In this article, we will delve into the different scenarios that may lead to the closure of a limited company and examine the implications on directors, focusing on personal liability and director's loans.
Is it possible to liquidate a limited company and open a new one? Yes, it is, but it's essential to consider legal, financial, and practical implications.
In the wake of economic uncertainties, the UK government introduced Bounce Back Loans (BBLs) as a lifeline for struggling businesses during the COVID-19 pandemic. However, companies are now facing difficulties in repaying the bounce back loans.
In the world of business, it is highly likely that your company will at some point pay tax; be it VAT, PAYE/NI or Corporation Tax. Businesses can find themselves juggling an array of financial responsibilities and it can become overwhelming, especially if the business is unable to meet its tax obligations.
Facing redundancy can be a challenging and uncertain time, but it's crucial to be aware of your rights as an employee during this process. Knowing how to make a claim and understanding what you're entitled to can help ease the financial burden. We've put together a comprehensive guide to redundancy and your rights.
It is important to understand the roles and responsibilities of being a director when your company is entering in to liquidation. In this article, we look at the dos and don'ts of your responsibilties.
In the wake of the economic turmoil caused by the COVID-19 pandemic, the UK government rolled out a lifeline for struggling businesses in the form of Bounce Back Loans (BBL). While this financial support was vital for numerous businesses, unfortunately it also created an opportunity for fraud. This article sheds light on the various types of fraud associated with BBL, exposing the challenges faced by authorities in safeguarding public funds.
Closing a limited company is a decision often driven by various circumstances, such as financial challenges, changes in business direction, or retirement. Regardless of the reasons behind the closure, understanding the most cost-effective way to wind up your limited company is essential. In this article, we will explore several strategies and avenues to help you close your company while minimising the cost.
Terms like "liquidation" and "bankruptcy" often find themselves intertwined, and they can sometimes be used interchangeably and lead to confusion. However, it's crucial to recognise that these are two different insolvency procedures for two separate legal entities with unique implications. In this article, we will delve into the differences between liquidation and bankruptcy.
