Whilst most businesses are now able to operate without restriction and COVID-19 regulations have now mostly been relaxed to guidelines around the UK, the lasting financial effects of the pandemic are still a major concern for businesses of all sizes and sectors. Needless to say, many SMEs in the retail and hospitality sectors have been…
Tag: Insolvency
How to Liquidate Your Freelance Business
Are you a freelancer running your business through a limited company? At some point, every freelancer will want to close down their business, and in many cases, a freelance business will be closed with a liquidation process. Even if a freelancer trading as a limited company is successful and their business is making a profit,…
Tips to Follow for Buying a UK Company In Administration
Of the insolvency processes available for a trading business, administration is the most common. When a company goes into administration, it can still continue to trade legally whilst an appointed administrator (licensed insolvency practitioner) works to rescue the company that has become insolvent. In some cases, the best cause of action is for the administrator…
What is an Insolvency Practitioner?
An Insolvency Practitioner, often referred to as an IP, is a financial professional who is licensed to act on behalf of businesses and individuals when they are experiencing financial difficulties and/or facing insolvency. The majority of the time, IPs are approached by companies who are in need of help in saving or closing their business,…