MLSAdmin
-
Events company liquidation advice
Events company liquidation advice The events industry has faced unprecedented challenges in recent years, leaving many businesses struggling to survive. For some, liquidation may be the only option to navigate the complex financial landscape. In this blog post, we will explore the process of liquidating an events company, discuss alternative solutions, and examine the responsibilities…
-
I Can’t Pay VAT: What Are My Options?
I Can’t Pay VAT: What Are My Options? Businesses that are unable to pay VAT can approach Her Majesty’s Revenue and Customs (HMRC) to request a Time to Pay (TTP) arrangement. This enables the company to spread the repayment of its due taxes across instalments over a customary period of 12 months. Additionally, companies may…
-
My pub needs to go into liquidation
My pub needs to go into liquidation The pub industry is no stranger to challenges, from rising costs to a volatile market. Pub owners must navigate these hurdles while ensuring the survival and success of their businesses. Understanding liquidation options, such as Creditors’ Voluntary Liquidation (CVL) and Company Voluntary Arrangement (CVA), is crucial for pub…
-
What is the Insolvency Test for a Limited Company?
What is the Insolvency Test for a Limited Company? An insolvency test is a critical tool for determining your limited company’s financial health and whether it’s time to seek professional help. A corporate insolvency test is a method used to assess whether a company can meet its liabilities as they become due and whether the…
-
Submitting a DS01 Form to Strike Off Your Limited Company
Submitting a DS01 Form to Strike Off Your Limited Company Are you considering dissolving your limited company but unsure about the process? Submitting a DS01 form to strike off your limited company is an essential step in this process. Striking off a company from the Companies House register can be a complicated and time-consuming process.…
-
What is a Company County Court Judgment (CCJ)
What is a Company County Court Judgment (CCJ) A County Court Judgment (CCJ) is a formal legal directive issued by a county court against a business entity that has defaulted on a debt repayment. Understanding and addressing CCJs is crucial for any company that wishes to maintain its financial health and credibility. Now, let’s look…
-
What is a Private Company Limited by Guarantee?
What is a Private Company Limited by Guarantee? A private company limited by guarantee is a distinct legal structure for non-profit organisations providing members with limited personal liability. Private companies offers advantages such as increased credibility and protection, drawbacks include higher costs and public financial information. The formation process requires specific documents to be submitted…
-
Do I Need To Use An Insolvency Practitioner To Liquidate?
Do I Need To Use An Insolvency Practitioner To Liquidate? Whether or not you need to use an insolvency practitioner (IP) to liquidate your company depends on various factors. While engaging an insolvency practitioner for all forms of liquidation is not a legal requirement, doing so can often streamline the process and ensure compliance with…
-
What Is a Notice of Intention to Appoint Administrators?
What Is a Notice of Intention to Appoint Administrators? A notice of intention is implemented to inform relevant parties that a company intends to enter administration. This essential document allows a company to rescue its operations and explore viable alternatives. A company, its directors, or a floating charge holder (usually a bank) file a Notice…
-
Understanding Members Voluntary Liquidation
Members Voluntary Liquidation Closing a company can be a complex and daunting process. If your company is solvent, there is a tax-efficient and legally compliant way to wind it up. Members’ Voluntary Liquidation (MVL) is a formal process to dissolve solvent companies, providing tax benefits such as Capital Gains Tax and Business Asset Disposal Relief.…