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One of the main reasons for business failure during recession is late or non payment of debts. If you are struggling to persuade your customers to pay, there are a number of actions you can take to get them to part with their cash. One of the main reasons for business failure during recession is […]
At first glance, the corporation tax deferment scheme sounds an extremely good idea. However, I believe it is important to question whether this policy is simply deferring an inevitable wave of company insolvencies. In November 2008, the Chancellor of the Exchequer announced a fast track service to allow companies to apply to defer their corporation […]
Non payment of Inland Revenue debt will eventually put a business in significant risk. They will in time apply for the issue of a winding up petition. According to a recent report by the National Audit Office (NAO), the amount owed to HM Revenue and Customs (HMRC) in the form of unpaid income, corporation and […]
Unfortunately, with the challenging trading conditions in which many companies are finding themselves, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is not good news for creditors who will find themselves with unpaid accounts. If a company is struggling to pay its debt, it may be at […]
Where a company is struggling partly due to historic debts, the directors may decide the best action is to close the business. However this need not be the end of the road as there is nothing to stop a director of the original business setting up a new company and making a bid to the […]
