Articles

It is unavoidable that company liquidation does come with a cost attached. As part of the liquidation procedure, a company’s assets will be sold, or ‘liquidated’, by the appointed insolvency practitioner in order to raise as much money as possible with which to settle the business’s liabilities.

There are several ways to close down a limited company, the best one for your business depends on its financial situation and what you want to achieve as part of the closure.

Once a company gets to the stage where it is struggling to keep up with its liabilities as and when they fall due, options need to be considered to protect the business and its creditors from incurring further losses.

Although it’s not essential for directors to work under a contract of employment, doing so can offer advantages in certain circumstances. There are tax and other financial implications when you’re an employee as well as a director, so what might be the main advantage of establishing a written contract of employment?