Struggling with company debt can be challenging; many directors find that the turning point into official insolvency is being unable to pay HMRC their tax obligations. In these situations, the company enters an insolvency procedure. Which procedure depends on whether HMRC applies via the courts for compulsory liquidation or the company’s directors opt for a […]
How to Close a Company with HMRC Debts in the United Kingdom Read More »
What was formerly known as Entrepreneurs Relief is now known as Business Asset Disposal Relief (BADR). It is a tax relief benefit that can reduce the Capital Gains Tax (CGT) that is paid on the sale of the assets of a solvent company that is either being liquidated or sold. When a solvent company is
Business Asset Disposal Relief on Liquidation in the United Kingdom Read More »
For any company or personal insolvency procedure or for the closing of a solvent business in the United Kingdom, it must be handled by a licensed insolvency practitioner (IP). But finding one that is able to handle your situation and that you can work with is another matter. However, there are several sources you can
How Hard Is It to Find a Licensed Insolvency Practitioner in the United Kingdom? Read More »
British Steel Case Study British Steel was created in 1967 as a nationalised company and was established as part of the Iron and Steel Act 1967, largely in response to the huge demand for steel following the Industrial Revolution. The company was later privatised in the 1980s and has since undergone major changes over the
British Steel Case Study : What is Compulsory Liquidation in the UK? Read More »
Company insolvency is not an easy situation to deal with; what’s also a difficult decision is deciding which route to take to resolve the situation. Is it better to liquidate the company and use its assets to pay back creditors? Alternatively, if the company is worth saving, is administration a better option to give your
Liquidation vs Administration – What Should You Consider for Your Business? Read More »
Having to admit insolvency and face liquidation is not easy for any company director. No liquidation process is easy but what will make the process simpler is professional liquidation solicitors. When entering into a CVL (Creditors Voluntary Liquidation) or an MVL (Members’ Voluntary Liquidation) process, it must be handled by a licensed insolvency practitioner (IP)
Why You Should Consider Simple Liquidation for CVL & MVL in the United Kingdom Read More »
Debt is not an easy matter to deal with. The last couple of years have possibly been the hardest for many businesses, large or small, due to the impact of the coronavirus pandemic. Sadly, for some business owners, it’s difficult to see a way past the debt and into recovery. Being in debt, whether it’s
Best Guide for Business Recovery Services & Rescue in 2022 in UK Read More »
Businesses across the UK haven’t had an easy time recently; not only are many fighting to survive after the pandemic of the last two years, but they have also had to deal with an energy crisis, increasing inflation and the potential of a recession looming, as well as the threat of ongoing rising costs due
Best Disaster Recovery Plan for Small Businesses Read More »
Lockdowns in 2020 and early 2021 due to the coronavirus pandemic hit many businesses across the UK hard. To help small businesses that were, and are, struggling to survive due to Covid-19, they were able to apply for funding via a Bounce Back Loan Scheme introduced by the Government in May 2020. The loan allowed
What Happens If a Company Can’t Pay It’s Bounce Back Loan? Read More »
When a limited company enters receivership, also known as administrative receivership, it is usually because it has serious cash flow problems and is insolvent. The same can be said for a company being liquidated. Both processes are for insolvent limited companies and must be handled in accordance with the Insolvency Act 1986. However, the process
