It’s been a tough few weeks with individuals having to file their Tax Returns and pay their dues, sometimes receiving a bill for more than anticipated. Getting help and advice early on could help with damage limitation if you are finding...
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Carillion was managing hundreds of public/private projects in the transport, health, education, defence and construction sectors. Being the second largest construction company in the UK, the unexpected collapse of Carillion shall give raise to...
Read more...Overtrading is when a business takes on work and tries to complete the orders but finds that fulfilment requires greater cash, or further resources than are available. The reasons could be many, and can be unforeseen, rather than just attributing...
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The 32-year-old man has been disqualified from running a food business for 7 years. He ran food businesses under the company name, Lime & Mocha Limited. Paul Savage from Bangor in Belfast, was running an eating establishment at 442 Woodstock...
Read more...In this video from the ICAEW, Fraser, the MD of a manufacturing business, takes us on his journey from recognising when the company was getting into difficulty and seeking a specialist adviser (a licensed ICAEW insolvency practitioner) through to...
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If you pay dividends out of your company when insufficient profit/distributable reserves exist, and/or the requirements of the Companies Act 2006 are not met, such dividends are deemed as unlawful/illegal/ultra-vires. Therefore, dividend payments...
Read more...When the decision is taken to liquidate, it is a reluctant acceptance that nothing more can be done. Employees face redundancy, quite often, without notice. To find oneself unemployed without any notice and, subsequently without an income, can be...
Read more...We recently reported how in our experience we have seen HMRC increasingly use its powers to pursue directors personally to recover revenue. Schedule 41 of the Finance Act allows HMRC to seek recovery of lost revenue personally from an officer of...
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In an insolvency case which chief Investigator Cheryl Lambert described as “one of the most bizarre cases” she had ever come across a director faked his own death to avoid disqualification. Bradley Trevor Silver, also known as Bradley Silva,...
Read more...Often, after a company has gone bust, it would appear to the outside word that the director of that company simply starts up again and trades using the same or similar name as the defunct company. The director does this by incorporating a phoenix...
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