Limited Companies

When companies are struggling to pay their debts and cashflow is tight, they often have a range of concerns and questions. I have helped hundreds of directors; these are the most common questions I get asked.

Liquidating a company is a complex process involving the winding up of its affairs, selling off assets, and settling debts. Directors and stakeholders need to understand the steps and considerations involved to navigate this challenging process effectively.

If you can't afford an insolvency practitioner, try voluntary strike-off, negotiating with creditors, or debt charities. However, an Insolvency Practitioner is ultimately valuable.

When a company is liquidated, directors' loans are scrutinised, and their treatment depends on whether the director owes money to the company or vice versa. Directors should manage these loans carefully to mitigate financial risks.

To support directors during this challenging time, I ensure they have my direct contact details. I understand that questions and concerns can emerge outside regular working hours.

In this article, we will delve into the different scenarios that may lead to the closure of a limited company and examine the implications on directors, focusing on personal liability and director's loans.

Is it possible to liquidate a limited company and open a new one? Yes, it is, but it's essential to consider legal, financial, and practical implications.

Restaurateur, Heston Blumenthal, has called for new measurers to be put in place to stop identify fraud being committed through Companies House. The scammers are setting up a limited company under a similar name to the group and then taking advantage of the brand to receive goods or using overdraft banking facilities.