Turnaround in 2013

4 December 2012

The TMA event held last week in Bristol with Clarke Willmott was a success with some very interesting speakers.

We heard from Philip Winterbourne, the Partner at Clarke Willmott LLP who told us how they saw the year 2012.  Principal observations were that the bank's liquidity rules and their fear of calling in loans that may have had interest rate swapping products attached them had meant that fewer companies were going into administration.

Nic Hanson from Close Brothers Invoice Finance pointed out how the market for factoring and invoice finance was growing all the time and many businesses had taken on this form of finance.  Particularly because again due to liquidity rules Invoice finance meant they didn't have to hold as much capital.

Finally Keith Steven of KSA Group explained why "Zombie companies" existed and what the future held for them.  The biggest challenge they may face could be with Real Time Information or (RTI) which will mean that companies can no longer hide their PAYE liabilities until the following year.

See his presentation below

The event was well attended with representatives from Russams GMS Interim managers, KPMG and Accountingweb.co.uk coming along to enjoy the networking and hospitality that was kindly put on and hosted by Clarke Willmott.  KSA Group helped sponsor the event.