Keep up to date with all the latest goings on at White Maund.
Where a company has fallen behind with Tax or VAT payments but hasn’t yet been passed to EIS (Enforcement & Insolvency Service), there is still time to negotiate a time to pay agreement (TTPA). A company can apply to HMRC for a TTPA if the debt has fallen due within the last 30 days. If […]
In this blog post we look at HMRC recovery processes and some of the practical issues that we see on a day to day basis when a company (or individual) falls behind with tax or VAT affairs. HMRC is more often than not the unwitting creditor in an insolvency process usually with a significant, if […]
Last night a team from White Maund were delighted to attend a fundraising quiz in aid of Sussex Cancer Fund, orgainised by Consortium Business Solutions. While they didn’t win, the team known as Quizzie Rascals, formed by Neil Hoad, Billy Poulton, Jamie Pain and Alex Grinyer, did come a respectable second. The quiz raised £300.55, […]
HMRC are running a test case to challenge one of the traditional approaches of dealing with an overdrawn Director’s Loan Account (‘DLA’) when entering a Members’ Voluntary Liquidation (‘MVL’). At the end of a company’s useful life, if it is solvent, it is normal practice to place it into MVL to enhance the tax position […]
With the end of the tax year only one month away, now may be the time to consider putting a company through a solvent restructure otherwise known as a Members’ Voluntary Liquidation (MVL). Where the company has assets in excess of £25,000, by using the MVL process, shareholders can gain advantageous rates of tax on […]
Good News…… We are often viewed as the Grim Reaper of the business world, only called upon when a company is in dire need. But it is not all bad news, the role of an Insolvency Practitioner is damage limitation and making the best of a bad situation, often saving a company or securing the […]
Well the quick answer is ‘it depends’… If you want to re-use a company name after it has become insolvent, care must be taken to ensure you keep within the rules, or you could face criminal proceedings and become personally liable for the successor company’s liabilities. When is a name prohibited? Section 216 of […]
Following the collapse of Carillion in what could be one of the largest insolvencies our profession has seen, the directors of the company have been ordered by the Work and Pensions and BEIS committees to give evidence as to why the company went into liquidation with liabilities estimated to be in excess of £1.5 billion. […]
Employee claims in insolvency When the decision is made to place a company into an insolvency procedure and some or all of the employees are made redundant, this can leave employees in an extremely precarious situation. As a consequence of the employer being insolvent, in many cases employees are faced with not only losing their […]
Every year the Staff at White Maund choose a charity to support for the year. Their charity year ends on 31st August which means it’s time to total up the donations for their nominated charity the Great Ormond Street Children’s Charity. Staff fundraising is done through a dress down day once a month by which […]