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
Discover the benefits of reaching out to licensed insolvency practitioners as a creditor who is owed money. When a company is failing, it is usually the... [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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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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Expert advice on dealing with disputes in the boardroom
In life – and in business – we can’t get along all the time. Unfortunately, boardroom and shareholder disputes are not uncommon and can arise for many... [Read the full blog...]Filed Under: Business Insolvency
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The future of food – what’s next for the industry after the pandemic?
It’s been a challenging 12 months for the food and drink industry. Whether it’s mitigating the impact of COVID-19 and the effect of the pandemic on the... [Read the full blog...]Filed Under: Business Insolvency
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Terminal Losses, VAT Bad Debt Relief and Crown Set Off
Often the reason for a company’s failure is either one large bad debt, or a series of problems with customers and loss of profit. However, terminal losses... [Read the full blog...]Filed Under: Business Insolvency
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The Warning Signs of Insolvency
When it comes to finance, it’s easy to bury your head in the sand. But with a business, recognising the warning signs of insolvency early could mean the... [Read the full blog...]Filed Under: Business Insolvency
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Here's exactly what to do if you can't pay your Corporation Tax
In an ideal world, every single business would be in a plum financial position. We would never need to worry about not being able to pay the tax bill.... [Read the full blog...]Filed Under: Business Insolvency
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Everything you need to know about directors’ loan accounts
Directors’ loan accounts are a notoriously complicated issue for company directors to understand. Essentially, unlike sole traders or partnerships where... [Read the full blog...]Filed Under: Business Insolvency