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The latest insights and trending topics from Begbies Traynor Group
UK utility companies in hot water
The UK water industry operates in a complex operational and financial environment which has pushed the sector’s largest company, Thames Water, to the brink of insolvency and raised the prospect of a temporary government privatisation.
A-Z of Offshore Insolvency, C is for Chapter 11
A serialised guide to some concepts and features encountered in the world of offshore insolvency
Does my personal credit score matter when applying for credit for my business?
Financial institutions base their lending decisions on the level of risk posed by a borrower.
A-Z of Offshore Insolvency, B is for Bonds
Bonds are essentially IOUs issued by companies or governments to raise capital: investors buy bonds from the issuer company, becoming creditors who then receive periodic interest payments. The principal amount is returned when the bond matures.
A-Z of Offshore Insolvency, A is for Agents
Agents, and, more specifically, Registered Agents are the topic of the first article in this series.
Can one director appoint administrators when the other opposes?
The most common route into Administration is for the company directors to call a meeting and hold a vote.
What is an unenforceable personal guarantee?
As a company director, you may have to provide a personal guarantee to secure business borrowing or underpin a commercial tenancy agreement.
What is Business Asset Disposal (Entrepreneurs’ Relief) in an MVL?
Entrepreneurs’ Relief is a tax relief scheme which allows for a reduced rate of Capital Gains Tax (CGT) to be paid upon the disposal of a limited company.
What is ‘moneyboxing’ in company liquidation?
HM Revenue and Customs (HMRC) has expressed concern about the use of this process known as Moneyboxing, but what is it? Begbies Traynor discusses.
What happens if I cannot pay the VAT?
Struggling to pay the VAT is a common problem for companies, however, this does not mean the problem should not be taken seriously.
Can a UK company remove a County Court Judgment?
Removing a County Court Judgment (CCJ), also known as having a CCJ set aside, can be done under specific circumstances but taking early action is key.
What is a Restructuring Plan for UK companies?
Restructuring plans are the latest addition to the corporate insolvency sphere, allowing a company to enter into a "compromise or arrangement" with creditors.
Can an accountant close my company?
A rescued company may be described as a 'going concern' because it is expected to trade profitably and without distress for at least 12 months.
What is provisional liquidation?
The Insolvency Act, 1986, allows for the appointment of a provisional liquidator under certain circumstances.
What happens to a business when it is sold out of administration?
The administration process was designed to protect a company from creditor pressure whilst a plan for rescue or restructure is put in place.
Company Dissolution – Who can object to striking off?
When a limited company is dissolved and its name removed from the register at Companies House, directors must ensure that creditors are paid within 12 months of closure. This is a fundamental part of being eligible for dissolution, as the process is not available to insolvent companies.