One of the benefits of running a limited company is that Directors can take the majority of their remuneration as dividends, which is typically a more tax efficient method than taking a PAYE salary. The timing of dividend payments must be...
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Two company directors who provided prospective shareholders with false information to secure millions in investments have been banned for a total of 17 years. Lee Anthony Skinner has been banned for 10 years, while Karen Ferreira has...
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Government (belatedly) reintroduces suspension of wrongful trading rules The wrongful trading suspension was reactivated by the UK Government last week. What does this mean? In insolvency, directors that side-step their legal and fiduciary...
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Finance Act 2020 gives HMRC powers to make directors and others connected to a company, jointly and severally liable for the company's tax liabilities if the company becomes insolvent. It’s likely that many businesses will struggle to recover to...
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In insolvency, directors that side-step their legal and fiduciary responsibilities may be disqualified from being able to act as a director for a period of time. It is imperative that during difficult trading conditions directors remain vigilant...
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Director of Bishops Stortford car dealership banned after entering into illegitimate contracts with customers breaching arrangements with finance providers 123 Motors Ltd was incorporated in July 2015 and traded as car dealership from premises in...
Read more...Boss of holiday parks firm has been banned for 14 years after investors were owed more than £19 million in failed investment scheme. Harlow-based Simon Moir (58) has been disqualified from acting as a director for 14 years. From 22 September, the...
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Bankruptcy is a frightening prospect with lasting implications so it’s no wonder that you may be reluctant to consider it as an option if you’re struggling to pay debts. If your circumstances allow, a Debt Relief Order may prove to be a...
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Business insolvency processes - the key points, pros and cons listed in this handy one-page table Download here (pdf): Insolvency comparison - for businesses Or, for a more in-depth overview on each of these insolvency procedures, scroll...
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An alternative to Bankruptcy, an Individual Voluntary Arrangement (IVA) is a formal and legally binding agreement between you (as a debtor) and your unsecured creditors (people you owe money to) in which you agree to pay back all or part of your...
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