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Latest Articles

IR35 Reforms and Creditors’ Voluntary Liquidation (CVL)

March 31st 2021

How to close your insolvent Personal Service Company IR35 reforms within the private sector, which are due to come into force on 6 April 2021, will transform the way contractors and other off-payroll …

CIGA 2020: Understanding your options when it comes to recovering debt

March 16th 2021

Dealing with late payment is something the vast majority of business owners will have to deal with at some point. Delinquent payers cost companies millions of pounds every year, causing frustration an…

Business struggling due to new Brexit tariffs

February 25th 2021

Our new relationship with the EU has created a problematic trading environment for UK businesses. The deal was only agreed on 24th December 2020, and with our transition out of the European Union taki…

Rescue Options

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Advantages & Disadvantages of a Pre-Pack Administration

March 31st 2020

Advice and considerations for limited company directors on pursuing a pre-pack administration route

The Company Voluntary Arrangement Process – How does it work?

March 29th 2020

A Company Voluntary Arrangement is a restructuring route which can provide an exit from company administration and creditor pressure

What happens to a business when it is sold out of administration?

March 22nd 2020

Selling a business out of administration is carried out through a pre-pack administration which transfers ownership to new business owners

Closure Options

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IR35 Reforms and Creditors’ Voluntary Liquidation (CVL)

March 31st 2021

Strike off a Company vs Business Liquidation

January 15th 2021

Company strike off and business liquidation are two ways to close down a business, but it can be difficult to know which process is the most appropriate. Initially, you need to consider your company�…

What happens when a company goes into liquidation?

March 24th 2020

When a company goes into liquidation its assets are sold to repay creditors and the business closes down. The company name remains live on Companies House but its status switches to 'Liquidation'. Th…

Personal Insolvency

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Insolvent Estates of Deceased Persons – BEWARE!

February 7th 2020

Dealing with the insolvent estate of a deceased person may involve obtaining an Insolvency Administration Order

What is a creditor petition for bankruptcy?

January 15th 2020

A creditor petition for bankruptcy is known as a bankruptcy order which could result in the sale of assets to repay outstanding creditors

Covid 19 Coronavirus

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Coronavirus Act 2020 and forfeiture of leases

February 24th 2021

Commercial rents typically represent a significant expense for businesses, and coronavirus created such economic devastation that, in 2020, the government introduced a moratorium on lease forfeiture by commercial landlords.

Bounce Back Loans – Advances and Further Borrowing

February 23rd 2021

With the economy continuing to be negatively affected by coronavirus, the government has enabled Bounce Back Loans to be topped-up in order to further support smaller businesses in the UK.

What happens to my CBILS loan during liquidation or administration?

January 14th 2021

The Coronavirus Business Interruption Loan Scheme, or CBILS, has offered a valuable source of emergency finance for businesses during the coronavirus pandemic. Backed 80% by the government, the fundin…

Director Advice

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Business struggling due to new Brexit tariffs

February 25th 2021

Our new relationship with the EU has created a problematic trading environment for UK businesses.

What are the available options for directors when facing VAT and PAYE arrears?

February 3rd 2021

Advice for limited company directors managing HMRC arrears for unpaid taxes

Understanding the New HMRC Preferential Creditor Status and Impact on Creditors

December 22nd 2020

Following the accession of the Finance Act 2020, HMRC have had their second preferential creditor status restored. This means that when a company goes into liquidation owing money to HMRC, they will n…

Finance

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What are your alternatives if you cannot get a CBILS loan?

April 20th 2020

As the Covid-19 pandemic threatens to hinder businesses across the country, the government has announced an unprecedented support package to help companies and their shareholders survive these challen…

Emergency Funding through the Coronavirus Business Interruption Loan Scheme (CBILS)

April 3rd 2020

Understanding the Government-backed CBILS and how this could help your business through the Covid-19 pandemic

Does my personal credit score matter when applying for credit for my business?

