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Cecil Kilpin | August 2019 Newsletter

By |2022-01-20T14:01:25+02:00Aug 16th, 2019|Accounting, Business, Finance + Economics, Goverment, Tax|

National Health Insurance (NHI) The NHI Bill was recently promulgated amid a mixed reaction sentiment, positive and negative. While one can identify strongly with the rationale, affordability is paramount as is the management of such a fund. “National Health Insurance is a way of providing good healthcare for all by sharing the money available for healthcare among all our people. The health benefits that you receive will depend on how sick you are, not on how wealthy you are.” So, the big question is how we fund this. The bill is very thin on the funding model with vague mentions of around 5% of the national wage bill plus zero medical credits going forward. Very simply, it would appear that roughly 20% of the population [...]

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Cecil Kilpin | July 2019 Newsletter

By |2022-01-20T14:07:00+02:00Jul 17th, 2019|Accounting, Business, Goverment, Tax|

Business Rescue – Directors Responsibility In the current economic climate, more and more companies are becoming financially distressed. Directors are duty bound to constantly monitor the company’s financial position, to determine whether voluntary business rescue proceedings need to be initiated. Failure to implement business rescue proceedings could result in the director being charged with reckless trading and be exposed to personal liability. It is incumbent upon directors to ensure that they place their companies into either business rescue or liquidation, or to cease trading, when the warning signs become evident. Directors should be aware of the practicalities of business rescue, and the duties and powers of the business rescue practitioner.     Where the director has reasonable grounds to believe that: The company is financially [...]

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