What are the advantages and disadvantages of Administration?
When a company enters administration the control of the company is passed to an appointed administrator. Their primary goal is to then
HMRC Winding Up Petition Rates at a 5 year High
Over the course of the last year the number of winding up petitions sought by HMRC has increased by 21%. In fact
What can a bailiff legally take from my workplace or home?
Enforcement officers, also known as bailiffs can be appointed by a creditor to recover the money which is owed to them. Nick
If you are a sole trader concerned about Insolvency – read this now
When a limited company becomes insolvent, directors receive protection from personal liability through what is known as the ‘veil of incorporation.’ The
What is a Partnership Voluntary Arrangement (PVA)?
A Partnership Voluntary Arrangement (PVA) is an agreement whereby Partnerships repay a proportion of business debts to unsecured creditors. It is useful
Clampdown on ‘Hidden Employees’ brings in over £800m for HMRC
Investigations into payroll arrangements among companies across the UK brought in over £800m to the Treasury during the 2016/17 tax year. Ben
If I suspect a customer or a supplier are in financial distress – what should I do?
If you believe a supplier or customer is experiencing financial distress, it is important to find out as much as possible about
Could cashflow problems in my business affect my personal finances and credit rating?
Jason Elliott at Bolton Insolvency Experts explains why sometimes business cashflow problems can affect you personally. Sole traders and individual members of
In a liquidation procedure in what order does the Insolvency Practitioner (IP) pay the creditors?
An insolvent liquidation procedure involves the sale of assets, and distribution of the proceeds amongst company creditors. An IP is appointed to
I need an Insolvency Practitioner (IP) to close my company but I am concerned that I am unable to afford the fees
If your company has entered insolvency and there is no possibility of returning to profitability, you will need to repay your creditors