Posted By: Bretts Business Recovery Ltd on 19th December 2024
When closing a limited company, directors must choose between strike-off and liquidation. Understanding the key differences between these options is crucial for making an informed decision and avoiding any possible complications. Determining Your...
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Posted By: Bretts Business Recovery Ltd on 28th October 2024
In a recent case highlighting the consequences of employing unauthorised workers, a restaurant director was given a six-year ban from company leadership. At an establishment in West Wickham, Croydon, two Bangladeshi nationals were found working...
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Posted By: Bretts Business Recovery Ltd on 12th September 2024
In a reminder of the consequences of misusing pandemic support funds, Richard Oliver, former director of Exact Data Trading Co. Ltd, has been banned for 15 years - the maximum period allowed under the law. This severe penalty comes after Oliver...
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Posted By: Bretts Business Recovery Ltd on 3rd July 2024
The director of a fruit and vegetable retailer, who improperly invested more than half of a Covid Bounce Back loan on the stock market instead of using it for his business, has been disqualified and ordered to repay the money. Emra Kayam, 35,...
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Posted By: Bretts Business Recovery Ltd on 3rd July 2024
When a business fails a director’s duties continue. Directors have several responsibilities and potential liabilities they must fulfil and these cannot be avoided by entering into insolvency or liquidation – even by resigning. Generally,...
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Posted By: Bretts Business Recovery Ltd on 30th May 2024
The road to success for Small and Medium Enterprises (SMEs) in the UK isn't always paved with gold. It's often riddled with financial potholes that can derail even the most promising venture if not detected early. With a new tax year underway,...
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Posted By: Bretts Business Recovery Ltd on 26th April 2024
The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
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Posted By: Bretts Business Recovery Ltd on 26th April 2024
An Individual Voluntary Arrangement (IVA) provides individuals with protection from legal action while trying to settle debts. It is a good option for those wanting to repay debts, or an agreed percentage thereof, over a set period of time and avoid...
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Posted By: Bretts Business Recovery Ltd on 26th April 2024
One way to deal with personal debts is to apply for a Debt Relief Order (DRO) which are not particularly well-known but can offer a helpful solution for those with relatively low levels of debt and few personally-owned assets. As always, seek...
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