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Personal and business debt plans in the United Kingdom
In 2020, due to the COVID-19 pandemic, the level of personal and business debt has risen exponentially. The latest October 2020 debt statistics in the UK aren’t comfortable to read: Average total debt per UK household in August 2020 – £60,526. Total unsecured debt per UK adult in August 2020 – £3,946. Between June and […]
January 19, 2021
Who pays the Liquidator’s fees (in the UK) if the company has gone bankrupt?
Despite the impact of COVID-19 in 2020, if you look at the monthly UK insolvency statistics, the number of companies that filed for bankruptcy or went into liquidation, administration or CVAs, has decreased year on year. For example, in July 2020 in England and Wales, there were a total of 955 company insolvencies which represented […]
January 13, 2021
What are some good plans that could be considered when you repay debts for your business?
Debt is not something new to many corporate businesses; it’s usually manageable. However, the level of debt being held by corporate businesses in the UK is significantly higher than previous years due to the COVID-19 pandemic. A study by The Recapitalisation Group, formed by The City UK, a finance industry body, has suggested that corporate […]
January 6, 2021
How do businesses elaborate plans to pay off their debts?
Although many have returned to work, there are still millions of workers on the Government-backed furlough scheme. This means the UK’s Debt Management Office (DMO) is working overtime in selling gilts, or government bonds, to pay the difference between what the government raises in taxes and spending to pay for the COVID-19 pandemic. This also […]
December 30, 2020
Can you start a new business after liquidation?
A common question by directors and business owners after a limited company has been liquidated is, can they start again? It is possible for directors of an insolvent limited company to start a new business after liquidation, particularly if the new business is going to be trading under a different name or trade. However, if […]
December 23, 2020
What is the procedure for a member’s voluntary liquidation for a group?
There are a variety of reasons why a director may want to close a solvent limited company. For example, retirement might initiate closure, or a merger with another company, a major company restructure or if the company is dormant. Whatever the reason, if the company is solvent, i.e. has sufficient funds to pay all of […]
December 16, 2020
Leading acquires will writing and probate business of Notary Express
Leading has acquired the will writing and probate business of Notary Express, the conveyancing and will writing firm based in Norwich with satellite offices around the UK. The business will be merged with Norfolk Will Writing, the estate planning arm of Leading. Norfolk Will Writing provides will writing, LPAs, probate and estate administration services. Notary […]
December 11, 2020
How do auctioneers in business liquidation find closing businesses in Norwich?
When a company goes into liquidation, a key part of a liquidator’s role is to sell any remaining assets such as property or stock. This is the case whether the company voluntary or compulsory, solvent or insolvent. Sometimes, with voluntary liquidation of a solvent company, those assets will be transferred to either the directors, shareholders […]
December 9, 2020
How to choose the best debt consolidation company
Is financial stress getting to you? Are the pressures of paying bills getting too much or is there simply never enough money to keep creditors happy? It can be a very tough situation to find yourself in. Debt consolidation can be a great solution to all of the above financial problems but it is very […]
December 1, 2020
How do I close a newly-incorporated private limited company?
You have a great idea for a business and you register a company but it doesn’t quite go to plan. You want to close the business a short while later. There can be several reasons why business owners want to close a private limited company which can include the business not making the money expected, […]
November 11, 2020
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