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Can’t pay your taxes? Here’s what to do next
During the coronavirus crisis, HMRC tax debt collection was paused as businesses struggled to cope with the disruption caused by the pandemic. As economic... [Read the full blog...]Filed Under: Business Tax Advice
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When borrowing is the best option for your business
The definition of insolvency is being unable to pay your debts as they fall due. There are a number of reasons why a business might become insolvent, from... [Read the full blog...]Filed Under: Debt Relief Orders
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What is compulsory liquidation and how does it work?
Compulsory liquidation is a formal business insolvency procedure which results in a company being forcibly shut down. It is typically started by... [Read the full blog...]Filed Under: CVL
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What is a preference payment in insolvency?
When a company becomes insolvent, one of the main directors’ responsibilities is to act in the best interests of all of the company creditors.... [Read the full blog...]Filed Under: Business Insolvency
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The benefits of contacting a licenced insolvency practitioner
When a company is failing, it is usually the directors who approach a licensed insolvency practitioner for advice and guidance on what they should do... [Read the full blog...]Filed Under: Business Insolvency
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New powers given to tackle unfit directors of dissolved companies
The Insolvency Service has recently been given new powers to investigate directors of companies that have been dissolved. Previously, the Insolvency... [Read the full blog...]Filed Under: Business Insolvency
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Help – I can’t keep up with my CVA payments! What should I do?
A company voluntary arrangement (CVA) is an insolvency solution for companies who are currently facing financial difficulty but could turn things around... [Read the full blog...]Filed Under: CVA
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Director’s loan accounts, S455 and liquidation: everything you need to know
When a director takes more money out of a company than they put in, the director’s loan account becomes overdrawn. And if your director’s loan account is... [Read the full blog...]Filed Under: Business Insolvency
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5 signs that you need debt support and advice
From time to time, we all get the feeling that perhaps we aren’t managing our money as well as we could be. However, as a sole trader, things can spiral... [Read the full blog...]Filed Under: IVA (debt)