What Does the 2023 Autumn Statement Mean for Struggling Company Directors? Company insolvencies are now at their highest level since 2009, with small-to-medium-sized enterprises the most at risk. 6028 insolvencies were recorded in the third quarter of 2023 alone. Many

What Is an Active Proposal to Strike Off? An 'Active Proposal to Strike Off' status on Companies House is a notice of a company’s impending dissolution. Once a company is struck off the Companies House register, it ceases to exist

What Happens to a Director in Liquidation? Company liquidation can be a very worrying time for everyone involved. Many directors panic they’ll be forced to pick up the company’s debts, or go on to face nasty legal action. While this

What Is Entrepreneurs' Relief? Entrepreneurs’ relief - now known as Business Asset Disposal Relief - is a type of tax relief available to UK business owners. It allows business owners who are liquidating their solvent company to cut the rate

I Can't Afford to Pay My Staff - What Can I Do? For every business owner, being unable to pay staff borders on the unthinkable. Our employees are the foundation of our business and trust us to repay their diligent

I Can't Pay Back My Bounce Back Loan - What Are My Options? While Bounce Back Loans once offered some much-needed respite for business owners, they’ve now become a source of worry for many. The turmoil of the pandemic and

Who Is Liable for Debts in a Limited Company? Limited companies fall under limited liability, meaning that any debts are the company's responsibility alone, and not that of its directors or shareholders. However, this is not a universal rule -

Voluntary V Compulsory Liquidation When a company becomes insolvent - and does not have the prospect of recovery - there are two ways the business can come to a close: voluntary or compulsory liquidation. Voluntary liquidation occurs when a director

What Is a Transaction at an Undervalue? When a director sells company assets - such as stock, equipment, or property - at a price below the accepted market value, it is considered a transaction at an undervalue. This can have

Company Insolvencies Have Risen 10% Compared to Last Year According to figures released by the Insolvency Service, company insolvencies for the third quarter of 2023 - the period between July and September - have risen 10% when compared to the