What’s an MVL and why would I need to use one? Before deciding to close your company, you should speak to a licensed insolvency practitioner. They can assess your company’s financial position and make valuable suggestions. In this article, we’re answering the question, what is an MVL
Read more →What happens if you don’t pay bounce back loan? The first thing to remember if you believe you can’t pay back your bounce-back loan is not to panic. We support directors with expert advice. Depending on whether you took a bounce-back loan for a sole trader or
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GOVERNMENT EXTENDS BAN ON COMMERCIAL EVICTIONS! A commercial lease moratorium was extended by another 9 months yesterday meaning landlords can not evict tenants out of their premises until at least March 2022. A report suggests that almost £6 billion worth of unpaid rent has built up over
Read more →With Government Support Finishing Soon – What’s Your Plan? The end of the support doesn’t mean the end of your business! Various forms of support that have been available throughout the pandemic are soon coming to an end. Business rate relief, the furlough scheme, grants from the
Read more →Here is when you could be made personally liable in a liquidation If you’re a director who has spent their Bounce Back Loan on living costs then watch this video. Many ltd company directors slipped through the net of Government support and were not deemed eligible. This
Read more →What’s the difference between liquidation and bankruptcy? If you’re new to insolvency, we know that it can be a minefield. There’s lots to think about and it can often be a stressful time. In this blog, we’re telling you what’s the difference between liquidation and bankruptcy? Many
Read more →Stop putting it off If your company is struggling or you’re not sure what the future holds for your business then this one’s for you. A lot of the time, directors in this situation choose not to do anything, but we’re telling you to assess your situation
Read more →As soon as your company becomes insolvent or maybe in the future you must be aware that your responsibilities change as a director. You’re no longer working on behalf of your shareholder and your duties now lie with the creditors of your company. It’s critical that you
Read more →Closing Down Your Ltd Company What’s the cheapest way to close down your limited company? Today we are talking about Striking Off a Company. This is a simple and definitely the cheapest way to close your limited company, the best part is that you can do it
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The British Business Bank has appointed accountancy firm PriceWaterhouseCoopers to investigate possible cases of fraud with the Covid-19 business loan schemes. The loan programs were brought in to help support SME’s financially who have been impacted by the Covid-19 pandemic. A spokesperson from the British Business Bank
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