The BCR Insolvency Blog

Hidden Aspects Of Minimum Wage

Posted by Chris Knott on 23-Jul-2019 10:00:00

With the annual increase in minimum wage, it shouldn’t come as a surprise that more and more companies are being caught underpaying their staff.

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Topics: HMRC

Managing Minimum Wage When You're in Financial Distress

Posted by Chris Knott on 22-Jul-2019 09:06:26

In recent years HMRC has been actively seeking out hearings involving breaches of the National Minimum Wage Act. These are part of a nationwide inspection campaign being run by the Government to enforce the national minimum wage. As a result, HMRC identified a record 15.6 million underpayments in 2018. This high-profile case has helped clear away some of the confusion around minimum wage deduction laws.

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Topics: HMRC

Is It Possible To Liquidise A Company Yourself Without A Professional?

Posted by Chris Knott on 09-Jul-2019 17:05:50

If you are in a position where cash flow can no longer support your business, it may be time to consider liquidation. In today’s turbulent world, there is little stigma attached to a company reaching this stage. External forces are complex and unpredictable, and no organisation is immune to the risk.

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Topics: Liquidation

How Does Liquidation Work For 50/50 Shareholders?

Posted by Chris Knott on 28-Jun-2019 10:49:52

When there is a dispute at the heart of a company, it can be confusing, traumatic, and difficult to resolve. One party wants to abandon ship, the other is desperate to continue.

If one director in a 50/50 shareholding wants to liquidate and the other does not, stalemate, tensions, and dark clouds quickly follow.

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Topics: Liquidation

Everything You Need To Know About Liquidation Preferences

Posted by Chris Knott on 20-Jun-2019 12:56:32

Your company is entering liquidation. All eyes are focused upon the situation, and everybody has questions.

One of the most important ones is who is going to get paid? What is the pecking order when it comes to dissolving assets?
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Topics: Liquidation

Are Turbulent Business Times Ahead?

Posted by Chris Knott on 16-May-2019 12:49:23


All the political and economic indicators tell us that we are probably looking at some turbulent trading times over the next two or three years, with the uncertainties regarding Brexit and the possibility of a General Election (with or without a General Strike!)

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Topics: Business Rescue

9 Danger Signs That Your Business Is Insolvent

Posted by Chris Knott on 21-Dec-2018 10:15:29

Insolvency. It’s not a word anyone wants to hear. Yet with the global financial climate in turmoil it is a subject that many have to approach at some stage during their company’s journey.

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Topics: Insolvency Practitioner

What Does A Business 'Going Into Administration' Actually Mean?

Posted by Chris Knott on 28-Nov-2018 11:54:00

Going into administration, or when a company “calls in the administrators”, is a legal process whereby the company hands over control to an insolvency practitioner, who acts as an administrator. Creditors may not take legal action against the company during the period of administration, and cannot apply to have it wound up, without the consent of the court or the administrator.

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Topics: Administration

Advantages & Disadvantages Of Putting Your Company Into Administration

Posted by Chris Knott on 20-Nov-2018 11:32:00

A company may consider administration as an alternative to liquidation if it believes things can be turned around. Therefore, it is an option for potentially viable businesses, which can deliver the best possible outcome for all stakeholders if it is successful. A successful administration can result in a solid business that is trading profitably and can engender confidence that its affairs are under control and that its prospects for continuing success are based on solid foundations.

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Topics: Administration

I Can’t Meet My Business Debt Liabilities: What Can I Do?

Posted by Chris Knott on 14-Nov-2018 10:49:54


Even the best managed companies sometimes hit a rocky patch where mounting debts can no longer be paid through cashflow or normal financing. This is commonplace and no cause for embarrassment. Many would say that it is simply a part of doing business.

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Topics: Liquidation

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