March 16th 2020

Understanding how your personal credit rating affects your ability to obtain funding for your limited company

Tax

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HMRC Time to Pay Rejections

February 22nd 2021

The Time to Pay scheme, or TTP, helps businesses that are experiencing temporary financial difficulty to repay their tax arrears over a period of time, potentially up to 12 months.

Finance Act 2020: What This Means for Director and Shareholder Liability

January 21st 2021

The recently introduced provisions detailed in the Finance Act 2020 allow HMRC to make directors, shadow directors, and other connected individuals, jointly and severally liable for the tax liabilities of insolvent companies or LLPs in certain situations.

What is HMRC’s power when it comes to tax collection and recovery of debt?

March 31st 2020

HMRC can exercise Direct Recovery of Debt powers to collect owed debts or issue an Accelerated Payment Notice (APN)

Insolvency

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Who gets paid first when a company goes into liquidation?

March 29th 2020

The Insolvency Act 1986 prescribes an order of priority for creditor repayments in the event of company liquidation

What is provisional liquidation?

March 28th 2020

The appointment of a provisional liquidator is allowed under certain specific circumstances. This often occurs after a Winding Up Petition has been presented but before the matter is heard in court.

What happens to company assets after a winding up petition?

March 27th 2020

What are the rules surrounding the transfer, sale, or disposal of assets during - and leading up to - insolvency?

Common HMRC and Debt Enforcement Letters

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HMRC Receivables Management Debt Recovery

March 30th 2020

If HMRC debt recovery services are unable to collect debts, they may issue a warning letter ordering for full debt repayment

Final Proof of Debt Form from The Insolvency Service

March 25th 2020

The Final Proof of Debt Form summarises creditor entitlement for funds during company liquidation or administration

Winding Up Petition Letter

March 24th 2020

What does this letter say? This letter largely features a number of fields which are to be filled in specifically about the company itself. Lower down, it says: “A statutory demand was served on th…

Begbies Traynor Group plc, announces that it has completed the acquisition of CVR Global LLP

CVR is a leading independent firm of insolvency practitioners, forensic accountants and experts in other related complementary disciplines.

Coronavirus pushes financially distressed companies over the half-million mark

Number of businesses in significant distress stands at 509,000 – the highest number measured by the Red Flag Alert research

BTG Advisory accelerates growth with appointment of four new partners to its London office

BTG Advisory, the boutique advisory arm of Begbies Traynor Group announces the appointment of four new partners to its Canary Wharf office

Eighty jobs saved with £1m sale of engineering business

South Yorkshire company Newburgh Precision rescued through administration

Sale enables 75-year-old business to continue trading

Business rescue advice from your local experts

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Advantages & Disadvantages of a Pre-Pack Administration

The Company Voluntary Arrangement Process – How does it work?

What happens to a business when it is sold out of administration?

IR35 Reforms and Creditors’ Voluntary Liquidation (CVL)

Strike off a Company vs Business Liquidation

What happens when a company goes into liquidation?

Insolvent Estates of Deceased Persons – BEWARE!

What is a creditor petition for bankruptcy?

Coronavirus Act 2020 and forfeiture of leases

Bounce Back Loans – Advances and Further Borrowing

What happens to my CBILS loan during liquidation or administration?

Business struggling due to new Brexit tariffs

What are the available options for directors when facing VAT and PAYE arrears?

Understanding the New HMRC Preferential Creditor Status and Impact on Creditors

What are your alternatives if you cannot get a CBILS loan?

Emergency Funding through the Coronavirus Business Interruption Loan Scheme (CBILS)

Does my personal credit score matter when applying for credit for my business?

HMRC Time to Pay Rejections

Finance Act 2020: What This Means for Director and Shareholder Liability

What is HMRC’s power when it comes to tax collection and recovery of debt?

Who gets paid first when a company goes into liquidation?

What is provisional liquidation?

What happens to company assets after a winding up petition?

HMRC Receivables Management Debt Recovery

Final Proof of Debt Form from The Insolvency Service

Winding Up Petition Letter

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