Insolvency Articles - Archives

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Company Closure
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Insolvency
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HMRC Obligations for Contractors and consultant companies

In recent years there has been a surge in one-person limited companies and a subsequent fall in sole traders as more and more people wake...

Consultant Dividends and the Potential Problems

When taking money out of a limited company, it’s completely understandable that consultants or owner directors will want to do so in the most tax-efficient...

What Can I do about an Accelerated Payment Notice?

The Accelerated Payment Notice (APN) was introduced in 2014 as a method of recovering more than £2 billion worth of unpaid tax and National Insurance...

Employing Illegal Workers: Investigations and Penalties

HMRC is adept at tracking down and penalising companies employing illegal workers. The Insolvency Service, which reports on the latest company directors to be disqualified...

Why HMRC Problems Shouldn’t be Ignored When Your Company is Insolvent

When a company is insolvent and unable to pay its bills, the temptation is to pay the creditors who shout the loudest. If you have...

Kids Company Compulsory Liquidation Highlights Importance of Financial Reserves

One of the biggest causes of company failure in times of economic recovery are organisations that overstretch themselves to capitalise on a reversal of their...

Problems with Dividend Payments for Directors

As a business advisor and trouble-shooter to small medium and large companies for over 36 years the most frequently quoted troublesome issue for directors is...

Saving a Struggling Business

Acting quickly at the first sign of financial distress is essential when attempting to turn around your struggling business. The earlier you act, the more...

Should You Take a Dividend as a Director of a Limited Company?

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...

Can Directors Be Held Personally Liable For Business Debts?

If you’re a ltd company director whose business is in financial difficulty, you might be concerned that you could be made personally liable for your...

How to Close Down a Limited Company

Forming a company is a simple enough process and one you can complete in just a couple of hours. However, closing or ‘dissolving’ a company...

What are Employee Rights When a Company is Insolvent?

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...