When a company’s liabilities exceed their assets and they are unable to repay all money owed to creditors (even if they were to sell off all assets), they are legally insolvent. The consequences can be severe and in some cases, a company may not be able to recover, so it’s important to be aware of…
Author: Virgil Nguyen
How can Insolvency Practitioners help a Solvent Company
It’s a fairly common misconception that liquidation is a process that is applicable only to insolvent companies, as a way to release assets to pay creditors. Many people also assume that insolvency practitioners can only help businesses that are insolvent. The truth is that liquidation can also be an option for a solvent company and…
Members Voluntary Liquidation – To MVL or Not to MVL?
Are you at the stage where you are ready to wind up your company and are looking for the most tax efficient way to do this? If your cash reserves are in excess of £35,000, you could pay just 10% tax on your profits through a Members Voluntary Liquidation (MVL). In the current economic climate,…
Why a commercial cleaning franchise is ideal for those not ready to fully retire
For many people, plans for retirement are centred on reaching the state pension age, but as this keeps creeping up and market uncertainties set in, it isn’t always the only option. People are living longer, healthier lives and with this comes to the need to provide sufficient retirement funds and keep the mind active. For…
How office cleaning services support employee health during winter
Winter is typically the season we associate with poor health. The cold weather can exacerbate some conditions and the use of heating indoors makes a breeding ground for germs. We have also learned the hard way that Coronavirus thrives in the cold weather, causing problems for employers in terms of staffing levels and protecting others…
Rubber Moulding: Choosing the Right Moulding Process
Both natural and synthetic rubbers can be manipulated into different forms, both simple and highly complex. Through a range of manufacturing processes, engineers within many sectors have turned to the durability and versatility of rubber to design and manufacture a range of industrial products for purposes including sealing, cushioning and impact reduction. One of the…
How to Plan a Washroom Design Which Caters to Everyone
In the workplace, the washroom needs to be a sanctuary for your team where they can freshen up to revive themselves throughout a long working day. However, this cannot work if your washroom has not been adapted to meet a range of needs. Whether you are looking to plan a more inclusive washroom design or…
The Importance of Domestic Cleaning Insurance for a Domestic Cleaning Company
If you are running a domestic cleaning business or considering starting your own cleaning company, domestic cleaning insurance is essential if you are to run your business honestly and legally. In a sector that is unregulated, there are many individuals working illegally, performing cleaning services for cash in hand payment, which puts not only cleaners,…
Continued Growth In The Food Packaging Machines UK and Global Markets
Despite the challenges that recent years have imposed on businesses in all sectors, the demand for food packing equipment increased in this time and continued growth is forecasted in the food packaging machines UK and global markets. Between 2022 and 2031, the global food packaging equipment market is predicted to grow at a CAGR of…
What Debts Could Directors Involved in a Company Using a Prohibited Name Be Liable For?
Defined under Section 216 of the Insolvency Act 1986, a Prohibited Name is a company name that is either identical to, or very similar to that of an insolvent company, suggesting an association with that company. Under Section 216, other than in certain circumstances, anyone who has been a director of an insolvent company within…