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  • How Can I Stop A Creditor Putting My Company into Liquidation?

    How Can I Stop A Creditor Putting My Company into Liquidation? As a company director or business owner, the threat of creditors initiating compulsory liquidation is an ever-present concern. Failing to address this issue can result in severe consequences for your company, employees, and personal reputation. Ways to stop a creditor from putting your company…

  • What happens if I can’t pay a Bounce Back Loan or CBILS Loan

    What happens if I can’t pay a Bounce Back Loan or CBILS Loan Liability to repay remains with the business that has taken out the loan unless it enters liquidation. Many businesses face difficulty in repaying these loans due to ongoing cash flow problems. In this blog post, we’ll explore the ins and outs of…

  • What is an Unenforceable Personal Guarantee

    What is an Unenforceable Personal Guarantee An unenforceable personal guarantee is a situation where a personal guarantee, initially meant to hold an individual accountable for repaying their debts, is deemed unenforceable by law. We will look into personal guarantees, focusing on “what is what is an unenforceable personal guarantee anyway” and how to identify, challenge,…

  • Understanding Eligibility for Director Redundancy Pay

    Understanding Eligibility for Director Redundancy Pay As a company director, navigating the complex landscape of director redundancy pay can be challenging. For a director to be eligible for redundancy pay, the director must have maintained uninterrupted employment with the company for a minimum of two years. Understanding your rights and entitlements, including understanding eligibility for…

  • Efficient ways to close my IR35 contractor company

    Efficient Ways To Close My IR35 Contractor Company Navigating the complex landscape of IR35 can be daunting for contractors operating through a limited company. To efficiently close an IR35 contractor company, inform HMRC of your closure intention, file your company accounts, close the business bank account, transfer assets out of business ownership, and use Form…

  • My Business Is Struggling with Energy Bills

    My Business Is Struggling with Energy Bills Are you struggling to keep up with your business energy bills? If so, you’re not alone. Many businesses face challenges in managing their energy costs, but the good news is that there are solutions. We explore the causes of high business energy bills, discuss practical ways to manage…

  • What Happens to My Pension in Liquidation?

    What Happens to My Pension in Liquidation? A company’s insolvency can be stressful and uncertain for its employees, especially because of the potential impact on their retirement funds. Understanding the ins and outs of pension schemes and what happens to my pension in liquidation is crucial to safeguarding your financial future. In company liquidation, pension…

  • Can I Buy Back Assets During or After a Liquidation?

    Can I Buy Back Assets During or After a Liquidation? Assets can be purchased during or after liquidation, including stock, client base, goodwill, premises, and even the company name. It’s important to note that a liquidator must manage such transactions to ensure a fair market value and maximum returns for creditors. This can benefit existing…

  • How Much Does It Cost to Liquidate a Limited Company?

    How Much Does It Cost to Liquidate a Limited Company? A small limited company with a small asset value costs around £2,500 to £6,000. The costs to liquidate a limited company can fluctuate depending on various factors. The costs can be daunting, especially when navigating the world of insolvency practitioners, legal fees, and unexpected expenses.…

  • Can I Be a Director Again After My Business Folds?

    Can I Be a Director Again After My Business Folds? It is entirely possible to be a company director again after your liquidated company folds. However, there are regulatory protections in place to safeguard creditors and other stakeholders, which you’ll need to navigate carefully. The key to bouncing back is to overcome the stigma associated…