How to liquidate a franchise company?
| 08-02-2024Liquidating a company in a franchise can be complicated. If you're a director considering liquidating, speak to us, and we’ll guide you through your options.
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Take a look through the latest in-depth industry news as well as a range of features, insights and advice across a variety of different financial topics. Have a browse through our guides and web pages, so you can get an idea about what options might be possible and most helpful in your situation.
What happens if I take dividends from an insolvent company? Is an unlawful dividend legal?
|Where low funds or a negative cash flow won’t allow it, taking dividends without sufficent profits would create an ‘unlawful dividend’.
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What happens to company debt when it is dissolved or struck off at Companies House?
| 22-01-2024Dissolution is designed for solvent companies. The company must settle all its debts before dissolving. It is unsuitable for insolvent companies.
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Can HMRC pursue a dissolved company?
| 13-12-2023Yes, HMRC can investigate and chase dissolved companies if they have outstanding tax debts when they are struck off from the register at Companies House.
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If I resign as a company director, am I personally liable for its debt?
| 01-12-2023If you resign as a company director, you are not automatically liable for that company’s debts. Directors have limited liability protection.
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What does it mean when a company is a going concern?
| 09-11-2023When a company is operating as ‘going concern’, it indicates that the company can continue trading without the threat of insolvency and is unlikely to enter liquidation in the next financial year.
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