Business Bankruptcy: Common Concerns for UK Company Directors – What You Need to Know Facing financial distress as a company director in the UK is stressful. Whether it’s concerns over personal liability, the risk of disqualification, or the potential for personal bankruptcy, understanding your position is crucial. At Anderson Brookes, we provide clear, practical advice [...]

Navigating Corporate Insolvency: Essential Steps for UK Firms in Financial Distress Understanding Corporate Insolvency Corporate insolvency occurs when a company cannot meet its financial obligations. It is governed by specific legal frameworks and indicated by various financial warning signs. Recognising these indicators early can be crucial for businesses to take corrective action. Definition and Legal [...]

Can I Pre-Sell My Assets Before Liquidation? As a company director facing financial difficulties, you may wonder about your options for managing assets before entering liquidation. It's important to understand that you can indeed sell your company's assets prior to initiating the liquidation process. This approach can be a viable strategy, provided you adhere to [...]

Does Going into Liquidation Affect Your Credit Score? When you're running a limited company, it's natural to have concerns about how its financial affairs might impact you personally. One question that often arises is whether liquidating a company will affect your credit score. The good news is that it typically doesn't. Limited companies are separate [...]

If your business is struggling financially, liquidation might seem like the only solution. However, before making this decision, it’s important to understand the potential challenges. As a director, you need to be aware of key risks and how to handle them. Free Consultation – advice@andersonbrookes.co.uk or call on 0800 1804 933 our freephone number (including from mobiles). Types of Liquidation [...]

Can I Close My Company and Start Another? When facing financial difficulties with your limited company, you might wonder about your options for starting anew. While it's possible to close your current company and establish another, you need to tread carefully to avoid legal pitfalls. You may also find this article useful on phoenix companies. [...]

Winding Up Orders: Essential Steps for Business Liquidation and Creditor Protection What Is A Winding Up Order? A winding up order is a legal directive that forces an insolvent company to cease operations and liquidate its assets. An insolvent company is a business that can’t pay its debts when they’re due or has liabilities greater [...]

Tax Implications of Striking Off a Company: Essential Considerations for Directors This article will provide essential guidance for directors navigating the strike-off process, focusing on the critical tax considerations that must be addressed before proceeding. We'll discuss the importance of settling all outstanding tax liabilities, closing bank accounts, and understanding the potential tax implications for [...]

What's the Difference Between Striking Off a Company and Liquidation? When closing your company, you have two main options: striking off or liquidation. These processes serve different purposes and have distinct requirements. Striking off is suitable for companies without outstanding debts or legal issues. The process takes about three months, during which your intent to [...]