A director's guide to statutory demands: what they mean, the 21-day deadline, disputing a debt, options including Time to Pay, CVA, administration or liquidation, and mistakes that worsen the position.

An overdrawn director's loan account can reduce or cancel a director's redundancy claim in liquidation through mandatory set-off. Learn how netting works, what affects the balance, and how to prepare.

Directors in liquidation must hand over far more than annual accounts: accounting records, bank statements, invoices, contracts, tax and payroll files, emails, passwords and asset details, preserved honestly and completely.

This article explains HMRC's powers when a company has tax arrears, covering winding-up petitions, Time to Pay arrangements, and when directors should seek formal insolvency advice from Parker Walsh.

Directors may claim redundancy after liquidation only if they can prove genuine employment status. Evidence such as PAYE payslips, contracts and regular duties matters more than dividends or director title alone.

Ignoring a winding up petition risks compulsory liquidation, frozen bank accounts, public reputational damage, escalating creditor action and intense scrutiny of director conduct, with urgent professional advice essential to preserve options.

Directors can usually start a new company after liquidation, but must carefully follow rules on company names, asset transfers, personal guarantees and conduct. Professional advice from a licensed Insolvency Practitioner is strongly recommended before acting.

A CVL offers insolvent businesses a structured, voluntary closure route, relieving directors of creditor pressure, clarifying duties, protecting employees and ensuring assets are dealt with properly under licensed insolvency practitioner guidance.