If your business is trading as a sole trader/ partnership, it’s important to ensure that your spouse has a separate bank account, and that none of your personal assets (such as your home) have a loan secured over them. Secured loans are ranked towards the top in order of creditors, therefore any investments into the business should take this form. In reverse, investments which take the form as shares will be at most risk if the company fails. However, to add another layer of complexity, investments that are taken as loans can affect the solvency position of the business, as they’ll be deemed as a liability (as opposed to share capital which is recorded as an asset). Obviously, this is a specialist area, therefore advice should be taken at the earliest stage possible.
We believe that The Insolvency Experts are the ideal option to help a
range of companies find the ideal solution to their current financial issues.
For any company facing serious financial issues, our experts can provide immediate support and guidance, helping you to take the appropriate steps to meet any impending deadlines.
If you are concerned about the financial position of your business and would like expert advice, our Insolvency Practitioners have a long track record in helping companies in similar positions.
The Insolvency Experts help with any concerns regarding debt, administration or liquidation. We can help you take the best course of action, often using your assets to help you avoid any additional cost.
We offer a highly qualified and experienced
team who can offer the advice you need.