Tag: insolvency advice
What happens when your company does not bounce back after receiving the Bounce Back Loan?
In early 2020 when the Coronavirus Pandemic hit the UK the Government brought in a series of measures to help businesses survive. One key measure was the Bounce Back Loan Scheme. The scheme was introduced in March 2020 allowing small and medium businesses to borrow up to 25% of annual turnover, capped at a maximum... Read more »
Covid-19 – Issues for Directors around wrongful trading
It is nearly a month since the announcement on the 28 March by the Government that it would be temporarily suspending the provisions relating to wrongful trading. At the time of writing the legislative provisions have not yet been debated. The objective of the government at the time was “to help UK companies which need... Read more »
A quick guide to Dividend Payments for Director/Shareholders
When a company enters into liquidation one area that will always be investigated by the liquidator is whether there have been any payments of dividends that should not have been declared by the company. Dividends are often advised as being a tax efficient way for a director/shareholder to extract value from their business however it... Read more »
How should a Director deal with a Statutory Demand served on their company?
One of the most serious documents a company director can receive is the service of a statutory demand. Whatever the director’s opinion is of the person serving the demand or of the debt being claimed action needs to be taken as a matter of urgency. The options open to the company to deal with demand... Read more »