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Business Recovery

Simple Liquidation: Success Stories on Business Recovery from Looming Failure

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Over the years, large corporations, often well-known internationally, have become insolvent for various reasons. Whilst some of them have famously closed down, and long since been forgotten, there are also many that managed to recover from the brink of failure. The success stories can sometimes be hailed as the vision of leadership – would Apple […]

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Bounce Back Loan Calculator: How to Calculate Accurately

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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 and Disaster Recovery in Financial Services

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

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

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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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