphasis on presenting experienced and knowledgeable speakers from a wide range of sectors.” l CCRInteractive will be held on Tuesday 3 October, again at the prestigious Guoman Tower Hotel in central London. To be part of the day, contact Gary Lucas on 07785 268404 or at gary@ccrmagazine.co.uk.


Retailer creditors’ opinions to be sought


Credit professionals in the retail sector are to have their opinions sought on the key issues facing them. The results of this research, by CCRMagazine, will be published in the April edition of the magazine. The research will inform a round-table


debate being run in association with FICO, where credit professionals in the retail sector will be asked to give their views on the key issues of the day. Questions to be included will cover


affordability, regulation in terms of both the Financial Conduct Authority and the High Cost Credit Review, movement between customer channels, the increasing role of self-serve, and the continuing role of face-to- face customer interaction.


6 www.CCRMagazine.co.uk Stephen Kiely, editor of CCRMagazine,


said: “The retail sector is hugely important to the UK economy and it seems that credit and collections professionals there are facing specific issues. So this an excellent opportunity for the industry to have its say and to really lead the debate.” l The research project will be carried out by way of a short e-mail survey. To take part, or to express an interest in attending the debate, email stephen@ccrmagazine.co.uk.


April 2017


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