The insolvency statistics released for January show that of the 1,744 registered company insolvencies: There were 256 compulsory liquidations 1,323 creditors’ voluntary liquidations (CVLs) 151 administrations 13 company voluntary...
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An Oxfordshire landscaping company director who ignored a previous ban and left around £300,000 in unpaid tax across two businesses has been disqualified for 12 years. Neil Aldridge was first disqualified in 2019 for three and a half years after...
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For many small and medium-sized businesses, restructuring options can feel limited. When cash flow tightens and creditor pressure builds, directors often assume the only realistic routes are a CVA, administration or liquidation. However, there is...
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A man who abused the government’s Covid support schemes by fraudulently securing multiple Bounce Back Loans for his mobile phone businesses has been ordered to repay almost £200,000 following court proceedings. Zahid Afzal, 37, previously...
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Directors’ Loan Accounts (DLAs) are common in owner-managed businesses and can be a practical way for directors to move money between themselves and their company. Used carefully, they offer short-term flexibility. Used casually, they can create...
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The insolvency statistics released for December show that of the 1,671 registered company insolvencies: There were 245 compulsory liquidations 1,305 creditors’ voluntary liquidations (CVLs) 106 administrations 15 company voluntary...
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The insolvency statistics released for October show that of the 1,866 registered company insolvencies: There were 250 compulsory liquidations 1,461 creditors’ voluntary liquidations (CVLs) 136 administrations 18 company voluntary...
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A company director who misused business funds to clear the finance on a high-value Audi and sold plant machinery that was still subject to hire purchase agreements has been ordered to repay more than £190,000. If he fails to do so within three...
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HMRC has become increasingly assertive in its approach to recovering unpaid tax, and one area where we are seeing more activity is the use of Personal Liability Notices (PLNs). These notices allow HMRC to transfer certain company tax debts to...
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The insolvency statistics released for October show that of the 2,029 registered company insolvencies: There were 301 compulsory liquidations 1,592 creditors’ voluntary liquidations (CVLs) 119 administrations 17 company voluntary...
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