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A director’s loan account is a company’s record of the money owed to, or owed by, a company director. Usually, a director’s loan account is a method by which a director can take money out of their business in a way that isn’t classified as their salary, a dividend or an expense. However, it can…

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8 October 2021 MVL's

When a director chooses to liquidate their company through a Members’ Voluntary Liquidation (MVL), there are certain costs that are involved in the process. One of the costs involved in the MVL process is the fee that must be paid to the liquidator, for handling the appointment and carrying out the liquidation. There are also…

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5 October 2021 News & General

When setting up a limited company, there are several duties you must be aware of as a company director. After all, a limited company is a separate legal entity from its directors. This means that there is a number of rules and duties the director must follow as outlined by The Companies Act 2006. If…

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29 September 2021 Business Insolvency

Creditors who are owed money by a company and have had several repayment demands gone unfulfilled can apply for a County Court Judgement against the limited company as a means of recovering the debt. When a limited company fails to pay a County Court Judgement, the creditor then has the right to gain assistance from…

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A limited liability partnership (LLP) is a type of business structure that differs from other types of business partnerships, including the limited company structure. An LLP is regulated by several pieces of legislation which includes the Limited Liability Partnership Regulation 2001. To help you understand more about the limited liability partnership, Clarke Bell has put…

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