Many businesses have been unable to pay the rent on their commercial premises due to closures and a cessation of normal business operations during the pandemic. New laws and a Code of Practice are now being introduced to resolve these commercial...
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HMRC paused many of its debt collection activities during the COVID-19 pandemic and has been delivering support packages like the Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. Now that these support measures have come...
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Sunderland based Derek Milliagn (40) was the sole director of DMNE Limited and also of Dockyard Sunderland when the Insolvency Service begun an investigation into his activities with DMNE. He had failed to deliver up any accounting records of DMNE...
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Despite business saving measures and support packages, it could be that, now that the support has come to an end, you need to face the reality of business insolvency. As an employer, it’s a very difficult time when your employees are looking to...
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We’ve looked at how to spot signs of financial distress in your business, as well as your duties as a director. Now, let’s look at what the options are for your business. Restructuring plan With this option, time and speed are...
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Becoming a company director gives you a position of authority over the management of your business as well as responsibility for its performance. It is imperative that you understand your duties and responsibilities; general duties as detailed in...
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As R3 launch their Directors’ guide to getting #Backtobusiness, we’ve also been thinking about the importance of reviewing your business and knowing when to seek professional advice. Having worked with financially distressed businesses for...
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Car dealer John Brian Capper from Shipley, West Yorkshire, has been sentenced to an 18-month community order, including 250 hours of unpaid work, after failing to provide books and records when his company was wound up due to alleged tax liabilities...
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Important insolvency legislation changes have been proposed which mean that Directors of dissolved companies, particularly those that have received government support through bounce back loans or CBILS, can be investigated by the...
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The beginning of May saw the first letters go out requesting repayment of Bounce Back Loans (BBLs) which were made available by the Government from March 2021. But what happens if you can’t afford to pay back the loan and if you are a...
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