If you or your client’s business is facing financial distress it can be a stressful and worrying time for all involved. It can also be daunting to be presented with an overload of information and options on what to do next. Perhaps a formal...
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We’ve looked at how to spot signs of financial distress in your business, as well as your duties as a director. Now, let’s look at what the options are for your business. Restructuring plan With this option, time and speed are...
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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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Are you a contractor with a Personal Service Company (PSC)? Does the IR35 Reform affect you? If so, it may prove advantageous to change your employment status and liquidate your company using an MVL. The IR35 off-payroll reforms came into...
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If you’re looking to retire and take reserves out of your company, a Members Voluntary Liquidation may be the best strategy Economic downturns are often seen as a time of opportunity for those willing to face the challenge head on. Contemporary...
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Budget 2020 confirmed a number of measures affecting small business including: The date from which HMRC will regain its secondary preferential creditor status for insolvencies has been extended to 1 December 2020 (as opposed to 6 April 2020)....
Read more...What is a Members Voluntary Liquidation? A Members Voluntary Liquidation (MVL) is the winding up of a solvent company. A Members’ Voluntary Liquidation is a shareholder-led process and tax efficient way to close down a solvent company. It’s...
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