Directors often put profits back into their company, but there comes a time when a director will want to take some money out. This could be for a range of reasons, but the question remains the same – how exactly do you take money out of a limited company? In this article, Clarke Bell will…
Read MoreFor company directors, efficiency is one of the most important priorities when considering winding up operations. An efficient procedure means more retained profits go to shareholders, making for a more comfortable retirement, or serving as a healthy injection of capital for a future venture. However, with several methods of closing a company available, it can…
Read MoreIt is the fate of most companies that they will be closed at some point. This could be for a wide range of reasons, from lack of profitability to the directors wanting a new project or to retire. For such companies, a voluntary liquidation or a voluntary strike-off will be the two main options for…
Read MoreFor struggling companies, regaining control over their finances is paramount. If their financial situation continues to deteriorate, insolvency is highly likely, which carries a range of negative consequences for the company and its directors. As such, any tool that can be used to help remedy the situation should be strongly considered. One such tool is…
Read MoreWhen liquidating an insolvent company, the funds raised from selling assets primarily go to meeting the needs of creditors. While simple enough, the process gets a bit more complicated when a company has a variety of creditors. Some must be paid before others, creating a debt hierarchy, so to speak. If you intend to liquidate…
Read More