Business Recovery

Bounce Back Loan Calculator

Bounce Back Loan Calculator: How to Calculate Accurately

The Chancellor, Rishi Sunak, announced a series of financial measures in 2020 to help businesses through the coronavirus pandemic. One of those initiatives was the Bounce Back Loan which was launched in April 2020. It allowed small and medium-sized businesses to borrow up to £50,000, depending on turnover, at a very low-interest rate. As well …

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Business Continuity Services

Business Continuity and Disaster Recovery in Financial Services

A couple of months ago, on 31st March, the financial sector in the UK had to abide by new operational resiliency regulations and guidance. Designed by the FCA (Financial Conduct Authority) and in partnership with the PRA (Prudential Regulation Authority) as well as the BoE (Bank of England), the aim is to improve and strengthen …

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HMRC Debt

How to Close a Company with HMRC Debts in the United Kingdom

Struggling with company debt can be challenging; many directors find that the turning point into official insolvency is being unable to pay HMRC their tax obligations. In these situations, the company enters an insolvency procedure. Which procedure depends on whether HMRC applies via the courts for compulsory liquidation or the company’s directors opt for a …

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Business Asset Disposal Relief

Business Asset Disposal Relief on Liquidation in the United Kingdom

What was formerly known as Entrepreneurs Relief is now known as Business Asset Disposal Relief (BADR). It is a tax relief benefit that can reduce the Capital Gains Tax (CGT) that is paid on the sale of the assets of a solvent company that is either being liquidated or sold. When a solvent company is …

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Business Recovery Services

Best Guide for Business Recovery Services & Rescue in 2022 in UK

Debt is not an easy matter to deal with. The last couple of years have possibly been the hardest for many businesses, large or small, due to the impact of the coronavirus pandemic. Sadly, for some business owners, it’s difficult to see a way past the debt and into recovery. Being in debt, whether it’s …

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Bounce Back Loan

What Happens If a Company Can’t Pay It’s Bounce Back Loan?

Lockdowns in 2020 and early 2021 due to the coronavirus pandemic hit many businesses across the UK hard. To help small businesses that were, and are, struggling to survive due to Covid-19, they were able to apply for funding via a Bounce Back Loan Scheme introduced by the Government in May 2020. The loan allowed …

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take over a limited company

Is It Possible in the UK to Takeover a Limited Company that’s in Receivership or Liquidation?

When a limited company enters receivership, also known as administrative receivership, it is usually because it has serious cash flow problems and is insolvent. The same can be said for a company being liquidated. Both processes are for insolvent limited companies and must be handled in accordance with the Insolvency Act 1986. However, the process …

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administrative dissolution

How to Close an Insolvent Company with Debts and No Assets

When an insolvent company is liquidated and closed down, its assets are sold to raise the necessary funds to pay back the company’s creditors. Whilst not every creditor is likely to get their money back, most priority creditors are successful. There are two forms of insolvency procedure for a company with debts and assets – …

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