Plain guides for UK business directors on HMRC and tax debt, business recovery, director duties and running the company day to day.
A CVA repays creditors over time, administration hands control to an insolvency practitioner, and liquidation closes the company. Here is how each one works.
Read more
Read your facility documents, check your cash position, then give the bank an honest update with figures you can stand behind. What to prepare and who to ask.
Read more
Rework the cash forecast, then talk to each supplier with honest figures. Here is what payment up front does to cash, what to offer and when to take advice.
Read more
Your landlord can ask, use CRAR, claim the debt or move to forfeit the lease. Here is what the law says in England and Wales and when to see a solicitor.
Read more
Start with your lender. Bounce Back Loans still have to be repaid, but lenders are expected to offer longer terms, interest only spells or a payment pause.
Read more
It can be. The money still belongs to the company and a liquidator can pursue it if the company fails. Here is what GOV.UK says and what to ask your accountant.
Read more
Yes. Directors must verify their identity with Companies House and give a personal code: on the next confirmation statement, or when appointed if they are new.
Read more
Strike off suits a solvent company that has stopped trading. It is not a route around debts, and creditors can object. Here is what GOV.UK says to check first.
Read more
Put every creditor on one list, answer each call honestly and promise only what you can keep. Here is how, what GOV.UK says and when to see a regulated adviser.
Read more
A personal guarantee is your own promise to repay a company debt. Here is how to find each one you signed, what to note about it and when to see a solicitor.
Read more
HMRC says it tries to contact you and agree a way forward before acting. Here is what a final demand means, what can follow and what to do in the first days.
Read more
HMRC debt grows because interest runs from the first day, penalties step up the longer tax stays unpaid and new bills keep arriving. Here is how each works.
Read more
A creditor owed £750 or more can ask the court to wind up a company it shows cannot pay. Here is how demands, petitions and hearings work, and who to involve.
Read more
The rules cover set sectors such as accountancy, estate and letting agency and company services. Here is how to tell if your firm is in scope and what it needs.
Read more
Late accounts bring automatic penalties, not filing either one is a criminal offence and the company can be struck off. Here is what Companies House says to do.
Read more
Your general duties continue, but if the company becomes insolvent your focus shifts to its creditors. Here is what GOV.UK says and when to get regulated help.
Read more
Bills fall on fixed dates while customers pay weeks later. Here is how to see the cash gap early, use your late payment rights and tell timing from profit.
Read more
HMRC can agree Time to Pay when a company shows a realistic, affordable plan. Here is what HMRC asks for, what to prepare and when a plan is not the right tool.
Read moreLoading latest news...