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What is an IVA and how does it work?
A creditors' voluntary liquidation (CVL) is a voluntary process initially instigated by a company’s directors.
These days I’m constantly being asked “You must be busy?”
I reply “Not as busy as you might think!”
A members’ voluntary liquidation (MVL) is the most tax efficient way of closing a company and the shareholders realising the assets when the company has ceased to trade.
“My company has just received a £50,000 Bounce Back Loan. My 5 staff are furloughed. There aren’t any assets or liabilities (other than £25,000 due as directors dividend/directors’ loan account). I’m not sure when or whether I’m going to start trading again. Can I draw the £25,000 that the company owes me?”
An insolvency practitioner is a licensed professional who can provide essential guidance on matters of both company and individual insolvency.
I don’t know about you, but I still wake up most mornings thinking about that nasty nightmare I’ve just had
If there is one thing about corporate insolvency that every professional advisor needs to know, it is a rough understanding of section 216 of the Insolvency Act 1986.
I was recently invited into a board meeting by the company accountant...
Stanley called me last week “I think I’m going to need your help again, Tim” he started. Griffin & King had liquidated a company of his a few years ago.
Mike, a solicitor I've known for around 20 years called me a couple of months ago...
Would you go to an unqualified physician for a surgical operation? No.
We come across this time and time and time again. Directors or business people not seeking adequate guidance when they are making a major decision with their business, or seeking business debt solutions.
How many times have I heard that when discussing business debt advice? More than ever I could remember!
Recently Tina called me to arrange a meeting to discuss the financial problems with her company...