Joint Administrators of Control Solutions & Pipework Services Limited – In Administration SEEK OFFERS FOR THE BUSINESS ASSETS AND STOCK Stainless Steel Hygienic Process Pipework Fabricator and Installer South-West Based Next steps
One aspect of the Spring Statement which has been overlooked is the Chancellor’s attempt to collect in more tax debt. There is around £44 bn of tax debt with just under half of this over 12 months old. The Chancellor announced that HMRC will recruit 500 more compliance staff to assist with the debt collection […]
Hull Based Manufacturer of Steel Security Cabins and Stores Seeking offers for whatever interest the company has in the following: Next steps
In the case of Bass & Ors vs Buchanan, the director was ordered to repay her director’s loan account balance of just under £300,000 which she had sought to re-categorise as remuneration shortly before her company had entered into liquidation. Historically, the director had received a modest salary of £6,000 pa and paid herself a […]
The tax rate on qualifying gains for Business Asset Disposal Relief (BADR) will increase from 10% to 14% with effect from 6 April 2025. If you have any clients who are considering placing their companies into a solvent liquidation…time is running out and there is only 5 weeks left! Early engagement with an Insolvency Practitioner […]
The High Court is to hear a legal case to see if Funding Circle can pursue business owners under personal guarantees. A debt purchaser, Azzurro Capital, has purchased approximately 10,000 loans from Funding Circle with an approximate face value £500m. Azzurro and Funding Circle have sought to enforce the personal guarantees but in a very […]
Business, Assets and Stock For Sale
The Insolvency Statistics for 2024 have just been released which show that just under 24,000 companies entered into an insolvency process in 2024. The good news is that there is a downward trend in the number of corporate insolvencies and they are 5% lower than in 2023! The monthly insolvency statistics for December are also […]
With the exception of the public holidays, our offices are open over the festive period We wish you all a very Merry Christmas and a happy New Year!!!
Some business owners may be contemplating a solvent liquidation or MVL prior to the increase in Capital Gain Tax rates (“CGT”) in April 2025. The recent case of the liquidation of S.A.L. Holdings Limited (“SAL”) highlights some pitfalls to try and avoid at all costs if you are contemplating an MVL. In May 2018, SAL […]
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