Recent content by Chris Parkman

  1. Chris Parkman

    Closing a Ltd Company

    To Ian Her two main options are to either apply for it to be wound up on equitable grounds or apply to Court for a Court Appointed Receiver, usually on an unfair prejudice basis, to be appointed. In both scenarios she would have to demonstrate to the Court that it would be just and equitable...
  2. Chris Parkman

    Closing a limited company with debt

    I agree with what Chris has said. Key issues are whether you are the only creditor and whether what you are suggesting has any tax implications
  3. Chris Parkman

    Change in partnership

    In terms of the costs and fees, I think that these could be considered business expenses to be split between the two companies, rather than personal. In respect of a line in the sane, I think that will need to be dealt with as part of the agreement, which is why I think a solicitor should be...
  4. Chris Parkman

    Change in partnership

    If the Company is solvent then there should be few issues, other than complying with the requisite Companies Act 2006 rules, which will include board and general meetings being held to pass the necessary resolutions etc. In terms of timing, the transfer of shares and assets would normally...
  5. Chris Parkman

    Personal Guarantee pre marriage

    The Statute of Frauds requires that guarantees needs to be in writing. If your wife has not signed, she is not liable.
  6. Chris Parkman

    Difficult Situation - Any Way Out?

    Hi Vicki If you have paid money back in that will be offset against your DLA. If it has been repaid in full then the S455 tax will be repayable, but will be offset against other crown debts. Therefore the company is unlikely to receive actual funds back. The company appears to be insolvent and...
  7. Chris Parkman

    Small business insolvency expert - can you help?

    I am also happy to help
  8. Chris Parkman

    VAT Debt

    I would recommend that you have a telephone meeting with an Insolvency Practitioner. I do not charge for first meetings, and neither do most IPs, including the other IPs on this forum. It would be better to explore all of the options that are available to the Company with a licensed...
  9. Chris Parkman

    Redundancy claim from Administrator

    The RPS will pay your statutory entitlements, but this are usually less than your contractual entitlements. Therefore you need to submit a claim to the Administrator for your contractual entitlements, less what the RPS has paid.
  10. Chris Parkman

    Company dissolved accidentally - NEED HELP

    If it was me I would leave the Company dissolved and move on.
  11. Chris Parkman

    Is this an asset?

    It will have some value and will be considered an asset. It is also possible for the asset to be valued and purchased from the liquidation, if somebody wished to acquire it. Are you interested in software?
  12. Chris Parkman

    Liquidation with bounce back loan

    It would be too late in my view to classify you and her as an employee. She will just be an unsecured creditor and rank equally with the other unsecured creditors
  13. Chris Parkman

    Liquidation with bounce back loan

    To Roger If she is not an employee then she will not be able to claim from the Redundancy Payments Service. With regards to you, are you paid through the payroll? Do you get a monthly payslip?
  14. Chris Parkman

    Liquidation with bounce back loan

    To Roger Once a company in placed into liquidation you and your wife would be able to claim under the statutory regime with the Redundancy Payments Service. Employees can claim redundancy pay, arrears or wages, holiday pay and notice pay. I would be happy to talk you through the process over...
  15. Chris Parkman

    Insolvency. What next?

    As a Liquidator I would normally look to agree a payment plan over a reasonable time frame, depending on your personal circumstances. Alternatively most liquidators would consider a discount for a cash offer to bring the matter to an end sooner.
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