Surviving the UK’s deepest recorded recession The current recession, triggered by the Covid-19 lockdown, is the worst of any experienced by the G7 nations as well as being the biggest UK recession since records began in 1955. Despite growth returning, the effect of such a deep fall in GDP will have an ongoing effect
My business is struggling financially because of Covid-19: what are my options? As the economy struggles to recover from the Covid-19 crisis, many businesses are finding themselves in difficulty. It is important to know what help is available and what the options are if you may be facing insolvency. Government support The government are
The treatment of director’s loan accounts in administration or liquidation: Can DLAs be reclassified?
The treatment of director’s loan accounts in administration or liquidation: Can DLAs be reclassified as remuneration? A recent case has highlighted the dangers of the treatment of a Director’s Loan Account (“DLA”), and the risks to directors of trying to re-categorise their DLAs as salary payments. This can mean that the information previously provided
Bankruptcy and the matrimonial home – what are risks you should be aware of? What is bankruptcy? In its very basic form, where an individual is made bankrupt, their assets will be collected by the Official Receiver or Trustee in Bankruptcy (“TiB”) for the benefit of unsecured creditors. Is your home at risk if