Budget 2018 – Impact on Insolvency Procedures

The Chancellor, Philip Hammond, announced in this year’s budget, that HM Revenue & Customs will once again become a preferential creditor in formal insolvency procedures. HM Revenue & Customs lost their preferential status in 2003 […]

Brexit Uncertainty Impact on UK Businesses

We need to end this uncertainty surrounding Brexit as quickly as possible, stop the short term profiteering and negotiate a deal that suits the UK and our former formal, but still to be, trade partners.

Well […]

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 […]

Support for Startup Company Directors – Starting Out and Coping with Subsequent Hiccups!

Regulatory compliance issues such as tax, health and safety and pension provision, place an ever increasing intrusion on directors’ time which can sometimes lead to the eye being taken off the ball on the […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]