What is a recession?

As the news hits that we have entered a recession. We thought it would be beneficial to explain what a recession actually is. A recession signifies a prolonged period of economic decline, typified by a contraction in Gross Domestic Product (GDP), heightened unemployment rates, and decreased consumer spending. This economic downturn stems from various factors,…

Illegal Dividends to Directors, when Insolvency Occurs

Illegal Dividends to Directors, when Insolvency Occurs In this present time of uncertainty, with most companies having severe cash flow problems, it is worth pointing out that when a company goes into liquidation, HMRC are looking at recuperating monies to creditors by looking at illegal dividends taken by directors in the period prior to insolvency.…