Personal liability for HMRC debts
HMRC have got new powers to make directors and shareholders joint and severally liable to a company's debts due to HMRC. This will give directors and shareholder personal liability for…
HMRC get Preferential Creditor Status
The latest Finance Bill received Royal Assent on 22 July 2020. One important element of that bill was HMRC will become a preferential creditor for some taxes including PAYE and…
Is a CVA a viable way to save my company?
As businesses start to think about restarting after lockdown, a CVA may be a useful tool. A CVA, or Company Voluntary Arrangement, is an agreement between a company and its…
Is my company insolvent?
Knowing when your company is insolvent is important for several reasons. The most important reason is that it changes your duties as directors to act in the interest of creditors…