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The latest insights and trending topics from Begbies Traynor Group

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A-Z of Offshore Insolvency, B is for Bonds

Bonds are essentially IOUs issued by companies or governments to raise capital: investors buy bonds from the issuer company, becoming creditors who then receive periodic interest payments. The principal amount is returned when the bond matures.

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A-Z of Offshore Insolvency, A is for Agents

Agents, and, more specifically, Registered Agents are the topic of the first article in this series.

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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.

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Can a UK company remove a County Court Judgment?

Removing a County Court Judgment (CCJ), also known as having a CCJ set aside, can be done under specific circumstances but taking early action is key.

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What is a Restructuring Plan for UK companies?

Restructuring plans are the latest addition to the corporate insolvency sphere, allowing a company to enter into a "compromise or arrangement" with creditors.

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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.

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If my company is liquidated, am I personally liable for product guarantees and warranties?

If my company is liquidated, am I personally liable for product guarantees and warranties? We offer advice on your liabilities during a liquidation process.

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What is a HMRC security bond for VAT, PAYE or NI?

Where HMRC feels there is a risk of non-payment of tax from a company, they may request a security bond is paid before trading can start or continue. This is done by issuing a Notice of Requirement in respect of VAT, PAYE, or National Insurance.

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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.

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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.

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Understanding creditors’ rights to form a liquidation committee

Find out more about the establishment and running of a liquidation committee during the liquidation process.

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Wind up a limited company with or without debts?

The winding up process will be determined by the financial state of the business - is it solvent or insolvent? Liquidation can be voluntary or compulsory.

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What is a Validation Order in business?

A validation order authorises and ‘validates’ transactions going through the bank account of a business which is subject to a winding up petition (WUP)

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Understanding the Standalone Moratorium for UK Companies

A standalone moratorium is separate to any formal insolvency procedure giving a company breathing space from creditor action while a recovery plan is devised.

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What is a Corporation Tax Liability?

All registered companies in the UK must pay corporation tax on their profits. The rate of corporation tax varies between 19% and 25% depending on the level of profits of the company.

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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.

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