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The decision to close a business is never an easy one to make. The reasons for doing so are plentiful, with some being worse than others. Directors may choose to close their company for the sake of retirement, as a response to a decline in profitability, or because their companies are buckling under the weight of…

The U.K. government introduced Bounce Back Loans as part of the Bounce Back Loan Scheme. These loans came as a response to the economic impact of the Coronavirus pandemic, and aimed to support small and medium companies through the worst of it, to varying levels of success. However, although the government guaranteed Bounce Back Loans,…

During the height of the Coronavirus pandemic, the U.K. government introduced Bounce Back Loans as a means to keep companies afloat. These loans gave struggling companies a much-needed injection of capital, allowing them to purchase stock, maintain key equipment, and keep employees on the payroll. In theory, this would ensure that companies hit particularly hard…

For many directors, the decision to close their company will be considered at one point or another. This could be for a number of reasons – directors may want to retire or take up a PAYE-role; or the company might have debts that it cannot pay.  Whatever the reason, every director will want to close…

Closing down a company is something most directors will need to consider at one point or another. This could be for reasons of financial distress, such as in cases of insolvency, but this is not always the reason for closing. Oftentimes, directors will consider closing their company to pursue other ventures, or to retire comfortably.…