Notice of Enforcement
What is a Notice of Enforcement? A Notice of Enforcement is an official written warning issued by a creditor and authorised by the courts (with exceptions) to inform you that your assets will be seized through a Controlled Goods Agreement if you do not promptly settle your liabilities or engage in negotiations for payment. […]
What tax do I have to pay when closing my company?
How can I close my company in the most tax-efficient way? If you are contemplating the closure of your limited company for any reason, it is natural to seek the most tax-efficient method. Fortunately, there are established procedures and tax reliefs to assist you in minimising your tax liability. How can I close my […]
Should I close my company or make it dormant?
Which is the best option for my limited company? You need not close your company if it’s no longer trading. Opting to make it dormant could be a more suitable choice. This allows you to swiftly revive the company in the future and safeguards your trading name from being used by others. Closed or […]
How much does it cost to close a company in the UK?
What’s the most cost-effective closure method for my limited company? The expenses associated with closing a limited company in the UK can vary significantly based on your specific circumstances. Striking off a solvent company from the Companies House register incurs a £10 administrative fee, while liquidating an insolvent company can cost £4,000 or more. […]
What should I do with my company if I am retiring?
What are my options and how will they affect my retirement? Retiring as an employee is a straightforward process. You submit your resignation, fulfill your notice period, and then embrace all that retirement has to offer. As a company director, it demands a bit more consideration. You must contemplate what you will do with the […]
When will Companies House not allow you to close your limited company?
Why might your strike-off application be rejected? Requesting the closure of a limited company through Companies House is the simplest method to conclude your business, but caution is essential. While it is an appealing option, specific criteria must be met before you can remove your business from the Companies House register. Incorrectly closing down a […]
Closing a company with debts and no assets
Liquidate a company with liabilities and assets In the UK, stringent regulations surround the closure of limited companies, with a crucial consideration being the company’s indebtedness. Solvent companies capable of fully repaying their debts have the option to close through dissolution or a formal process known as Members’ Voluntary Liquidation (MVL). Directors must exercise caution […]
Advice on closing a company with debts
Closing a company with debts You have the option to shut down a company with unpaid debts by opting for an insolvency procedure called a Creditors’ Voluntary Liquidation (CVL). Through a CVL, the company will be concluded, and creditors will receive repayment to the best extent possible. Debts linked to the company will be cleared […]
Understanding Secured and Unsecured Business Loans
The difference between secured and unsecured business loans and what this means for you When considering funding options for your business, several choices can be suitable for starting up or facilitating growth. A secured business loan entails the lender taking one or more of your company’s tangible assets as ‘security.’ These assets may include premises, […]
Start Up Loans
How a start-up loan could help your new business We possess expertise in assisting numerous small businesses with versatile loans and financial support. Typically, funds arrive within 24 hours. Starting a new business without a trading history or prior credit can make securing finance from conventional sources challenging. Established banks often demand evidence of a […]