How Company Voluntary Arrangement Becomes Redundant Due to Change in Insolvency Laws

After figures surrounding insolvency were released last year, it looks as though the reintroduction of Crown Preference is on the horizon. This reintroduction could wreak serious damage on company rescues and make the company's voluntary arrangement completely redundant. This is going to be discussed in more detail throughout the below article. What Is a Company's [...]

By |2023-08-28T13:59:46+01:00August 28th, 2023|Liquidation|Comments Off on How Company Voluntary Arrangement Becomes Redundant Due to Change in Insolvency Laws

Why Firm Behind Forever Unique Goes into Liquidation

It has been a difficult few years for many organisations thanks to the pandemic, the rise in the cost of energy and general economic uncertainty. This has resulted in many businesses going into liquidation and closing for good. One of the businesses that have currently fallen victim to this economic turmoil is Forever Unique, which [...]

By |2023-06-30T05:52:16+01:00June 30th, 2023|Liquidation|Comments Off on Why Firm Behind Forever Unique Goes into Liquidation

How Long Does It Take to Dissolve a Limited Company in the UK?

When you dissolve a company, this is a formal process to close an organisation down in the UK. You can only dissolve a company if there are no outstanding debts. You shouldn’t try to dissolve your organisation if there are debts; you must liquidate it instead. If you do apply to dissolve your company and [...]

By |2023-05-15T07:07:36+01:00May 15th, 2023|Liquidation|Comments Off on How Long Does It Take to Dissolve a Limited Company in the UK?

Top 6 Things to Consider in Insolvent Probate in the United Kingdom

When someone dies, the executors (or administrators if there is no Will) will be responsible for dealing with the deceased’s estate. There are a number of rules surrounding paying off the different debts and liabilities which were owed by the deceased, and these need to be followed correctly. What Happens to Someone’s Debt After They [...]

By |2023-03-24T10:46:58+01:00October 10th, 2022|Liquidation|Comments Off on Top 6 Things to Consider in Insolvent Probate in the United Kingdom

How to Calculate Members’ Voluntary Liquidation Tax | Tax Calculator

There are two principal ways to close a solvent limited company; either a voluntary or informal strike-off or through a Members’ Voluntary Liquidation (MVL). It is often believed that an MVL is the most tax-efficient way, but it may not always be the best option, particularly when it comes to how much tax shareholders will [...]

By |2023-03-24T11:18:16+01:00May 22nd, 2022|Liquidation|Comments Off on How to Calculate Members’ Voluntary Liquidation Tax | Tax Calculator

How Much Does an Individual Voluntary Arrangement Cost in 2023 in the United Kingdom

If you are personally struggling with debt to the point of insolvency, i.e. your outgoings are much greater than your incoming funds, it may have been suggested to you – or a creditor is forcing the issue – that you enter an Individual Involuntary Arrangement (IVA). An IVA is a legally-binding agreement made between you [...]

By |2023-01-30T09:44:46+01:00March 13th, 2022|Liquidation|Comments Off on How Much Does an Individual Voluntary Arrangement Cost in 2023 in the United Kingdom

What Are Liquidation Proceedings?

In the UK, there is a set process to closing down or restructuring a limited company, whether it is solvent or insolvent.  This process is known as liquidation and can only be handled by a licensed insolvency practitioner (IP) in accordance with the Insolvency Act 1986.   Types of liquidation proceedings There are four main [...]

By |2023-03-24T11:55:51+01:00September 12th, 2021|Liquidation|0 Comments
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