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.
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.
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.
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This article examines director liability after resignation. While day-to-day responsibilities cease immediately, liabilities for past actions persist, including insolvency-related debts, fraudulent conduct, director's loans, personal guarantees, and statutory obligations.
