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As the covid-19 pandemic continues to threaten and damage businesses across the UK, the government has announced its Bounce Back Loan Scheme to help companies survive during these difficult times. This follows the widely-criticised Coronavirus Business Interruption Loan Scheme, under which only a fraction of businesses successfully managed to secure funding. The Bounce Back Loan…

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17 November 2020 Voluntary Liquidation

Voluntary liquidation takes place when the directors and shareholders of a company decide to place it into liquidation, contrary to a Compulsory Liquidation where the company is forced to close. This process brings the company’s trading and operations to an end. As a formal insolvency process, voluntary liquidation is required to be carried out by…

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Whether you are seeking the services of an insolvency practitioner in order to close your company or are looking for help with turning an insolvent company around, choosing the best insolvency practitioner for the job is key. An insolvency practitioner will analyse your company’s affairs to determine the extent of the problem, in turn offering…

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10 November 2020 Business Insolvency

A company is deemed insolvent when it can’t afford to pay its debts, the monetary value of its assets are lower than the value of its liabilities or if a creditor services a formal payment demand for the amount of £750 or more that is unpaid for 3 weeks or longer. If a company meets…

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There are many reasons why a company might liquidate, whether it has been decided that it is time for the director to retire or whether the business is no longer sustainable and cannot pay its debts. If you have decided that it is time to liquidate your company it is hugely important to understand the…

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