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Glossary of Insolvency Terms

Glossary of Insolvency Terms

We have introduced a glossary of some of the terms used on the main website....

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How can I legally take money out of my limited company?

How can I legally take money out of my limited company?

When you set up your limited company, you may think you can dip into your...

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Joint and Several Liability in Partnerships

Joint and Several Liability in Partnerships

Joint and several liability implies that all members are liable for the...

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man holding insurance document

Personal Guarantee Insurance (PGI) What is it?

Personal Guarantee Insurance helps out those who have signed a personal...

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Director's Personal Liability For Company Debts

Can A Director Become Personally Liable For The Company Debt?

Generally a director is not liable for their company's debts unless they have...

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Cash Flow Graph

What Causes Company Cash Flow Problems and How to Fix Them

Any company is likely to experience cash flow problems at some point. This is...

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Example HMRC 7 day warning letter

HMRC 7 Day Warning Letter of Enforcement by Distraint or a Petition

HMRC will send a 7 day letter warning of enforcement action or a petition in the...

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County Court Judgements CCJ Against the Company

County Court Judgements (CCJ) and what you can do about them

A County Court Judgement is where an order has been made by the Court to compel...

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I can't pay VAT or PAYE - Will HMRC give me time to pay?

What happens if we can't pay our VAT or PAYE bill to HMRC on time? What can we...

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Insolvency Test for the Sole Trader

Insolvency Test for the Sole Trader

Am I, as a sole trader, insolvent?

You may think that being under cashflow...

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Sole Trader Lawyers Cashflow problems

Sole Trader Lawyers Cashflow problems

I am a very worried solicitor. My legal practice is under growing pressure from...

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Sole Trader Lawyers Plan B

I am a worried solicitor practising as a sole trader; What options do I have for...

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