Finance Act 2020 gives HMRC powers to make directors and others connected to a company, jointly and severally liable for the company's tax liabilities if the company becomes insolvent. It’s likely that many businesses will struggle to recover to...
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Latest company and individual insolvency statistics remain low. The latest monthly release of insolvency statistics for England and Wales was published on 14 October 2020. * Overall numbers of company and individual insolvencies remained low in...
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In insolvency, directors that side-step their legal and fiduciary responsibilities may be disqualified from being able to act as a director for a period of time. It is imperative that during difficult trading conditions directors remain vigilant...
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Director of Bishops Stortford car dealership banned after entering into illegitimate contracts with customers breaching arrangements with finance providers 123 Motors Ltd was incorporated in July 2015 and traded as car dealership from premises in...
Read more...Boss of holiday parks firm has been banned for 14 years after investors were owed more than £19 million in failed investment scheme. Harlow-based Simon Moir (58) has been disqualified from acting as a director for 14 years. From 22 September, the...
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A legally binding agreement between a company (“CVA”), partnership (“PVA”) or an individual (“IVA”) and their unsecured creditors to repay all or part of their debt over a fixed period of time. Negotiating more time to pay your debts...
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Bankruptcy is a frightening prospect with lasting implications so it’s no wonder that you may be reluctant to consider it as an option if you’re struggling to pay debts. If your circumstances allow, a Debt Relief Order may prove to be a...
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Latest company and individual insolvency statistics remain low overall following July's spike in administrations. The latest monthly release of insolvency statistics for England and Wales was published on 15 September 2020. * Overall numbers of...
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Business insolvency processes - the key points, pros and cons listed in this handy one-page table Download here (pdf): Insolvency comparison - for businesses Or, for a more in-depth overview on each of these insolvency procedures, scroll...
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An alternative to Bankruptcy, an Individual Voluntary Arrangement (IVA) is a formal and legally binding agreement between you (as a debtor) and your unsecured creditors (people you owe money to) in which you agree to pay back all or part of your...
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