Guides

Help with Insolvent Frozen Bank Account

One tool at a creditor’s disposal if they are unable to recover a debt worth more than £750 is to issue a winding up petition against your company. The more creditors that remain unpaid, the greater the likelihood of a…

How to Legally Take Money out of a Limited Company

The advice in this article is not intended to replace tax advice from accountants but is intended to provide an alternative view from a turnaround consultant. I spend a significant part of my time rescuing directors from unpleasant situations involving…

How to Reduce Company Insolvency Risk

Running a small or medium-sized business is already difficult enough for business owners without a customer’s cash-flow increasing your company insolvency risk. Late Invoices trigger Insolvency Having key customers that are struggling financially is one of the leading causes of…

Insolvent Company Options Part 2

In the first part of our guide, we took a look at how to identify whether the insolvent company is insolvent, and introduce some of the options that can help to keep your business trading. This included reaching an informal…

Insolvent Company Options Part 1

If you have an insolvent company and the business is struggling financially then it is your job, as a company director or owner, to understand your options and the potential consequences. There is plenty of professional advice available from sources…

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