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Inheritance Money

When a company finds itself in financial trouble it can’t resolve, liquidation is often the best way forward. In basic terms, liquidation is a formal process that involves closing down the business and selling off its assets to pay as much of its debts as possible. Though it’s a tough decision, liquidation provides a clear and legal way for directors to manage unresolved financial issues and allow all parties to move on. Liquidation involves many steps, including asset sales and paying creditors, which may leave those involved wondering what happens next. Here’s a breakdown of what to expect after liquidation for directors, employees, creditors, and future business ventures. Once liquidation begins, the company stops all trading activities. A licensed insolvency practitioner is appointed as the Liquidator and assumes responsibility for managing the company’s remaining affairs. Their role involves gathering and selling assets, paying off creditors in an organised manner, and eventually dissolving the company. This process can vary based on the type of liquidation, whether it’s a Creditors’ Voluntary Liquidation, a Compulsory Liquidation, or a Members’ Voluntary Liquidation for solvent companies. Learn More - https://www.leading.uk.com/what-happens-after-liquidation/

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Can Your Business Recover from Liquidation? Liquidation is a term that often evokes concern and anxiety among business owners. While it may seem like the end of the road, it’s essential to understand that recovery is possible. Many businesses have navigated through the difficulties that liquidation brings and emerged stronger on the other side. This blog explores how your business can recover from liquidation, the steps involved, and the factors influencing the recovery process. Read More - https://www.leading.uk.com/can-your-business-recover-from-liquidation/

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How Pre-Pack Administration Can Save a Business from Insolvency? Currently, businesses are up against all sorts of challenges that can threaten their financial health. From rising costs and changing consumer habits to increased competition, many companies are struggling to stay afloat. When a business finds itself teetering on the brink of insolvency, swift and strategic action becomes essential to avoid a downward spiral. One effective solution that has gained popularity in the UK is pre-pack administration. This blog post will explore how this process can provide a vital lifeline for struggling businesses, allowing them to continue operations while preserving jobs and safeguarding the interests of the stakeholders. Read More - https://www.leading.uk.com/how-pre-pack-administration-can-save-a-business-from-insolvency/

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Record Surge in Construction Company Insolvencies in 2024 There’s been an alarming increase in construction company insolvencies across the UK in 2024. This trend has raised concerns among industry stakeholders, from contractors and suppliers to financial institutions and policymakers. In this blog, we look at the factors contributing to this growth, the implications for the construction sector, and the key steps companies can take to survive these turbulent times. Learn More - https://www.leading.uk.com/record-surge-in-construction-company-insolvencies-in-2024/

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Creditor Claims Against Business Partners in 2024 In the complex system of insolvency, creditor claims against business partners are becoming increasingly relevant in 2024. As business conditions and economic pressures change, creditors need to know their rights and the options they have when making claims against business partners. This blog aims to provide a comprehensive guide on dealing with creditor claims effectively, offering insights into legal processes, strategic approaches, and practical steps to enhance the chances of a successful resolution. Learn More - https://www.leading.uk.com/creditor-claims-against-business-partners-in-2024/

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How Double-Glazing Giant Everest Crashes into Administration? In a significant development, Everest, one of Britain’s largest and historically resilient double-glazing suppliers, has entered administration, highlighting the challenges even well-established companies face amidst the ongoing turbulence of today’s economic climate. This turn of events not only shows the vulnerability of industries heavily reliant on consumer spending and economic stability but is also a cautionary tale for businesses dealing with unpredictable market conditions. Double-Glazing Giant Everest Crashes into Administration - https://www.leading.uk.com/how-double-glazing-giant-everest-crashes-into-administration/

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Probate Delays Are on the Rise in the United Kingdom Probate delays are on the rise, with current backlogs extending applications to over 14 weeks on average.In 2024, these delays have doubled compared to previous years due to changes in the application process, reduced staffing at HM Courts and Tribunals Service (HMCTS), and local registry closures.At Leading, we're here to simplify the probate process. Our knowledgeable team offers friendly support and expertise. Understanding if probate is necessary isn't always clear, but we're ready to provide clarity and guidance. Contact our probate advisors today on 01603 552028 or online through our live chat. We're committed to helping you during this difficult time. Why Probate Delays Are on the Rise - https://www.leading.uk.com/

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The Fall of Smiffys: A Century-Old Fancy Dress Brand Faces Insolvency Despite shipping over 26 million items annually and distributing 7,500 products globally, the company has been significantly impacted by overstocking and inflationary pressures.The company has endured four tough years, grappling with the pandemic, supply chain issues, and inflation. These challenges have forced Smiffys to file a notice of intention to appoint administrators, allowing them to explore potential solutions for sustainability.Whilst actively seeking options to secure its future, the company reassures customers and employees that it will continue to trade and fulfil orders as usual during this period.Smiffys extends its gratitude to its dedicated team and loyal customers for their ongoing support during these uncertain times. The aim remains to emerge from this period as a sustainable business. Get Liquidation Help - https://www.leading.uk.com/

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Liquidation in the United Kingdom Tech Industry The tech industry is suffering its toughest year yet, highlighted by the bankruptcy of WeWork and the collapse of Silicon Valley Bank UK last year. A sector that was once thought immune to financial turmoil and insolvency has proved to be false. Our blog, “Insolvency in the Tech Industry: Navigating Turbulent Waters”, delves deep into these cases and discusses the factors that led to insolvency. Learn More - https://www.leading.uk.com/insolvency-in-the-tech-industry-navigating-turbulent-waters/

