LisaWhitehouse

Save Consultants, a Manchester-based company that presented itself as an alternative solution to formal insolvency proceedings, was ordered to be wound up in the public interest on 2 July. This decision followed a thorough investigation by the Insolvency Service, which revealed that the firm was operating as an unlicensed insolvency practitioner. The Official Receiver has now been appointed as the liquidator of the company. The Services Provided by Save Consultants Save Consultants offered a brokerage service aimed at assisting directors in financial distress. The company claimed to help directors sell their interests in struggling companies, ostensibly allowing them to walk [...]

June is Men's Health Month, a time to raise awareness about the specific challenges men face in staying healthy. While societal expectations are changing, men are still statistically less likely to prioritise preventive care and open up about health concerns. This silence can have serious consequences. Not only on your health but also on your business. Physical Health Concerns: Men are more prone to certain health issues, including heart disease, prostate cancer, and diabetes. Often, these conditions can be identified and managed early through regular checkups and exercise. However, a reluctance to visit the doctor can lead to delayed diagnoses [...]

Being a director of a company that becomes insolvent doesn't automatically disqualify you from future directorships. However, the consequences depend on how the Insolvency Service assess your actions during your role as a director. Here's what they will consider: Your Duty of Care: Did you act with competence and diligence? Minimising Losses: Did you take all reasonable steps to minimise losses for creditors? Compliance: Did you adhere to legal and regulatory requirements? If the Insolvency Service finds you breached your director's duties, they may restrict your ability to hold directorships for a period ranging from a few years to a [...]

For many UK businesses, a significant concern in the current economic climate is outstanding tax liabilities owed to HMRC. With rising costs and tighter margins, meeting tax obligations can be challenging. However, there are proactive steps businesses can take to address HMRC arrears and navigate this situation effectively. Understanding the Consequences of Late Payments Ignoring or failing to address HMRC arrears can have severe consequences. Penalties and interest charges accrue rapidly, further straining finances. HMRC possesses significant powers to enforce payment, including the seizure of assets, bank account freezing orders, and even winding-up petitions for persistent offenders. Communicating with HMRC: [...]