insolvency

  1. T

    Self Employed Commissions not paid by Company. Company going into insolvency

    Hoping for some advice please. I worked for a company for 5 years on a self employment basis and left last month on what felt like good terms. I was due an outstanding amount due to be paid to me of over £10,000, where it was agreed that half would be paid last month and the remaining half...
  2. D

    Company liquidated after CCJ to avoid debt - legal advice

    Hi, We leased a commercial unit (that we own on a private basis), to a Ltd company who have failed to pay us rent. The contract was in the Ltd company name AND the two directors personally. We took civil action for the recovery of the debt and were granted the judgment. We did this against...
  3. Dazzler66

    HELP!!!!!! looking for some guidance or empathy around my dire situation!

    Hello, I’m very nervous and I am very sensitive to being judged for what I’m about to post as this feels so hard for me to open up. I know I did some stupid things that have led me to this point. I suffer from really poor mental health, very poor in fact! Ok here goes. I have only ever...
  4. H

    Closing company

    Hi all, Another novice question but would love thoughts on closing a company. I’ve read a lot of different cases here and suggestions but I’ve finally decided to just register an account and here your thoughts. Context: the company is a limited company created December 2022, has 1 employee...
  5. S

    Advice needed on an unfaithful commercial landlord issues for rejecting my payment plan proposal

    Since 2021, I have been diligently trying to establish a payment plan with my landlord to address the outstanding rent owed than (£14,000). Regrettably, all my attempts to engage in meaningful dialogue and reach a mutually agreeable solution have been met with silence. Despite sending numerous...
  6. G

    Insolvency - worried about liabilities.

    Hi, I run a small one man band limited company. We've had no issues at all since inception 8 years ago, though 2023 has proven to be a nightmare. The company offer IT services - I've tried to grow it, though since Covid the company would be indistinguishable from an IT contractor ltd company...
  7. Jojo210

    My Business Has Failed and I Don't Know What To Do?

    Hi there. My Limited Company has loads of problems and I just don't know where to turn. I took a bounce back loan during covid. Unfortunately 3-4 months after taking the loan my younger sister died unexpectedly and since then I've been severely depressed. The business which was doing really...
  8. H

    Another insolvency situation

    I have read the various threads on insolvency as sadly this is where my business is heading. I have a question that I am hoping I might be able to get some advice on please. It’s really about if I can use the SpongeBob method as I do have a few assets, however I am struggling to dispose of...
  9. J

    Dissolved via compulsory strike-off action but still trading?

    Hi there, I've been looking to employ some tradespeople to carry out work and have come across a company that seems to be able to do this, but after some DD I noticed on companies house the filing history for said limited company says it was dissolved via compulsory strike-off action back in...
  10. E

    Overview of insolvency

    Hi all I'm looking at understanding insolvency processes from the intelligent layman's point of view. Are there any standard books I can get to help? When I read up on law, I find first-year-undergrad or revision resources are helpful. Any comparable recommendations on insolvency would be...
  11. G

    Directors redundancy payments timescale,

    Hi, just wondered if anyone knew or had experience of how long it actually takes to receive the letter and payment for Redundancy from the Redundancy Payments Service. It has been a painful process but the employees have now started to receive their the only info I can get is that it takes longer.
  12. H

    Chinese Trade Creditor - Liquidation

    My LTD company is highly likely to become insolvent in the next month or two. One of the companies liabilities is an unpaid invoice to a Chinese supplier for £32000. Does anyone know how this debt would be treated during a liquidation?
  13. S

    Surrendering a commercial lease early HELP please desperate

    Hi all we took a property on and our break clause is not till next year but we have been in trouble for a while , I have spoken to the organisation whom let us the property they are very formal and legal we are just a sole trader, Finally after my begging and the fact I had to borrow rent from...
  14. Lisa Thomas

    Interesting Article re attempt to reclassify dividends as remuneration

    Thought I would share this article as it is a regular subject. I wish I could conduct all my meetings at The Ivy...! https://www.ashfords.co.uk/news-and-media/general/overdrawn-director-s-loan-account-cannot-be-reclassified-as-remuneration-when-it-suits-bass-v-buchanan-considered
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