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5 September 2023 Business Insolvency

Directors may, at some point, consider using a liquidation process for their company. This could be for a number of reasons, including: These scenarios are relatively common. However, many parts of the liquidation process are not widely known, for example, the various rights of both creditors and directors involved in the liquidation. Directors should be…

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1 September 2023 Business Insolvency

Managing an insolvent company is not a trivial task. Finding additional sources of revenue while stymying the loss of capital is difficult enough, but this is often made worse when creditors start applying pressure. Not only will this increase the stress directors have to bear, but it could constitute additional outgoings for the company, or…

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29 August 2023 Business Insolvency

The past 2-3 years have been difficult and challenging time for thousands of businesses across the UK due to the pandemic and subsequent lockdowns and now the cost of living crisis. If your company has struggled financially and is now insolvent, meaning it can no longer pay its bills or debts, then it’s time to…

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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…

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21 August 2023 Business Insolvency

The cost to close a limited company depends on whether the company is solvent or insolvent. If you’re insolvent and need to close a company that has debts, the cost is £1,995 plus VAT. If your company is solvent and you want to close it efficiently, it can be considerably cheaper, at a cost of…

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