Recent content by smd

  1. smd

    Accrued holidays employee leaving mid month

    I think it's wrong too, as we went on the Government website tool and they said its calculated up to the leaving date. Because the employer has based it on only a full month service, he is saying my husband has took a day too much holiday so they have deducted this. In actual fact, he has a...
  2. smd

    Accrued holidays employee leaving mid month

    My husband worked his notice period and finished on the 26th June. He is entitled to the Statutory 28 Days including bank holidays. He calculated his accrued holidays via the government website which said he had 13.6 which he rounded up to 14 days holiday up to the date of leaving. He had...
  3. smd

    Solvent Liquidation help please

    Thank you. Yes its 4 properties being liquidated, so there is a substantial cash amount to be distributed. There are only 5 creditors. I thought it was to do with the HMRC, as they discussed the tax with my husband so we are aware how much tax we pay. That makes sense.
  4. smd

    Solvent Liquidation help please

    It was a Shareholders Voluntary Liquidation, so we appointed him.
  5. smd

    Solvent Liquidation help please

    Hi, we have already made declaration of solvency and it is not insolvent. All paperwork have been processed, all it is now is waiting for the sale in December, we dont owe very much but what we do owe, we are paying the Creditors. The money will be with the Liquidator on the Sale of the...
  6. smd

    Voluntary Insolvency

    yes, you do have to attend any meetings the liquidator requests, as long as it is reasonable for you to do so. As a Director you have responsibility to assist until the Company ceases. I have been in your position and sympathise how stressful it can be. I probably did more than I needed but I...
  7. smd

    Solvent Liquidation help please

    Hi, I am a shareholder/director of a company that has gone into Solvent Liquidation MVL. We are going our seperate ways and saw this was the best way forward. Basically it is a Holding Company and we have sold the propertys and completion date is set. There is a small amount for creditors to...
  8. smd

    Business in trouble.

    Right we are liquidating the solvent company because there are two families involved in the business and we wish to demerge. Its good for us as we wish to move our new business and free from other shareholders. We will be cash rich new business and will be going into a specialist area so...
  9. smd

    Business in trouble.

    The Property business we are selling is a solvent liquidation. The trading company is an insolvent liquidation. We are using a small firm to liquidate both.
  10. smd

    Business in trouble.

    Its ok thanks, I know what I am doing, been in the business for many years but thanks for your opinion.
  11. smd

    Business in trouble.

    Hi Alan, I said that to my husband that this comes under the Harassment Act. The Company already know that we are not liable and that it is a limited Company. I am going to write to them personally and tell them that their claim is now with the liquidator and that if they harass me any...
  12. smd

    Business in trouble.

    Thank you to all of you for your support and advice, it does help. The facts are on the 22nd March, the bank got back to us and said, no, they felt that we would struggle for the next 12 months. With that, I closed the company there and then and sent the staff home sadly. We have had no...
  13. smd

    Business in trouble.

    thanks Alan. I will bear that in mind. We should be hearing from the Bank today, if no then we may go into CVA and will be seeing our Accountants about that. Your advice is much appreciated. Kind regards, Sharon
  14. smd

    Business in trouble.

    yes, Chris, we are borrowing 60k against the Holding Company worth £500,000. We are trading at a loss at the moment but thats because we owe our Suppliers who have put us on stop till we pay so the bank are aware of that. We are also need some renovation doing in our Holding company with the...
  15. smd

    Business in trouble.

    We are a Limited Company with 2 families running the Business since 1975. The company consists of a Trading Company and a Holding Company. The Holding Company is 4 shops in which we trade. We came to an agreement to demerge. The other family take two shops and we have the other. This will...
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