Are there alternatives to liquidating a limited company without using an Insolvency Practitioner?
“I can’t afford to liquidate my company. What are the alternatives to liquidation?” This ia question we are often asked. When directors are facing the stressful task of closing their limited company, the cost of appointing a Licensed Insolvency Practitioner (IP) to run a formal procedure, such as a Creditors’ Voluntary Liquidation (CVL), can seem […]
Section 216 – Did you know The Reuse of a Company Name After Liquidation is Prohibited?
Section 216 – Did you know The Reuse of a Company Name After Liquidation is Prohibited
A reminder of the rules from our Insolvency Practitioners
Directors, if you do the same things again, you risk getting the same result – another liquidation!
“What am I going to do for work if I have to liquidate my company?”* I meet many directors every year, especially those of small companies, where we have acted as liquidators, who then tell me they want to set up a new business and start again. They say they don’t know anything different, want […]
In the Nicest Way, I Don’t Want to See You Again!*
Preventing Multiple Liquidations and Avoiding Director Disqualification Multiple liquidations can lead to an Insolvency Service investigation and possible Director Disqualification for directors breaching their duties. As a director at a firm of Insolvency Practitioners, my primary goal is to help businesses navigate through financial distress and, when necessary, guide them through the liquidation process. However, […]
What can agreeing Personal Guarantees mean in insolvency? Personal liability is the legacy from insolvency
Directors must always be wary of Personal Guarantees when borrowing money, especially when ‘alternative lenders’ are involved. One of the first questions we ask directors of insolvent companies is whether they have any Personal Guarantees (PG) on outstanding loans. The answer is often no, and yet, we quickly discover that many of them do. In […]
Record number of company closures and 5,000 more tax inspectors
More businesses under financial pressure, whilst Government announces 5,000 additional tax inspectors focusing on SMEs and reducing the tax gap After years of difficult trading for many businesses, two key statistics show that the outlook for many is worsening as we head into 2025. Plus, with the news that the Government is recruiting an extra […]
Honesty and listening are the best policies when Insolvency Practitioners are approached by directors of struggling companies
Nitin Joshi argues that when it comes to Creditors Voluntary Liquidations (CVLs), listening and being honest help craft the most cost-effective solutions In this article, one of our partners, Nitin Joshi, looks at the recent focus on Creditors Voluntary Liquidations by the Government’s Insolvency Service, much of it on costs. Nitin argues that these issues are […]
Will the VAT change lead to more insolvencies in the private schools’ sector?
What is the role of Insolvency Practitioners in private schools’ insolvencies? The Government’s plan to levy VAT at the full 20% rate on all c.2,600 private schools in the UK came into force on 1st January 2025. There has been much debate across the political and educational spectrum as to the likely outcomes for this […]
Big rise in company insolvencies predicted in 2025
Our Licensed Insolvency Practitioners expect a big rise in insolvencies following the significant increase in employers’ national insurance and the Minimum Wage in the recent budget. The November 2024 budget introduced several measures that have raised significant concerns from across the business spectrum about the likelihood of an increase in company insolvencies, especially amongst SMEs, […]
Pubs closing at fastest rate since Covid Pandemic
Only 50% of pubs are operating at a profit
Licensed Insolvency Practitioner Antony Batty reports on how a restructuring procedure could protect pubs against closure.
