Advice Hub

Table of Contents What are contingent liabilities when closing a company? Contingent liabilities are ‘in the background’ of a company’s financial affairs but [...]

Table of Contents What are a directors’ responsibilities when closing a company? A limited company is a legal entity in its own right [...]

Table of Contents What is a winding up petition? A winding up petition is a legal document used by creditors to close down a [...]

Table of Contents Can the courts or a creditor forcibly close my company? If your company is struggling to repay its creditors due [...]

Table of Contents Can I close a company myself? It is possible to close a limited company yourself, but initially, you need to [...]

Table of Contents What happens to debts when I close a company? Financial decline can occur steadily over time or sometimes unexpectedly – [...]

Table of Contents How to close a company with a Bounce Back Loan If your company is insolvent but has an outstanding Bounce [...]

Table of Contents Can I close a company with HMRC debts? HMRC has more authority to recover monies owed to them than other [...]

Table of Contents Am I personally liable for business debts after closing a company? When you set up a limited company in the [...]

Table of Contents What is Business Asset Disposal Relief when closing a company? Business Asset Disposal Relief (BADR) is a form of tax [...]

Table of Contents Understanding a first Gazette notice for strike-off The Gazette is the UK’s official public record and contains statutory notices, including [...]

Table of Contents What is the role of Companies House when closing a company? You may know Companies House as the government agency [...]

Table of Contents Is my company insolvent and how do I close it down? If you think the time has come to close [...]

Table of Contents Closing a company with retained profits Retained profits are those held within the business after dividends have been paid to [...]

Table of Contents What is the difference between strike-off and company liquidation? Strike-off and company liquidation are both ways to close down a [...]

Table of Contents What happens if I can’t pay my company’s VAT bill? If your taxable business turnover exceeds £90,000 you must register [...]

Table of Contents Will I be personally liable for my company’s debts? We speak to hundreds of company directors every year, and understandably, [...]

Table of Contents What happens if I can’t pay my corporation tax? Limited companies in the UK are subject to corporation tax on [...]

Table of Contents What happens to employees when a company goes into liquidation? Company closure can be an unexpected event that leaves employees [...]

Table of Contents How to close a company without paying too much tax There are two ways to close down a solvent company [...]

Table of Contents How to close a company with no money If you want to close your company but there’s no money you do have [...]

Table of Contents Are personal guarantees enforceable after liquidation? Personal guarantees play an important part in securing finance and helping companies to start [...]

Table of Contents How do I close a solvent limited company? Being solvent means that your company can pay all of its bills [...]

Table of Contents What is the role of the Insolvency Practitioner when closing a company? An insolvency practitioner (IP) is a licensed individual [...]