Expert Answer: Time to pay is an arrangement negotiated with HMRC to allow tax and VAT arrears to be repaid over instalments.  This helps your business maintain cash flow whilst repaying its debt.

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Expert Answer Wrongful trading occurs when a director(s) allow a Company to continue to trade when they know (or ought to have known) that the Company could not reasonably hope to avoid winding up.  Directors...

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Expert Answer The main difference between receivership and company administration is that the administrator has a duty to all creditors. Receivership, on the other hand, is usually focused on realising...

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Expert Answer Business cash flow problems open the door for a wide range of other issues which can lead to formal insolvency proceedings unless you seek help from professional insolvency specialists at...

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Expert Answer Under an IVA it's unlikely you'll have to sell your home. However, depending on the amount of equity in your home, you may have to re-mortgage six months before the end of your IVA to release...

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Expert Answer The company, if it has not already ceased to trade, will do so at the time of the Liquidators appointment. In addition to this the Directors powers will cease. Effectively the IP who has...

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Expert Answer A Company Voluntary Arrangement (CVA) is a legal agreement between a company and its creditors which sets out a repayment plan to repay historical debts from future profits. This process...

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Expert Answer Many people often mix up the terms “insolvency” and “bankruptcy,” assuming them to mean the same thing. However, these two words, though similar, actually have different meanings....

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Expert Answer Administration can be an intimidating process for many company directors, even more so it can offer you best chance of effecting the recovery and successful turnaround of a business if used...

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Expert Answer An Administrator is permitted to trade what may appear to be an insolvent Company, if he believes that the Company can be rescued and that the underlying business model is viable.  One of...

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