As a company director, we know it can be difficult to see the positives in liquidating your company to pay off your debts, but there are advantages to this situation. For example, many directors choose a process called creditors’ voluntary liquidation which offers a number of benefits unlike trading insolvent…
Insolvency predictions for 2015: Key info for business owners
Good news for business owners: The latest stats from the Insolvency Service show the total number of companies who entered liquidation in 2014 was down by 6.3%. The number of companies going into administration fell to its lowest since 2004, down 24% from 2013. There was also a drop of…
Dealing with company debt: alternatives to liquidation
No business owner relishes the prospect of liquidating their company so we’re pleased to say that debt does not have to spell the end. If your company is facing financial difficulties there are other options you can consider. We have taken the liberty of outlining a few of them below…
The drawbacks of choosing liquidation: a Director’s guide
Liquidation can seem like the best possible option when your company falling deeper and deeper into debt. But while voluntary insolvency does have several advantages, we think it is important that as the company Director, you understand the potential drawbacks. We’ve put together a three-point guide to the negatives which…
Choosing liquidation: leaving company debt behind to start again
Choosing liquidation means your company debt does not have spell the end of your business dreams. Voluntary insolvency can provide the opportunity for directors of companies which are in difficulties to cut their losses and start again. We know it can be a stressful time, but with the right support,…
Liquidation: How to leave behind the debt and save time and money
Liquidating a company is not something any business owner looks forward to and we know it can be stressful when you come into difficulties. But did you know there are a number of things you can do to make sure the liquidation process is successful and that you are on…
Are you worried about how liquidation will affect you personally?
We come across a lot of directors worrying about liquidating their companies for fear of personal and professional repercussions. Normally this is because they have received bad, second-hand advice or haven’t discussed the matter with a chartered accountant. So long as you have acted legally and in time there is…