Business Recovery

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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Recovery Loan Scheme

Is My Business Eligible for the Recovery Loan Scheme?

In April 2021, the government launched a new loan scheme to help businesses recover from Covid-19. In partnership with a number of financial institutions, the Recovery Loan Scheme (RLS) helps companies that have been affected by Covid-19 with funds being made available to assist them with cash flow, investment in equipment or staff and business …

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Restructuring and Corporate Recovery in the UK

A Practical Guide to Restructuring and Corporate Recovery in the UK

Perhaps surprisingly, considering the country’s business sector forced into lockdown situations and taking the Government’s hand of financial support, the number of insolvencies to date has remained lower than expected. That’s not to say we won’t see more insolvencies over the coming months as the financial support ends and the companies that were in trouble …

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Business Asset Disposal Relief

What is Business Asset Disposal Relief and How Often Does it Work?

When solvent companies are being closed through a Members’ Voluntary Liquidation (MVL) process, the directors are able to claim back money through the Business Asset Disposal Relief (BADR) as a way of mitigating how much Capital Gains Tax (CGT) is paid. Formerly known as Entrepreneurs Relief, which was introduced in 2008 to replace Business Asset …

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insolvency and bankruptcy law

What’s the Purpose of Insolvency and Bankruptcy Law?

Different countries worldwide have their own insolvency and bankruptcy law but they don’t differ that much from the UK’s legal rules in respect of insolvency and bankruptcy. The two principal objectives of insolvency and bankruptcy law are shared by most countries – (1) the allocation of risk in a predictable, equitable and transparent manner, and …

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insolvency practitioner

Insolvency Practitioner and Business Recovery Professionals

Currently, there are approximately 1,600 licensed insolvency practitioners (IPs) licensed and registered in the UK. The majority of IPs work for legal or accountancy firms, or for a dedicated business recovery and insolvency practice. The role of an insolvency practitioner involves more than just liquidating solvent and insolvent companies. They are also very much involved …

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business recovery professionals

Business Recovery and Insolvency Practitioner of the UK

There are about 1,600 licensed insolvency practitioners (IPs) in the UK; that doesn’t include the support staff in the background that assist the UK’s IP in providing comprehensive, professional and highly-experienced insolvency practitioner services for businesses across the country. But IPs don’t just deal with liquidating companies; they are also business recovery professionals, i.e. helping …

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insolvency practitioner

An Overview of Insolvency Practitioner Services in the UK

As of 2021, there are around 1,600 licensed insolvency practitioners (IPs) in the UK; that doesn’t include the thousands of support staff in the background that help every single one of the UK’s IP in providing comprehensive, professional and highly-experienced insolvency practitioner services for businesses and individuals across the country. But what is involved in …

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Business Recovery Services To Protect Your Business

Businesses can at times face financial difficulties including cash flow issues, large debts and potentially on the verge of insolvency. Firstly, don’t panic. Secondly, get advice from a business recovery services expert on how to deal with business debt and restructuring the company to turn it around. What is business recovery? Business recovery refers to …

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