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The Evolution of Corporate Governance After Companies Act 2006 In 2006, the UK witnessed a significant overhaul in its corporate governance landscape with the implementation of the Companies Act. This legislation was a response to changing business dynamics, aiming to enhance transparency, accountability, and overall governance practices within companies. Over the years, the Act has had a profound impact on how businesses operate and how they are regulated. In this blog, we delve into the evolution of corporate governance in the UK post the Companies Act 2006, examining its key provisions and their implications. Read Evolution of Corporate Governance After Companies Act 2006 - https://www.leading.uk.com/the-evolution-of-corporate-governance-after-companies-act-2006/

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Cross-Border Insolvency and Technology: Emerging Trends and Challenges In an increasingly interconnected global economy, the concept of ‘Cross-Border Insolvency’ is becoming more important than ever, especially within the UK’s legal and financial sectors. This blog post explores the meeting of cross-border insolvency and technology, focusing on the emerging trends and challenges of professionals in this field. Read More - https://www.leading.uk.com/cross-border-insolvency-and-technology-emerging-trends-and-challenges/

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Liquidation Auctions in the UK: How to Buy Assets and Equipment at a Discount Thinking about going to a liquidation auction? Before you head out the door, it’s good to know what to expect when you get there. Take a few minutes to read our latest blog - “Liquidation Auctions in the UK: How to Buy Assets and Equipment at a Discount”, - to get a complete understanding of liquidation auctions, what you can and can’t buy, and top tips on getting the best deal. Read More - https://www.simpleliquidation.co.uk/liquidation-auctions-in-the-uk-how-to-buy-assets-and-equipment-at-a-discount/

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To Rescue Businesses We Provide Professional Debt Advisors Are you struggling with debt but don't know where to turn? It's time to seek professional help from debt advisors and that's what Leading is here for. Leading UK’s business rescue team is here to guide you and explain your options in detail, including all the pros and cons so that you can make an informed decision. Get in touch and book your free initial consultation before it’s too late. visit: https://www.leading.uk.com/

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Rise in Insolvency in the United Kingdom Company insolvencies rose by 40% in May in England and Wales, reaching a 4-year high. The Insolvency Service reported 2,552 companies entered an insolvency process last month, most of which were CVLs. Compulsory liquidations also rose by 34%, most of which were instigated by HMRC through a winding-up order, and companies entering an administration process increased by 80%. To know more visit: https://www.leading.uk.com/

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Tuffnells, one of the UK’s largest courier delivery service companies, has surprisingly crashed and entered administration. Founded in 1914 by Harold Tuffnell with just a horse and cart and £100 in his pocket, the company has been a mainstay of the industry for many years. Sadly, IPs have been appointed as the company couldn’t find a buyer, putting 2,300 people out of a job and causing huge disruption for many businesses that relied on their services. visit : https://www.leading.uk.com/

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Employee Rights During Liquidation of a Company in the Uk If you own a company and you are currently going into liquidation then you are likely worried and confused about the process as a whole and the implications that it has on both you and your employees. It can be quite an anxious time with a large amount of uncertainty left in the future; however, there is a range of different options available to your employees that tend to often get dismissed throughout the process. visit : https://www.leading.uk.com/employee-rights-during-liquidation-of-a-company-in-the-uk/

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Is your business struggling with debt? A Company Voluntary Arrangement, or CVA, is an alternative option for companies that are facing financial difficulties and for whom an Administration or a Liquidation would be too damaging to the business. It's used as a rescue tool which allows the company to repay some or all of its unsecured debts, whilst still continuing to trade under the existing management. Over on our website we explain the process to obtain an CVA >> https://www.leading.uk.com/business-rescue/company-voluntary-arrangement/ Call our team of Licensed Insolvency Practitioners today to discuss the business rescue options available to you.

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When you have debts and creditors are knocking on your door, it’s very tempting to try and make debt management arrangements directly with your creditors. In cases where the debt is quite small, and it’s just one creditor, entering into an informal debt arrangement, if the creditor is agreeable, could be worked out for you. It does save money on dealing with the creditor via an insolvency practitioner. However, whilst it can remain simple, there is a risk for both parties as the agreement is not legally binding. Our recent blog post explains why it's better to choose an Insolvency Practitioner instead of making direct arrangements with creditors’. https://www.leading.uk.com/why-choose-an-insolvency-practitioner-instead-of-making-direct-arrangements-with-creditors #insolvency #debt #businessdebt #personaldebt

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There are two principal ways to close a solvent limited company; either a voluntary or informal strike-off or through a Members’ Voluntary Liquidation (MVL). It's often believed that an MVL is the most tax-efficient way, but it may not always be the best option, particularly when it comes to how much tax shareholders will have to pay. In our recent blog post, we explain how to calculate Members’ Voluntary Liquidation tax: https://www.leading.uk.com/how-to-calculate-members-voluntary-liquidation-tax-calculator/

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The probate process in the UK can be time-consuming, even if the deceased’s estate is a simple affair and they left a will. The length of time probate takes will often impact the period between probate being granted and when the beneficiaries receive their inheritance money after probate. In this Post, We will discuss how to Get Inheritance Money after Probate in United Kingdom More Info - https://www.leading.uk.com/how-long-does-it-take-to-get-inheritance-money-after-probate-has-been-granted/ #InheritanceMoney #Probate #LeadingUK

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