MLSAdmin
I Want to Liquidate My Business: What is the Process?
I Want to Liquidate My Business: What is the Process? Navigating the complex world of business can be challenging, and at times, you may find yourself in a situation where the best course of action is to liquidate your company. Whether it’s due to financial hardship or a desire to move onto new ventures, the…
What Is the Timeline and Process of an MVL
What Is the Timeline and Process of an MVL Are you considering closing down your solvent company? You might be leaving money on the table if you haven’t looked into Members Voluntary Liquidation (MVL). MVL can provide significant tax savings and other benefits, making it an attractive option for many business owners. MVL offers tax…
Cannot Pay Corporation Tax Bill – What Options Do I Have?
Cannot Pay Corporation Tax Bill – What Options Do I Have? Understanding and managing corporation tax is essential for any business owner. This blog post offers valuable insights and practical solutions for navigating the complexities of corporation tax obligations. We’ll explore the fundamentals, consequences of non-payment, communicating with HMRC, and alternative solutions. By the end,…
What is an Insolvency Practitioner?
What is an Insolvency Practitioner? An Insolvency Practitioner (IP) is a licensed professional authorised to manage the insolvency of individuals, partnerships, or companies. Typically, IPs are accountants or insolvency specialists employed by accounting firms. Insolvency Practitioners provide expert advice and guidance to companies and individuals facing insolvency. They are regulated by various bodies to ensure…
What Happens to Employees When Going Into Liquidation?
What Happens to Employees When Going Into Liquidation? When a company faces insurmountable financial challenges and enters the liquidation process, it affects not only its directors, shareholders, and creditors but also significantly impacts its employees. Going into liquidation often leads to employee uncertainty, job losses, and concerns about employee rights and entitlements. Understanding what happens…
Who Decides When a Limited Company Is Insolvent?
Who Decides When a Limited Company Is Insolvent? Imagine being a director of a limited company, and suddenly you find yourself unable to pay your company’s debts. You’re not alone, as every year, countless businesses face the harsh reality of insolvency. But who decides when a limited company is insolvent, and what is the process…
How To Close A Limited Company Without Paying Tax?
How To Close A Limited Company Without Paying Tax? Closing a limited company is a complex process, but what if we told you there are ways how to close a limited company without paying taxes? Understanding the tax implications and utilising the right strategies makes it possible to dissolve your company tax-efficiently. To close a…
What Is Deemed Misuse of a Bounce Back Loan?
What Is Deemed Misuse of a Bounce Back Loan? The Bounce Back Loan Scheme has been a lifeline for many small businesses during the Covid-19 pandemic. However, misuse of these loans has become a significant issue, with far-reaching consequences for businesses and the economy. In this blog post, we’ll delve into “what is deemed misuse…
Liquidation vs Dissolution – The Key Differences
Liquidation vs Dissolution | The key Differences Liquidation is the process of closing a company and distributing its assets to creditors, while dissolution is the legal termination of a company’s existence. Companies may choose to dissolve for various reasons, such as insolvency or reaching the end of their purpose, and the process typically involves filing…
What is Company Administration?
What is Company Administration? Navigating the complexities of financial distress can be a daunting task for any business owner. Amidst the sea of insolvency options, “What is company administration?” emerges as a crucial question. Company administration is an effective way to keep your business afloat. Company administration is when an Insolvency Practitioner becomes an Administrator…