On the face of it, the corporation tax deferment scheme seems like an extremely good idea. It is important to ask the question whether this policy is simply deferring an inevitable wave of company insolvencies.

Not paying Inland Revenue debt will eventually put a business in significant risk. They will in time apply for the issue of a winding up petition.

Unfortunately, with the challenging trading conditions in which many companies are struggling with, the use of procedures such as company voluntary arrangements is likely to become increasingly common. This is bad news for creditors who will find themselves with unpaid accounts.

Where a company is struggling financially partly due to outstanding debts, the directors may decide the best action is to close the business. However this need not be the end of the road as there is nothing to stop a director of the original business setting up a new company and making a bid to the liquidator for any or all of the assets which can then be used in the new enterprise.

More recently, creditors have started to use winding up petitions specifically as debt collection tools. Rather than issuing a county court judgement which could then be ignored, creditors are choosing to issue the winding up petition because of the immediate pressure that this puts on the company to pay the outstanding debt. Given these serious implications, as a company director, it is very important for you to know what actions you can take.

When a business is seriously struggling to pay outstanding debts, the directors often ask me whether they can just shut up shop and wait for HMRC to follow through a Winding Up Petition. Why is it not a good idea to start a new business while the old company is in limbo?

If your company is in trouble and you are looking for ways of preserving investment cash, a company voluntary arrangement could be a more affordable rescue solution than pre pack administration

Company Administration in theory allows a business time to make a strategic review and implement significant changes to put it back onto a sound footing. Legally Customers and suppliers must be told of the company's position and this will start to cause them to consider other options making the object of the Administration harder to achieve. This article looks at the issues and alternatives of Company Administration.

Facing Administration? Quite concerned and want to understand what administration is and what it might mean for your situation.

A Winding Up Petition could have serious consequences for you and your business. It is therefore very important to understand what a Winding up Petition is and the implications of receiving one.

More and more businesses are finding that they have been issued with a County Court Judgment commonly known as a CCJ. The purpose of this article is to explain what a County Court Judgment is, why they are issued and what the implications of receiving a County Court Judgment are.

I frequently come across examples of small business owners or directors who use personal borrowing to supplement their business cash flow. In the current climate due to the effects of the credit crunch, it is getting more difficult to obtain personal credit. This article looks at what can be done about this

On the face of it, a Company Voluntary Arrangement is beneficial for both the company and its creditors. It allows a company which might otherwise have failed and been wound up to continue to trade. Despite these potential benefits, many insolvency professionals believe there is significant chance of early failure of the arrangement and therefore view Company Voluntary Arrangements with scepticism.

Traditionally, winding up was initiated by a creditor because they believed that a company was not in a position to pay its current outstanding debts. Over the last 12 months I have seen more and more creditors using winding up petitions to force creditors to pay outstanding debt.

Soaring gas and electricity prices have forced thousands of people to fall into the misery of energy debt. The latest figures released by energy regulator Ofgem (21 January) reveal an alarming climb

A debt "stress test" is a method of determining if one's finances are sturdy enough to handle an unexpected shock such as unemployment, extended illness, or divorce. Many Melbourne mortgage brokers wi

With economic indicators fluctuating wildly, it's impossible to know when the economy will recover; so many households are still struggling with the task of making ends meet. With the foreclosure rate

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Having trouble managing your credit? Are you feel overwhelmed with payments and feeling like little of your hard earned money is even going to pay off the principal of the debt? Consumer credit counse

There is no doubt that bankruptcy can provide much-needed debt relief, particularly if you are overwhelmed with debt problems. However, it is normal that you might be concerned about its potential imp