Free Insolvency Guides
What happens after a CVL? Creditors Voluntary Liquidation
In this guide, we will explain why a Creditors’ Voluntary Liquidation (CVL) is the most common corporate insolvency procedure in England and Wales. It provides a structured, legally compliant route to close an insolvent company. Understanding what happens after a CVL is essential for directors, creditors and stakeholders affected by liquidation.
What can employees claim when a company goes into liquidation?
When a business can’t reduce staffing costs and faces insolvency, liquidation may be the only remaining option. For employees, though, this spells questions about entitlements – Umbrella.UK Insolvency is here to clarify what’s covered.
What is a compulsory strike off? A guide for UK business
If you’re a UK business owner and have received a notice of compulsory strike off, it’s crucial to understand what it means, why it’s happening, and how to respond. This guide explains everything you need to know about compulsory strike off, how it affects your company and what steps you should take.
Active Proposal to Strike Off â A Small Business Owner’s Guide
If you’ve recently received a notice from Companies House saying your company has an “active proposal to strike off”, it’s essential to understand what this means, and what to do next.
HMRC Payment Plan: A Complete Guide for Small Business Owners
In this guide, we will explain what an HMRC Payment Plan is, who qualifies, how to set one up, and what to do if your application is rejected. We’ll also share real-life case studies and expert advice to help you navigate the process effectively.
A Guide to Overdrawn Directorâs Loan Accounts
Are you withdrawing money from your company beyond salary or dividends? You could have an Overdrawn Director’s Loan Account – and that comes with serious tax and legal risks! Read our comprehensive guide featuring insights from Tom Fox, Head of Insolvency, and a real-life case study to help you avoid financial pitfalls.
A Guide to Why Small Business Owners Delay Seeking Insolvency Help – And Why You Shouldnât
Running a small business in the UK comes with its fair share of challenges. Whether you’re a retailer, construction company or a service provider, the pressures of managing day-to-day operations while making crucial decisions for the future can become overwhelming. Delaying seeking help can often make a bad situation worse.
Guide to S455 Tax â What Directors Need to Know
Understanding S455 tax is crucial for directors and shareholders who take loans from their companies. Managing director’s loans effectively can help avoid unexpected tax bills and compliance issues.
Guide to the TM01 Form: Terminating a Director’s Appointment
If you’re removing a director, you must notify Companies House with a TM01 form, and it needs to be done within 14 days! Not sure how to file it? We’ve got you covered! Our latest guide walks you through the process step by step
A Small Business Ownerâs Guide to Evaluating Insurance Coverage
As a small business owner, protecting your business from financial risks is essential, especially in challenging times. One key way to mitigate these risks is by ensuring you have the right insurance coverage. A thorough review of your policies can reveal potential gaps and help you better safeguard your business.
The Insolvency Service: A Guide for Company Directors
This guide will explain what The Insolvency Service does, how it works, and what company directors need to know if their business is facing financial trouble. We’ll keep it jargon-free and provide real-world examples to help you understand your options.
Setting Up a HMRC Payment Plan
If you can’t meet your tax obligations by January 31st, HMRC offers a payment plan to help you spread the cost. Here’s our guide to how to set up an HMRC Payment Plan.
How to Dissolve a Company â A Guide for Small Business Owners
Whether your company is solvent or insolvent, it’s crucial to understand the options available to ensure a smooth and legally compliant dissolution. This guide will walk you through the steps to dissolve a company, with examples to illustrate each process.
Managing HMRC Debt – The Ultimate Guide for Business Owners
In this guide, we’ll break down everything you need to know about managing HMRC debt, including setting up payment plans and closing a limited company with debts to HMRC.
What is a Director’s Personal Guarantee?
As a company director, some lenders, suppliers and landlords may ask you to sign a Personal Guarantee (PG).
The Ultimate Insolvency Glossary of Terms
Welcome to our comprehensive glossary of insolvency terms, a jargon buster created to help company directors have an understanding of crucial terms when navigating the insolvency process. We’ve included some useful resource links to insolvency and government organisations.
Closing a Limited Company with Debts to HMRC
Let us assist you in navigating the complexities of company closure and HMRC negotiations, so you can focus on moving forward with confidence.
Director Liability – A guide to protecting yourself from personal risk
If your small business is facing growing HMRC debt, creditor pressure, or cash-flow difficulties, this guide will help you understand director responsibilities, when personal liability applies and how to protect yourself.
County Court Judgment (CCJ) Enforcement Options
Have you had a CCJ registered against your Company? If so, how do you protect your company from enforcement of that CCJ?
Understanding the role of Licensed Insolvency Practitioners
A Licensed Insolvency Practitioner possesses the skills and qualifications required to offer guidance on insolvency matters and represent companies, businesses, and individuals navigating financial difficulties.
Get Back to Business
A guide from R3 to dealing with corporate financial distress Act early. Seek advice and get back to business.
Guide to Avoiding Insolvency
This guide will help you diagnose any financial problems in your company and take action to avoid insolvency before it is too late.
What is the Bounce Back Loan Scheme (BBLS)
The Bounce Back Loans (BBLS) are loans of up to £50k, 100% backed by the government, with no personal guarantees and quick and easy to apply for.
What is a CVL?
A CVL is a formal process for voluntarily winding up a company when it is insolvent.
What is a CVA?
Company Voluntary Arrangement (CVA) is an alternative to liquidating your company allowing it to trade out of its financial difficulties over a specified period of time
What is an MVL?
Depending upon how much cash there is left, using a Members’ Voluntary Liquidation (MVL) could be the most tax-efficient way to close your company and save you thousands of pounds.
What is Administration?
Administration is a formal procedure in which an Insolvency Practitioner can be appointed to take control of the company’s affairs whilst a plan to rescue, sell or liquidate the company is prepared.
What does a Winding Up Petition mean?
Having a winding up petition served against your business doesn’t have to mean the end of the road for your company, but you do need to act quickly.
Insolvency Fee Guides
The shareholder and creditor fee guides can be found in our Resources hub.
