Category: Small Business

Builder Case Highlights Danger of Taking Clients’ Money During Company Insolvency

Continuing to trade in the knowledge that a company is insolvent can be a precarious business as a press release displayed on the government website.gov.uk highlights.   The article relates to a builder who is now disqualified from trading altogether after it was discovered that he continued to take on work and receive payments while the business…




Will Business Insolvency Cost Me Anything?

The answer to this is it depends both on the complexities involved, creditors and insolvency practitioners hired to deal with the process. Insolvency should never be seen as an easy option as a result of the many variables that need to be considered first.   Potential fees for a business going insolvent might include the costs…




More Construction Insolvencies As Carillion Fallout Continues

Anyone hoping for better news in the construction industry will have to wait longer as data shows hundreds of construction firms entered insolvency in the first quarter of the year.   The collapse of Carillion may have grabbed all the headlines due to its high profile and size, but the ripple effect is already looking a…




Is Your Business Set Up To Fail?

This may sound like an odd question, we can all talk about how we work hard to succeed at our businesses, put in the hours and so on but often this effort can be misplaced and not in the long term interests of the business.   Weaknesses in any of the key areas of what makes…




When Insolvency Has A Bigger Sting In The Tail

The story of one unfortunate former restaurant owner serves as a warning that insolvency can leave business owners open to further scrutiny of their business.   The recent case involving Azam Ail, former director of the Indian Restaurant Pabna Restaurant Ltd (Pabna) ended with 9-year ban from the promotion, formation or management of a company unless…




What Are Your Options If You Can’t Pay HMRC?

The saying goes there are 2 things certain in this life, death and taxes. This ignores another certainty, unlike other creditors, HMRC will continue to pursue matters to their conclusion. This can send many business owners who owe tax into a cold sweat but it doesn’t have to spell the end of your business.   While…




Under What Circumstances Can HMRC Write Off Debt?

If you are a business owner worried about how you are going to settle your HMRC debt then the bad news is renegotiating or writing off the debt isn’t going to be an option for you.   In fact owing money to HMRC means you are likely to be facing increased pressure to pay up as…




Business Insolvencies Down 12%

The number of businesses entering insolvency has fallen by 12% compared to the first quarter of the year according to insolvency and restructuring trade body R3.   However it is largely a case of good news and bad news when insolvency rates compared to the same period last year have actually risen by 12%. The first…




What Can You Do If You’re Wrongly Pursued For Debts?

You probably get spam emails every day claiming you owe money but it’s a totally different matter when the claim is genuine and your creditor is claiming you owe them money when this is not the case.   Most often this type of claim is made by an organisation you have not communicated with directly such…




Thousands Of Estate Agents Could Face Insolvency Or Closure

Recent research suggests that estate agents have a fight on their hands if they want to avoid insolvency and closures as a result of factors such as rising levels of competition from online estate agents.   Figures from the year to May 2018 show that 153 estate agents fell into insolvency marking an increase from the…