Taking money out of a company must be done correctly to avoid falling afoul of the law, even if mistakes are made accidentally. Whether you intend to withdraw some money from an operational company, or wind it up and realise the retained profits, you need to know which laws apply and how they affect you…
Read MoreDirectors of insolvent companies have a few options at their disposal for dealing with debt. One method is voluntary liquidation, which allows directors an efficient method of winding up their company and paying back outstanding creditors. However, liquidation marks an end for the company in question, resulting in it being removed from the Companies House…
Read MoreClosing 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.…
Read MoreInsolvency is a problem faced by many companies. This isn’t always due to mismanagement; in fact, this is often not the case. Changes in a market, or even a local economy, plus the reluctance of directors to wind up their companies when they face financial difficulty, is a common scenario. However, directors in such a…
Read MoreIf you’ve taken the leap to create a small business out of your passion or bring a great idea to life, you might wonder whether taking a business loan is a good decision. On the one hand, the cash injection could be the spark to make your company a success, allowing you to purchase vital…
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