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What are Corporation Tax Late Filing Penalties? Are you a business owner concerned about the penalties associated with late filing of corporation tax? You’re not alone. Navigating the world of taxes can be confusing, and the consequences of missing deadlines or underpaying taxes can be costly. Late filing of corporation tax returns can incur initial…

What Is Invoice Discounting Imagine having instant access to funds tied up in your unpaid invoices, boosting your cash flow, and giving you the flexibility to grow your business. Invoice discounting is a financial tool that provides businesses with immediate access to funds by borrowing money against unpaid invoices. It offers control over credit management…

Pre-Pack Administration Process and Procedure When facing financial distress, companies often seek solutions to alleviate their difficulties and preserve their business. One such solution is the pre-pack administration process and procedure, a powerful yet controversial insolvency process that involves the sale of a company’s assets to a predetermined buyer before appointing an administrator. Pre-pack administration…

What is a Special Administration for a Limited Company Special administration is a structured insolvency process designed for businesses engaged in providing statutory or public services, supplying goods, or managing client funds. We’ll delve into the world of special administration, exploring its purpose, how it differs from ordinary administration, and its varying implementations across industries.…

Who are the Best Invoice Factoring Finance Companies in the UK For many small businesses, cash flow can be a significant challenge. Invoice factoring is a popular financial solution that allows businesses to unlock the funds tied up in their unpaid invoices. This can provide essential working capital for growth and expansion. In this blog…

What is Insolvent Trading and Wrongful Trading in Business Have you ever wondered, “What is insolvent trading and wrongful trading in business?” Delving into the world of corporate finance can be overwhelming, but understanding these concepts is crucial for company directors and stakeholders alike. Insolvent trading is a civil offense where a company continues to…

Who Pays for Staff Redundancy When a Business Goes Into Liquidation? When a business goes into liquidation, it’s not just the company’s assets and finances that are at stake. The livelihood of its employees is also on the line. Certain staff redundancy payments, including redundancy, statutory notice, and unpaid wages, can be recovered from the…

What to Do When a Customer Will Not Pay Your Invoices You can file a court claim for the money you’re owed (commonly referred to as a ‘money claim’ or ‘small claim’), including any interest and compensation due. Your customer may choose to pay soon after receiving your claim to avoid a court order against…

How Do I Appoint an Insolvency Practitioner? In the world of business, financial distress is an unfortunate reality that many companies may face at some point, this is where an insolvency practitioner’s expertise becomes invaluable. You can appoint an insolvency practitioner by a meeting of creditors or through the courts. In this guide, we will…

What is an Insolvency Lawyer? An insolvency lawyer offers advice to businesses that are at risk of insolvency and supports insolvency practitioners in carrying out statutory insolvency procedures. They also assist individuals dealing with bankruptcy. These professionals navigate the intricacies of financial distress, offering guidance provide advice and solutions tailored to each unique situation. Understanding…