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The latest insights and trending topics from Begbies Traynor Group

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Distraint Notice and Inventory from HMRC

Distraint Notice and Inventory from HMRC. Find out what this means and how Begbies Traynor can provide key advice.

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Late Stage Debt Resolution Letter

HMRC Winding Up Warning – Late Stage Debt Resolution Letter

This letter shouldn’t have come as a shock as HMRC will send a letter of this nature after persistent failure to meet tax liabilities. Having decided ‘enough is enough’, HMRC has issued a final warning of winding up your company, which will now happen in seven days unless you can either pay your outstanding debts, or come to an arrangement with HMRC that will see them paid over time in instalments, i.e. a Time To Pay agreement.

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Invoice Factoring vs Invoice Discounting

Both invoice discounting and invoice factoring are cash flow solutions designed to free up funds for companies that are solvent and operationally sound but which could benefit from a short term cash injection. While they are both forms of invoice financing, there are some important differences between the two processes.

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Pre pack administration vs company voluntary arrangement

Pre pack administration vs company voluntary arrangement. Begbies Traynor is the UK's market leader in business recovery. With over 100 UK offices and over 1000 staff we are well positioned to assist you.

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ESC C16? What is it and what does it mean?

ESC C16 allowed directors to follow a closure process that was both straightforward and tax-efficient but that has changed.

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What are Unsecured Creditors’ rights when a company faces liquidation?

During liquidation procedures creditor interests must be kept to the fore and, as a group, unsecured creditors have certain rights in the process.

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Glossary of Insolvency Terms

Here you will find a glossary of terms that relate to common insolvency terms

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What are the dangers of overtrading?

Overtrading often results from businesses growing more rapidly than their production and cash flow can accommodate, or the late payment of customer invoices. If not anticipated properly, overtrading can lead to insolvency and the closure of a business.

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What happens if a CVA is rejected or its terms are failed?

What happens if a CVA is rejected or its terms are failed? And what are the alternatives?

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What happens to business assets during an insolvency procedure?

One of the jobs of the Insolvency Practitioner is to recoup funds to pay off as many creditors as possible. This is done through a sale of business assets.

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What is a Notice of Intention (NOI) to appoint administrators?

A Notice of Intention to appoint an administrator will halt any legal action from creditors, giving you time to rescue the business from liquidation.

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What is a creditor petition for bankruptcy?

What criteria must be met by a creditor prior to petitioning for an individual’s bankruptcy & what process must they follow?

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How can I reduce the risks of insolvency for my limited company?

There are a number of ways you can mitigate the risks of insolvency as a director. Being aware of the company’s financial position is a fundamental part of your role, and on a practical basis helps you deal quickly with looming issues around company cash flow, for example, or problems in your market that could damage the business.

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Overdue VAT Payment Letter from HMRC

Overdue VAT Payment Letter from HMRC Debt Management & Banking department. Find out what this means and how Begbies Traynor can provide key advice.

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An Insolvent Company Owes Me Money – What Do I Do?

If you are owed money by an insolvent company, your options vary according to the level of debt, and the lengths you are prepared to go to recover your money.

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What is a commercial rent review?

Commercial rent reviews clauses allow landlords to bring their rental charges in line with current market prices, typically every three or four years.

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