Briefing Note Entrepreneurs’ Relief – Budget March 2020

As you are aware, the Chancellor will be delivering his first post Brexit budget on 11 March 2020. We understand from various discussions that we have had recently with reasonably well informed individuals that there is the very real possibility that the Government will look to reduce the limit for Entrepreneurs’ Relief from the current […]

Services for Accountants

When a business encounters financial problems it is often the accountant that is the first port of call, or it may be the accountant or bookkeeper that realises that a problem is developing. As insolvency practitioners for accountants, who will often need our services to support their clients when a serious financial problem arises. One […]

Help – My Company is Struggling to Pay Suppliers

One of the most obvious signs that your company has, or is about to face a cash flow problem is when your sales income is insufficient to cover your operating costs. An obvious statement, but a position that most companies find themselves in by not planning ahead and by not regularly monitoring the company’s finances. […]

What is Insolvency?

Let’s get the technical stuff out of the way first and then look at the practical implications and issues affecting insolvent companies and its directors. The technical definition of insolvency is “the inability to discharge your liabilities as and when they fall due for payment”. That applies to both individuals, partnerships and limited companies. The […]

Dealing with Pressure from Creditors

Undoubtedly, at some time, most companies will experience some kind of financial problem that will lead to directors experiencing stress! How you deal with those problems determines the future of your business. Initially the problems with creditors start once your own cash flow prevents you from making the payments that the creditor expects – this […]

Insolvency Services – what do Insolvency Practitioners do?

To some, the work of an Insolvency Practitioner is clouded in mystery. In this brief article we’ve attempted to highlight exactly what Insolvency Practitioners do, how they get paid and what they charge. Insolvency services provided by an insolvency practitioner are generally quite varied and will usually cover all aspects of financial restructuring and formal […]

Placing a company into Administration

Directors running limited companies that have financial difficulties are usually more than sufficiently stressed out, without the worry of having to learn all about the Administration process. Although fairly complex, we have set out below a summary of the key issues that we are regularly asked together with our reasonably simplified explanations. What is the […]

Questions Frequently Asked by Company Directors

Are directors responsible for the company’s debts? The simple answer is – NO. The only time that a director will become liable for the company’s debts is where the director has given the creditor a personal guarantee in relation to that debt and that creditor receives less than 100p in the pound from the insolvency. […]

Important Changes to Tax Legislation Regarding Entrepreneurs’ Relief..

In yet another attempt by the Government to increase its revenues, the latest scheme being promoted is a change in tax rules concerning the availability of Entrepreneurs’ relief, which many tax experts believe will be effective from 6 April 2016. The trend of tackling tax avoidance schemes seems to be a continuing theme with new […]