R3's latest Quarterly Business Health report, published at the end of April 2026, confirms what most accountants will already be seeing across their client portfolio. More than 1.57 million UK businesses are now carrying overdue invoices, with the total number of overdue invoices rising to 17.48 million in Q1 2026, up 3% on the same period last year. R3's president Tom Russell called late payments a significant contributor to business failure, noting that mounting arrears can

When a corporate client's debts become unmanageable, the right formal process depends on one question: does the business have a realistic future, or is structured closure the better outcome? Understanding the options available, and when each one applies, helps you give better early guidance and refer at the right time. How we assess the position Before any formal process can be recommended, the financial position needs to be properly understood. That involves us looking beyon

When a client misses a tax payment, it’s rarely just an oversight. In many cases, it’s the point where underlying cash pressure starts to surface. As their accountant, you’re often the first person they turn to once HMRC letters or reminders start to come in. The key is helping these clients understand what HMRC is likely to do next and which options still leave them in control. How HMRC typically responds HMRC’s approach is usually structured rather than sudden. Most cas