Company strike off has been suspended – what now?
What happens after suspended company strike off application? If your application to strike off is paused, it indicates a creditor has opposed dissolving your business. Consequently, your company will stay active on the Companies House register. Dissolution only occurs after a new application faces no objections or you initiate liquidation proceedings. What can I […]
Company Director Disqualification
Understanding company director disqualification and misconduct A director of a company faces disqualification if they neglect their legal directorial duties and the company goes insolvent, entering a formal liquidation process. During liquidation, whether it’s a director-triggered CVL or a court-ordered compulsory liquidation, the appointed insolvency practitioner must scrutinise the directors’ conduct leading up to insolvency. […]
My company can’t pay unfair dismissal fines
My company can’t pay unfair dismissal fines Getting fined for unfair dismissal is possible if an Employment Tribunal decides someone was sacked unfairly. UK employment law outlines the reasons for a fair or unfair dismissal. If you let go of an employee, you need to prove at least one fair reason listed in the Employment […]
What support is available if my company can’t pay creditors?
What support is available if my company can’t pay creditors? If you’re unable to meet payment obligations, it’s advisable to promptly consult with a licensed insolvency practitioner. They can guide you through available choices. Ignoring creditors won’t resolve the issue; instead, it may increase the pressure on you and your company. When your company […]
Understanding your responsibilities when it comes to the National Minimum Wage
I can’t afford to pay National Minimum Wage or National Living Wage With the rising cost of living due to high fuel, housing, and food prices, along with incomes staying the same, households earning less money are feeling the pinch a lot. The government is under pressure to increase the wages of those at the […]
Can I lose my house if my company goes into liquidation?
When might your personal assets be at risk? Company directors often worry about the possibility of losing their homes if their business faces failure. In most instances, the answer is no, but there are rare circumstances when your personal assets might be vulnerable. It’s crucial to grasp the specific situations in which this risk exists. […]
Can I consolidate my business debts?
There are several options available to help you pay your debts If your business is grappling with multiple debts, consolidating them is a potential strategy to regain financial stability. Various debt consolidation methods are at your disposal, contingent on your business type and circumstances. Regardless of the chosen approach, the objective remains consistent: merging all […]
Can HMRC chase a dissolved company?
If you dissolve a company with tax debts, can HMRC chase you? Dissolving a company is appropriate only for solvent businesses without debts. If you dissolve a company with tax owed, HMRC may pursue payment for up to six years after the dissolution. They have the authority to seek reinstatement of the company and examine […]
Asset Refinancing
How asset refinancing can help your business Asset refinance enables you to obtain a lump sum of cash by leveraging the equity value of assets already listed on your balance sheet. This proves beneficial if you intend to make a deposit on new equipment or seek to improve cash flow and enhance working capital. It’s […]
All you need to know about corporation tax relief
A director’s guide to corporation tax relief As a limited company director, it’s mandatory to submit a corporation tax return within 12 months of the accounting year-end. This return incorporates various reliefs and allowances. Since you bear the ultimate responsibility for its accuracy, it’s wise to familiarise yourself with the corporation tax relief rules. However, […]