Simpler tax system proposed for SMEs
News Article - 05 December 2006
Category:
Business
The Institute of Chartered Accountants of Scotland (ICAS) is
warning that more needs to be done to deal with unregulated debt
consolidators.
Stating that it represents the majority of the nation's insolvency
practitioners, the institute made its announcement on the back of
the third reading of the bankruptcy and diligence bill at the
Scottish parliament.
ICAS insolvency director, Anne Bryce, said: "The problem of
personal debt is becoming a huge issue not just for those affected,
but for society in general."
She added that the Scottish executive and the UK government should
work together to address the situation in which people without the
means to repay their debts are still being offered credit.
Insolvency practitioners are obliged, she said, to offer the best
advice they can and are generally regulated to "the highest
professional standards".
The bankruptcy and diligence bill is due to be reformed and
modernised should it be passed, with proposals which would include
creating a balance between the right of the creditor to be paid and
the right of the person in debt not to receive excessive or harsh
treatment.
Article keywords:
insolvency , ICAS, debt, debt considators
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