Closing a limited company with VAT debt: Your step-by-step guide If your limited company has accrued VAT debt and faces insolvency, you must act swiftly and responsibly. Ignoring VAT arrears can lead to severe penalties, enforcement actions by HMRC, and potential personal liability. This comprehensive guide outlines the precise steps and legal obligations directors must [...]
Company in Financial Difficulty? Your Complete Guide to UK Business Debt Solutions When your company faces financial difficulties, the stress can feel overwhelming. You're not alone - thousands of UK business owners find themselves in similar situations every year. The key difference between those who recover and those who don't is understanding your options and [...]
✅ Bounce Back Loan Liquidation Checklist: A Practical Guide for Directors If your business is struggling with an outstanding Bounce Back Loan (BBL) and you’re considering closing down, it’s important to take the right steps to ensure everything is handled legally and with minimal stress. This checklist will guide you through the liquidation process, so [...]
Bounce Back Loan Liquidation: Options, Risks & Your Next Steps For many UK business owners, the financial impact of the COVID-19 pandemic has led to difficult decisions regarding Bounce Back Loans (BBLs). If your business is struggling to repay its BBL and considering closure, understanding your liquidation options and the risks involved is crucial. Here, [...]
The Ultimate Guide to HMRC Debt Management and Business Debt Introduction: When HMRC Comes Knocking "It's just a temporary cash flow issue." These words echo through thousands of British boardrooms each year, as business owners stare at mounting HMRC tax liabilities. What starts as a delayed VAT payment can quickly escalate into a high-stakes confrontation [...]
Dealing with VAT Debt: Immediate Steps You Can Take Don't Ignore the Problem The first and most crucial piece of advice when facing VAT debt is: don’t ignore the issue. If you cannot pay your VAT bill, failing to act could lead to escalating penalties and further financial difficulties - and lots of stress! HMRC [...]
Closing a Limited Company with HMRC Debts: Expert Guide Realising your limited company can no longer continue trading, especially when HMRC debts are involved, can feel incredibly daunting. If you're facing mounting pressure from unpaid tax bills, letters from HMRC, or the stress of not knowing what to do next, you're not alone. Many business [...]
How to Strike Off a Company in the UK: A Complete Guide to Dissolving Your Business If you’re wondering how to strike off a company in the UK, this complete guide will walk you through every step. Striking off, or dissolving, a limited company is a formal way to close your business with Companies House. [...]