What is an Overdrawn Director's Loan Account?
What is an Overdrawn Director's Loan Account?
For a Company Voluntary Arrangement (CVA) to not be rejected, it must be supported by 75% of creditors (by value). The proposed document should be approved by more than 50% of the shareholders. However, not all CVAs are approved, some are rejected
The Insolvency Service publish the first release of its monthly insolvency statistics for 2021...Overall registered company insolvencies were lower in England, Wales, Scotland and Northern Ireland in January 2021 compared to in January 2020
What if we can't pay company pensions for employees and employers contributions?
New statistics: Company Insolvencies in Q4 2020 were lower compared to that of Q4 2019 for England, Wales, Scotland and Northern Ireland
Companies House is to put a halt on voluntary and compulsory strike-off processes for one month
Business bankruptcy is also known as insolvency in terms of company debts. Here is some more advice if you are concerned about potential business bankruptcy
To help small firms, the Prompt Payment Code has been reformed and strengthened.
There is now an additional requirement to pay 95% of invoices from businesses with fewer than 50 employees within 30 days.
Directors may worry that they may not be able to pay back CBILS loans that have been granted to their companies during the pandemic. https://www.companyrescue.co.uk/guides-knowledge/news/what-if-i-cant-pay-back-my-coronavirus-business-interruption-loan-cbils-4474/
Mon: | 9:00 AM – 6:00 PM |
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Tue: | 9:00 AM – 6:00 PM |
Wed: | 9:00 AM – 6:00 PM |
Thu: | 9:00 AM – 6:00 PM |
Fri: | 9:00 AM – 6:00 PM |
Sat: | Closed |
Sun: | Closed |