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Corporation Tax is an expense all companies must budget for. It is a tax linked to a company’s profits and must be paid every twelve months as part of a company’s year-end accounts. However, although it is a regular expense, it is not uncommon for directors of struggling companies to fail to budget for their…

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For 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…

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In business, various situations can arise wherein removing directors from your company is necessary. This could be due to problems that occur when working with certain individuals, or reasons as simple as you yourself would like to move on from your current company. Whatever your reason, it pays to know the details of how you…

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Every company must pay corporation tax once every 12 months. Unlike income tax, corporation tax does not have a particular payment date. Instead, companies will submit their corporation tax according to their own accounting period. If payment is even a single day late, the company in question will suffer a penalty of £100. This penalty…

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When banks or private institutions lend money, they tend to require some kind of security for the debt. This is to mitigate risk when giving out a loan, as lenders can repossess collateral assets in the event the borrower cannot repay the debt. This is to be expected from most, if not all, borrowers, regardless…

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