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Recent years have not been kind to small businesses. The Covid-19 pandemic has had a significant impact not only on Britain’s economy, but on the global economy at large. Coupled with this, other economic and political factors have had their effect. The economic uncertainty caused by Brexit has pulled the rug from underneath many companies,…

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A compulsory strike-off is often a stressful experience for business owners. There is a lot to be done, and precious little time in which to do it. Taking too long can land business owners in hot water. Leading to the forced closing of a company and potential penalties for directors. To ensure the process goes…

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In September 2021, the Government announced a 1.25% increase in National Insurance contributions. This National Insurance rise was slated for April 2022, being implemented alongside the Health and Social Care Levy. This will affect businesses during the 2022-23 tax year. Due to this levy, employers will be required to make larger National Insurance contributions on…

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A common fate for many limited companies is to close. Contrary to popular belief, this isn’t always down to financial hardship. While that certainly is one reason for a limited company to close, there are many others. Retirement and transition to different roles being noteworthy examples. Though this is a common occurrence, one largely understood…

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When closing a company, its financial position will affect the route to closure chosen by its director(s). There are many reasons why directors would choose to close their company and many scenarios which can play out during the liquidation process. A key thing to be aware of is that a Licensed Insolvency Practitioner must be…

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