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Section 1003 of the Companies Act 2006 gives company Directors the authority to apply to strike off their company. Striking a company off and putting a company into liquidation are two different forms of dissolution and when considering the most beneficial way to wind a company down, it is important that you are aware of…
Directors Offences in Liquidation When a company is placed into liquidation, either via a Creditors Voluntary Liquidation or a Compulsory Liquidation, the conduct of the directors will form an integral part of the investigations made by the office holder. Most directors are not even aware of their duties as a director of a limited company…
Variation Meetings for IVA’s An Individual Voluntary Arrangement (IVA) is a debt solution available in England, Wales and Northern Ireland and is available for individuals who have a minimum debt value of £4,000. An IVA is a legally bound agreement between the individual and their creditors with the debtor having a duty to adhere to…
Tax Changes Affecting Your Suitability for a Solvent Liquidation As at 6 April 2016, changes brought about by the Finance Bill 2016 have been implemented to prevent tax avoidance by shareholders of companies utilising the solvent liquidation process to obtain a tax advantage. HM Revenue & Customs consider that utilising the solvent liquidation process just…
The Criterion Restaurant in Piccadilly Circus has called in Administrators due to a steep rise in its rental costs. The article states that the rent has been increased by some 60% from £525,000 to £850,000 a year, a fee which the 141 year old business is unable to afford and subsequently rent arrears of £517,000…
New rules which are to be implemented within the Football League will now ensure that unsecured creditors receive at least 25% of their debt. The Football Creditors’ Rule, which guarantees 100% repayment of debts to clubs and players for transfers and wages, will be retained, however these new rules will attempt to increase the return…
Annual Insolvency Seminar On June 10th 2015 DCA Business Recovery LLP will be holding our annual Insolvency Seminar at Hylands House, Chelmsford. This event is free to attend and will look to provide more information on a few key Insolvency topics. Our guest speaker this year will be Marc McLennan of Sport and Star Autographs,…
Changes to Fee Disclosure by Insolvency Practitioners With effect from 1 October 2015, insolvency practitioners’ will be required to provide additional advance information to creditors prior to having the basis of their remuneration approved. The Insolvency (Amendment) Rules 2015 (SI 2015/443) were laid before Parliament on 3 March 2015, and the requirement to provide the…
Southend Young Professionals Networking Event Thursday 26th March 2015 – 5.30pm @ East Coast Social Southend Following the successful launch of the new Southend Young Professionals Group Networking Event in January, DCA Business Recovery, Rickard Keen Chartered Accountants and BTMK Solicitors are pleased to invite you to the next event where young professionals from Southend and the surrounding areas can…
Upcoming Event – June 2015 Free Insolvency Seminar @ Hylands House – To Be Confirmed