As a director of a limited company, you should be remunerated accordingly for the work you do. You’ve taken the brave step to set up your own business and live without the security that comes with working as an employee,…
If you’re a Ltd company director whose business is struggling to pay its bills and staring down the barrel of an insolvency, you might be concerned that you could be made personally liable for your business’ debts. One of the…
If an employer enters into insolvency then it is understandably an extremely anxious and worrying time for the employees. Thankfully, there are special arrangements for employees who are dismissed as a result of the insolvency of their employer. The National…
Anyone looking to buy a failing company will have to tread carefully. The fact that your business has entered into administration or liquidation means there are severe financial problems that need to be resolved. There might be pressure from creditors…
A County Court Judgement against a limited company is essentially a court order, issued by a county court, that enforces the payment of a debt. If a creditor has taken reasonable steps to recover a debt, they may then apply for…
Business rescue is on the rise. Official Insolvency Service statistics for the third quarter of 2014 show a reduction in corporate insolvencies and an encouraging increase in business rescue procedures. What does this mean for your business? Well, if your…
What are the warning signs of insolvency? It’s important to know them because directors who continue to trade while insolvent risk fines, being made personally responsible for company debts, or even a potential disqualification from directorship, as a result. One…
In previous posts we have discussed the growing problem of late payments and the knock-on effect on cash-flow management in small and medium-sized enterprises. With the value of unpaid invoices in the UK currently in excess of £40bn, what, if…
The prompt payment code, explained. The problem of late payment has been widely publicised in the last few months, with an increasing number of small and medium-sized enterprises (SMEs) struggling to make ends meet. Despite government guidance that encourages small…
Here are some common business insolvency problems and potential options that may be applied as company rescue solutions. From finance to negotiating time to pay arrangements with creditors, this article will explore the options available to you. That said, if…
