A company director has received a suspended prison sentence after fraudulently securing two government-backed Covid Bounce Back Loans worth £100,000 and spending significant sums on gambling, cryptocurrency investments and personal...
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When a business becomes involved in litigation, the question of what happens to its debts can become even more complex. Even after a dispute has been resolved or a judgment given, the position of creditors and the obligations of directors are not...
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The insolvency statistics released for September show that of the 2,000 registered company insolvencies: There were 281 compulsory liquidations 1,578 creditors’ voluntary liquidations (CVLs) 124 administrations 17 company voluntary...
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The insolvency statistics released for August show that of the 2,048 registered company insolvencies: There were 311 compulsory liquidations 1600 creditors’ voluntary liquidations (CVLs) 121 administrations 16 company voluntary...
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Business owners and directors face challenges every day. Rising costs, supply problems, dips in demand and countless other pressures mean the journey is rarely smooth, and there always seems to be another hurdle to clear. When financial pressures...
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A London fraudster has been sentenced to prison after fraudulently claiming three government-backed Bounce Back Loans during the Covid-19 pandemic and using the funds for personal business ventures overseas. Eric Agyeman, 46, secured a total of...
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The insolvency statistics released for July show that of the 2,081 registered company insolvencies: There were 339 compulsory liquidations 1583 creditors’ voluntary liquidations (CVLs) 147 administrations 12 company voluntary...
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A former director of Scottish machinery business Balgownie Limited has been banned from acting as a company director for 11 years after deliberately under-declaring more than £1.5 million in VAT. David Smith, 61, who served as finance director,...
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Members’ voluntary liquidations (MVLs) have long been a popular route for directors looking to close a solvent company in a tax-efficient way. In recent years, however, shifts in capital gains tax (CGT) rates and changes to Business Asset Disposal...
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The insolvency statistics released for June show that of the 2,043 registered company insolvencies: There were 332 compulsory liquidations 1585 creditors’ voluntary liquidations (CVLs) 111 administrations 15 company voluntary...
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