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 …
Business Asset Disposal Relief on Liquidation in the United Kingdom Read More »
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 …
Best Guide for Business Recovery Services & Rescue in 2022 in UK Read More »
Businesses across the UK haven’t had an easy time recently; not only are many fighting to survive after the pandemic of the last two years, but they have also had to deal with an energy crisis, increasing inflation and the potential of a recession looming, as well as the threat of ongoing rising costs due …
Best Disaster Recovery Plan for Small Businesses Read More »
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 …
What Happens If a Company Can’t Pay It’s Bounce Back Loan? Read More »
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 …
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 – …
How to Close an Insolvent Company with Debts and No Assets Read More »
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 …
Is My Business Eligible for the Recovery Loan Scheme? Read More »
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 …
A Practical Guide to Restructuring and Corporate Recovery in the UK Read More »
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 …
What is Business Asset Disposal Relief and How Often Does it Work? Read More »
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 …
What’s the Purpose of Insolvency and Bankruptcy Law? Read More »
Simple Liquidation
