Billy has taken a £50k BBL (he was only entitled to £22k), spent it on a BTL, and now has been advised that for £5k this will all get swept under the carpet. His comment was “Chris everyone I know has done this” Billy, there is not
Read more →Bounce Back Loan repayments are now due but many businesses have not bounced back Register for our free Webinar on Tuesday 12th October at 12 midday to learn all your options. Stop walking blindly into insolvency procedures! We will be covering exactly how you can close a
Read more →Winding Up Petitions – What are they and why you need to understand them For the last 18 months, very few winding up petitions have been issued due to a moratorium in place by the government, business could be forgiven for forgetting what they were. As of
Read more →Want to know how you can get rid of a company with a bounce back loan for £10 by striking the company off? I knew that would get your attention. You can’t! I can’t believe this advice is still being given to people – it could seriously
Read more →When to take insolvency advice There is a test for insolvency that all directors need to know. The corporate insolvency test Can you pay your debts when they fall due? Are the companies liabilities (including any pending claims) more than the company assets? Has your business been
Read more →Businesses Life Support Machine Turned Off Furlough ends Wrong Trading Bailiff Action Winding Up Petitions Are Back At the end of this months, all the government protections that were put in place to stop an avalanche of insolvencies are going to finish. The question you need to
Read more →If you spent your bounce back loan on living costs, watch this. The governing body R3 has recently done a webinar titled: ‘Bounce Back Loans – An essential Guide for an insolvency practitioner‘ One of the questions that arose was: ‘What is the view of the insolvency
Read more →Can I be a director again if I liquidate a business? The simple answer is YES. There is a myth that if you close a ltd company down then you can’t be a director of another company. Unless you have been made bankrupt or disqualified from being
Read more →My business can’t survive when furlough ends – what are my options? At the end of this month, the furlough scheme ends which is going to leave many business owners with some tough decisions to make around staff and the future of their company. If you are
Read more →I’ve woken up to a HMRC bailiff at my door Today’s the start of September and it’s also when HMRC has stated that if businesses are unwilling to contact them about HMRC arrears they could restart the process of debt enforcement. HMRC enforcement officers are back making
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