Across many sectors, directors and their advisers are feeling the pressure. Cashflow is tighter, scrutiny has increased and risks are moving faster than they used to. HMRC enforcement is more active, expectations around director conduct have sharpened, and boards are often having to make finely balanced decisions with imperfect or fast‑changing information.
The five short articles below reflect issues we are seeing come up again and again in practice. Together, they look at enforcement risk, decision‑making in financial distress, the respective roles of advisers, where restructuring boundaries sit, and what expiry planning looks like in more mature sectors. Each piece is intended to be practical, current and grounded in the real situations that accountants and lawyers are dealing with alongside their clients.
HMRC Enforcement Rises: Key Steps to Stay Compliant
HMRC is taking a tougher line on growing tax arrears, with VAT, PAYE and Corporation Tax debts now more quickly escalating into enforcement action. While Time to Pay deals are still possible, HMRC is more selective, and cases can move fast from missed payments to statutory demands or winding‑up petitions.
When Directors Need Insolvency Help vs Legal Advice
When financial pressure begins to build, directors can be unsure whether to seek help from a lawyer or an insolvency practitioner. In reality, each provides different but complementary support: insolvency practitioners assess the business’s financial position, solvency and practical options, while lawyers focus on rights, obligations and contentious or contractual risks.
Board Minutes in Financial Distress: A Practical Guide
When a business is under financial strain, directors often make fast decisions with limited information, decisions that may later be scrutinised if insolvency follows. Clear, timely board minutes become essential, showing why decisions were made, what information was considered and how creditor interests were addressed.
When Phoenix Activity Becomes Misconduct
Phoenix arrangements, where a business continues through a new entity after insolvency, can be legitimate and even beneficial, preserving value and jobs when handled properly. But regulators are increasingly alert to cases that appear to shed liabilities, especially tax debts, while the business effectively carries on unchanged.
PFI and PPP Contract Expiry: What Directors Need to Know
A growing number of UK PFI and PPP projects are approaching expiry, and more directors are seeking guidance on handback, lifecycle close‑out and winding down SPVs. While many projects move toward a solvent closure, others face unresolved disputes or remediation costs that introduce insolvency risk.
A consistent theme across all of these topics is timing. In our experience, outcomes are rarely improved by delay, but they are often improved by early, proportionate advice and clear documentation of decisions as they are taken.
Early engagement does not mean that insolvency is inevitable or that formal processes are required. More often, it helps directors understand their position, preserve options, and avoid issues escalating unnecessarily. For advisers, it provides confidence that clients are acting responsibly and with an appropriate evidential trail.
If any of these themes are arising for your clients, we are always happy to have an early, informal discussion.
Last Updated on 20 April 2026
