Articles Hub
The latest insights and trending topics from Begbies Traynor Group
What is an Independent Business Review?
An Independent Business Review (IBR) is a process initiated by a bank or similar institution if they have concerns over the financial health of a borrower.
I’m unhappy with the choice of the company's insolvency practitioner – can creditors appoint a new one?
The directors of a failing company are likely to approach a licensed insolvency practitioner initially, for advice and guidance on their options. If a formal insolvency procedure is decided upon, they will need to appoint a licensed IP to administer it.
Notice of Distress Warrant
A Notice of Distress letter is the consequence of a lengthy period in which you or your company has failed to meet liabilities on time and, as a result, the creditor is seeking repayment through the use of a third-party debt recovery agency.
What is the difference between a fixed and floating charge?
Both fixed and floating charge holders are classed as secured lenders; however, there are some important differences between these two types of charges.
Tax Efficient Way to Dissolve a Business Partnership
Begbies Traynor provides guidance on the dissolution of a business partnership, such as a limited liability partnership, and the potential tax implications.
What level of debt is healthy for a business?
Used incorrectly debt can be disastrous to a company. However there is a ‘healthy’ level of debt, or ‘gearing’ that allows companies to achieve long-term growth
Reuse of a company name following liquidation
If your company has been liquidated and you are in the process of setting up a new business, you may be tempted to use the same, or a similar name, for your new venture.
Understanding employee redundancy during liquidation
Understanding the rights of your employees in redundancy is an important part of any insolvency procedure. Here we look at what happens during various administration and liquidation processes, plus the way in which redundancy entitlement is calculated.
Understanding company rescue in Scotland with advice for directors
If your company is registered in Scotland and is experiencing financial problems and potential insolvency, there are potential rescue options available.
How Can You Spot The Signs Of A Customer Or Supplier In Financial Distress?
The ability to spot when a customer or a supplier is in financial difficulty is extremely important in safeguarding the stability of your business.
What happens at a winding up petition hearing?
A winding up petition hearing includes assessing evidence of existing debt, attempts to recover the funds by the creditor, and creditor motives.
Walking Possession Agreement Letter from HMRC
A Walking Possession Agreement (WPA) will follow on from an HMRC Distraint notice, five days after the distraint was issued.
Understanding Company Distraint and Notice of Enforcement
If your company owes money to HMRC or another creditor and you have been unable to settle the debt, they may take out a Distraint Order against your company. This involves the seizure of goods to the value of the debt, plus the fees for enforcement action.