Insolvency Blog
When a corporation goes into liquidation, its assets are sold to repay creditors, and the business has to close down. The firm name remains on the register at Companies House, but its status has changed to ‘Liquidation’, which should be noted in your privacy policy. The name is removed from the register only upon dissolution,…
When a firm operates as a going concern, it signifies that it is likely to continue trading for at least 12 months without the prospect of liquidation. The company is not at risk of failing due to insolvency, but it can be counted on to survive and thrive for the foreseeable future. If a firm…
If you run a franchise through a limited company, there may come a time when you want to close the business and explore a new venture. This can be accomplished through a liquidation process, whether a CVL or an MVL, depending on the company’s liquidity at the time of closure, and the termination clauses within…
The goal of a members’ voluntary liquidation (MVL) is to wind up a solvent limited company and distribute the assets to the owners as capital rather than income, resulting in lower personal tax rates. Shareholders, understandably, want such distributions and business dissolution to happen as soon as possible after the appointment of an insolvency practitioner…
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ICO. Registration reference: ZB590513
Company Number: SC727432
Penny McCoull is licensed to take insolvency appointments in the United Kingdom for McLaren Insolvency Practitioners Ltd by the Institute of Chartered Accountants of Scotland. Her Office Holder number is 9544.
© 2024 - McLaren Insolvency Practitioners | All rights reserved
Privacy Policy | Complaints Policy | Provision of Services
ICO. Registration reference: ZB590513
Company Number: SC727432
Penny McCoull is licensed to take insolvency appointments in the United Kingdom for McLaren Insolvency Practitioners Ltd by the Institute of Chartered Accountants of Scotland.
Her Office Holder number is 9544.
