HMRC lost their preferential status in insolvency proceedings in 2003. Between then and now they had to sit in line with all other unsecured creditors. The removal of their preferential status has undoubtedly led to other unsecured creditors...
Read more...Insolvency Practitioner required for established Company based in Kent. Role Responsibilities: Business Development, building your own network of referral partners being proactive in moving the company forward. Client facing able to give...
Read more...Lack of clear objectives Successful organisations have clearly focused and communicated objectives that enable everyone in the organisation to pull in the same direction. Poor business planning Business planning should cover aspects such as...
Read more...The short answer is “No”, but the long answer is “Yes, it is possible but care needs to be taken to follow the rules or you may face criminal proceedings and become personally liable for the new company’s liabilities”. S.216 of the...
Read more...HMRC is warning people not to be caught out by bogus emails pretending to offer customers a tax rebate after seeing a surge of almost 50pc in consumers reporting being targeted by these "phishing" scams. Emails sent as part of the scam often begin...
Read more...BANKRUPTCY INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA) Advice Free from Bretts Business Recovery Free from Bretts Business Recovery Bank Account Frozen initially and likely to lose if overdrawn May be retained provided...
Read more...Individual Voluntary Arrangement (“IVA”) An alternative to Bankruptcy is an Individual Voluntary Arrangement (IVA) which is a legally binding agreement between a debtor and his/her creditors whereby the debtor repays all or part of their debt...
Read more...Findings from R3’s latest ‘zombie companies’ survey (August 2014), show that the number of companies just paying the interest on their debts has increased from 103,000 in November 2013 to 154,000 in August 2014. This is the highest number of...
Read more...Zombie companies are businesses that, although generating cash, are unable to attract enough investment to start paying off their debts. After covering running costs, fixed costs (wages, rates, rent) they only have enough funds left to pay off the...
Read more...The last people who may become aware of the closure of a company are quite often the employees, the very people who have been tirelessly working to keep things moving.Employees, often living hand to mouth, suddenly have no income. This can have...
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