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Blog Posts for Business Recovery & Insolvency

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Illegal Dividends and Loan Accounts – Ignorance is not an Excuse

Posted by Jerry O’Sullivan on 10/1/2013

It is common practice for a company director/shareholder to take the majority of their pay as dividends with either no salary or a very low one and yes, the director has saved money from going to the taxman, but is this really the answer? 

Often, dividends and drawings are treated as loans from the Company. The dividends are then later declared at ...

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Why Members' Voluntary Liquidations can be more beneficial than an Informal Strike Off

Posted by Jonathan Williams on 2/7/2013

There are many reasons why the owners of a solvent company would want to bring their company to an end. For example, if a company is within a complex group structure it may simply no longer be required or the shareholders in a family owned company may be on the brink of retirement.

Whether the company is owned by a corporate entity or private ...

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HMRC on the attack!

Posted by Jerry O’Sullivan on 1/30/2013

HMRC are getting much tougher on business with arrears of tax and VAT.

Statistics show that the numbers  of distraint  on companies' assets have increased by 100% over the 12 months to April 2012.  In addition the  petitions to wind up companies have increased by over 50% during the 12 months to March 2012.

HMRC's tough line has also surfaced in the new VAT ...

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