HMRC restored to secondary preferential for creditors: How does this impact secured lending?

HMRC restored to secondary preferential for creditors: How does this impact secured lending? The Finance Act 2020 (‘the Act’) which received royal assent in July 2020 has returned HMRC to the position of secondary preferential creditor in insolvent liquidations. This change will come into effect on 1 December 2020 and will mean that certain

HMRC restored to secondary preferential for creditors: How does this impact secured lending?2021-07-07T14:42:24+01:00

Struggling businesses during the pandemic: Is insolvency the only option after COVID-19?

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

Struggling businesses during the pandemic: Is insolvency the only option after COVID-19?2021-07-07T14:42:49+01:00

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

The treatment of director’s loan accounts in administration or liquidation: Can DLAs be reclassified?2021-07-07T14:43:13+01:00

UK Corporate Insolvency and Governance Bill: General meetings and restructuring

UK Corporate Insolvency and Governance Bill: General meetings and corporate restructuring A new bill, placed before Parliament on 20 May 2020, has been designed to offer protection to businesses and support the UK economy. The Corporate Insolvency and Governance Bill will allow companies in difficulty to benefit from a range of steps to try

UK Corporate Insolvency and Governance Bill: General meetings and restructuring2021-07-07T14:44:27+01:00

UK Government publishes new guidance on contractual behaviour during the Covid-19 pandemic

UK Government publishes new guidance for contractual behaviour during the Covid-19 pandemic In May 2020, the Government issued guidance on responsible contractual behaviour in dealing with the performance and enforcement of contracts impacted by the Covid-19 emergency. The document is not legally binding, however, parties are strongly encouraged to follow its guidance for not

UK Government publishes new guidance on contractual behaviour during the Covid-19 pandemic2021-07-07T14:49:34+01:00
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