Director Advice
Understanding transactions at undervalue
A transaction at undervalue is when business assets are sold lower than their true value or for a loss.
What is the Difference Between Fraudulent and Wrongful Trading?
What is the Difference Between Fraudulent and Wrongful Trading? Simple guide to understanding the differences to help you choose the right option
What is a limited liability partnership?
A limited liability partnership (LLP) is a legal business structure. Professional firms such as solicitors and accountants often choose to set up as limited liability partnerships, but the structure can also be a beneficial option for other types of business.
What are the Advantages and Disadvantages of Debentures?
The reluctance of some banks in offering business loans has resulted in more directors lending to their own company.
What is an insolvency practitioner and what are their duties?
An insolvency practitioner (IP) is licensed to act on behalf of companies and individuals when they are facing insolvency or acute financial distress.
What is company director disqualification?
A director’s disqualification order bans you from acting as a company director due to unfit conduct, but you are able to work as a company employee.
What happens to my CBILS or Bounce Back loan during liquidation or administration?
The Coronavirus Business Interruption Loan Scheme (CBILS) as well as the Bounce Back Loan Scheme, offered a valuable source of emergency finance for businesses during the coronavirus pandemic back in 2020.
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.
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.
HSE Fines – What happens when your company can’t afford to pay?
Employers have a duty to ensure the health and safety of their employees and members of the general public when they are on business premises.
Directors’ Loan Account
Overdrawn directors’ loan accounts can come to be a real cause for concern; particularly in the context of a company entering insolvency.
Business Rates Exemptions, Reductions & Reliefs
The pressure placed on government to reduce business rates has led to a range of reliefs and exemptions being made available, with some local authorities also offering discretionary reliefs to local businesses that meet their criteria.
What are Unlawful Dividends?
What are Unlawful Dividends? Begbies Traynor is the UK's market leader in business recovery. With over 100 UK offices and 1000 staff we are well positioned to assist you.
What happens to directors of an insolvent company?
Directors of an insolvent company are protected from being held personally liable for company debts (limited liability), except in the event of misconduct.
The Difference between Secured and Unsecured Creditors
A defined hierarchy of creditors exists when a company enters insolvency, with secured creditors being at the top.
Selling Company Assets – What Do Company Directors Need To Be Aware Of ?
If you wish to sell any of the assets of your limited company then there are a number of factors to take into consideration, especially regarding how these are treated for tax purposes and the differing treatments of both tangible and intangible business assets.