Retention of Title – How does company insolvency affect this?
What you need to know about Retention of Title When a company gives items to customers on credit, there’s a chance they might not get paid on time. This can be a big problem for suppliers, affecting their cash flow, especially if the customer is in financial trouble. If a company has to go into […]
Can I run my UK limited company from abroad?
Running a UK limited company from overseas as a non-UK resident If you don’t live in the UK, you might be thinking about running a UK-based limited company from another country. There are things to think about, like your taxes and where your company is officially based. Getting your taxes right is really important here. […]
The importance of business liquidity
What is the definition of business liquidity? Business liquidity describes how fast and easily a business can turn assets into cash. A company with high liquidity can quickly raise funds to cover unforeseen expenses without needing to borrow more. What does liquidity mean in business? Business liquidity depends on how swiftly a business can […]
Can I resign as a director but keep my shares in the company?
Resigning as company director: What happens to my shares? There are numerous reasons why you may wish to resign as a director of your company. However, before doing so, it’s important to think about whether you intend to retain your shares in the company. The Articles of Association or Shareholders’ Agreement usually outline the procedure […]
Can I be a company director if I have an IVA?
Can I operate a limited company if I have an Individual Voluntary Arrangement (IVA) due to personal debt problems? A company director doesn’t need to resign or lose their position if they have an Individual Voluntary Agreement (IVA) to solve personal debt problems. Unlike bankruptcy, where a director has to relinquish their position. IVAs: Definition […]
What To Do When Your Company Owes You Money?
What can I do if my employer owes me money? If you’ve loaned your company money, it’s seen as a director’s loan, and you’re considered a creditor of the business. If the company can’t repay the money you’ve lent, and it goes into liquidation, as a director, you’ll be low in the hierarchy to get […]
What can a supplier do if you don’t pay for stock?
Can suppliers reclaim stock for non-payment? If you can’t afford to pay for stock, can the supplier take back the goods? The supplier’s ability to reclaim goods or take back stock depends on the retention of the title clause in the contract. Different versions of this clause may have various limitations. What can a supplier […]
Commercial Lease Advice: Stop Eviction with Relief from Forfeiture
Understanding Relief from Forfeiture If you’re renting a shop or office space with a tenancy agreement in the UK, and your landlord is looking to end your lease prematurely, ‘Relief from Forfeiture’ might be a handy legal option. It’s a way to try and keep your lease and stay in your place. Wondering what Relief […]
Is it possible to face personal bankruptcy for company debts?
Are limited company directors at risk of bankruptcy if they can’t afford company debts? Limited company directors benefit from legal protection called limited liability, protecting them from personal liability for company debts or bankruptcy. Exceptions arise if you provided a personal guarantee or engaged in director misconduct. When may your business start to fail? Cash […]
Top tips for saving a failing company
How to rescue a company that is approaching insolvency? If your limited company faces insolvency due to cash flow issues, inability to meet debt repayments and poor credit, take immediate action. A licensed insolvency practitioner can assess your outgoings, streamline company operations, and suggest an appropriate insolvency procedure. Is Your Business Falling Apart? Discover 7 […]