Company Focus’ Advice Centre

Tips and information about dealing with business debts

Winding Up Petitions

A winding up petition should be taken very seriously as a court order to place a business into compulsory liquidation follows.

Winding-up petition by HMRC

HMRC Winding-Up Petition

HMRC has a statutory requirement to maximise tax revenue, however is a it is not in their remit to shut down companies without considering proposals for a compromise.

Bailiff Overview

A bailiff is a person that, with the authority of a court order, will arrive at your place of business collect overdue debts.

Who Pays For A Company Liquidation?

Liquidation fees can be paid from company assets, from director’s personal funds or sometimes, from redundancy payments.

Voluntary Liquidation – What You Need To Know

A Company Voluntary liquidation (CVL) is a formal method of closing down insolvent business

Paying Back Bounce Back Loans

What happens if I can’t repay? Do I have to pay this back myself if the Company cannot?

When You Shouldn’t Try To Dissolve Your Company

If your company has debts that you are struggling to pay then you need to take the advice of a qualified professional before going down this route.

Strike Off Application Or Creditors Voluntary Liquidation?

Liquidation and Strike Off applications are two processes for closing a business. Understanding them helps achieve a smooth closure.

Investigating Directors Of Dissolved Companies.

As of May 2021, Insolvency Service has powers to investigate directors of companies that have been dissolved.

Extension of Government business support – Update June 2021

Restrictions on statutory demands and winding up petitions will remain until 30 September 2021

Is My Company Insolvent?

There are three insolvency tests to establish if your company is insolvent.