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Blog

  • How to Cease Trading a Limited Company

    How to Cease Trading a Limited Company Deciding to cease trading is a complex and often emotional decision for business owners. However, understanding the reasons, options, and consequences associated with closing down a limited company is crucial to ensure a smooth transition. Directors and shareholders must agree to cease a trading limited company. The method…

  • What is a Phoenix Company?

    What is a Phoenix Company? A Phoenix Company is a business bought out of a formal insolvency process like administration or liquidation, often by the existing directors. Phoenix Company symbolises a Phoenix rising from the ashes, and strict rules regulate this process. Pre-pack administration, regulated to protect creditors’ and directors’ obligations, can offer the most…

  • The Cheapest Way to Liquidate a Company

    The Cheapest Way to Liquidate a Company Liquidation can be overwhelming, especially when faced with tough decisions that impact the future of your business and its stakeholders. We have compiled a comprehensive guide that will equip you with the knowledge and tools to confidently choose the cheapest way to liquidate a company and find the…

  • Can’t Pay Company Debt?

    Can’t Pay Company Debt? Are you concerned about the potential implications for your business and personal finances when you can’t pay company debt? This guide will explain the vital steps and options available to navigate the treacherous waters of company debt. Understanding your company’s financial situation, seeking professional advice, and exploring debt management solutions can…

  • Company Director Redundancy

    Company Director Redundancy Company directors may be eligible for redundancy payments when their limited company is insolvent and has been operating for two years. Eligibility criteria include meeting age and service requirements and going through liquidation. Claims must include proof of employment status, with claims needing to be made within the specified time frames in…

  • Can I Liquidate My Company and Start Again?

    Can I Liquidate My Company and Start Again? You can restart your company after liquidation using a licensed insolvency practitioner to ensure it is done correctly. You should be cautious when naming your new company similar to the liquidated one, which could lead to legal problems. This practice, often called “passing off,” can make creditors…

  • What Happens if My Business Receives a CCJ

    What Happens if My Business Receives a CCJ Receiving a County Court Judgment (CCJ) can be a daunting experience for any business. A CCJ requires the company to pay the outstanding debt within a set timeframe or face further legal action. One immediate and tangible impact of a CCJ on a limited company is its…

  • 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…

  • 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…