We are licensed Insolvency Practitioners who specialise solely in giving insolvency advice and providing insolvency options to sole traders, individuals, partnerships and limited companies. With two qualified licensed Insolvency Practitioners and from twelve offices we provide FREE personal insolvency advice & corporate insolvency advice throughout the UK.
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wales) Rules 2016 and related case law to provide insolvency help and advice to our clients. Our initial meetings are free and we always provide a letter of advice to our clients free of charge, so they can always rely on what we have said in writing.
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wales) Rules 2016 and related case law to provide insolvency help and advice to our clients. Our initial meetings are free and we always provide a letter of advice to our clients free of charge, so they can always rely on what we have said in writing.
Services
You first need to know how a creditor of your company can enforce a County Court Judgment (CCJ) that they have obtained against your Company before you can consider how can you protect your company from that enforcement process. If you are sitting on the other side of the fence you might ask "How can I enforce my County Court Judgment (CCJ)"?
Personal Guarantee Liabilities called in by Company bankers - Then a Phoenix Company Restructure. How to save huge amounts of tax by not having to pay the guarantee out of after tax income.
If a director has given personal guarantees to the Company bankers (or to any other party) and that guarantee is called upon then you may wish to read the pages on this website concerning Individual Voluntary Arrangements (IVA's) and bankruptcy and the other alternatives available to you.
If a director has given personal guarantees to the Company bankers (or to any other party) and that guarantee is called upon then you may wish to read the pages on this website concerning Individual Voluntary Arrangements (IVA's) and bankruptcy and the other alternatives available to you.
It is well established in case law that there is nothing preventing a director being both a director and an employee of a company. If the director is also an employee then the director will be able to make a redundancy claim if the Company was placed into a formal insolvency process. The key issue is documentation.
How HM Revenue and Customs view and treat overdrawn director loan accounts has two aspects. The first is the company and the second is the director. Provided that the shareholders have approved any loan over and above 10,000, there is nothing incorrect with an overdrawn directors loan account.
It is simply an asset of the Company which needs to be repaid, and is essentially treated the same as any other debtor, or customer who has yet to settle their invoice.However Section 455 of The Corporation Tax Act applies, which says that companies should be charged the higher rate dividend tax in respect of any overdrawn directors loan account, which is currently 32.5%.
It is simply an asset of the Company which needs to be repaid, and is essentially treated the same as any other debtor, or customer who has yet to settle their invoice.However Section 455 of The Corporation Tax Act applies, which says that companies should be charged the higher rate dividend tax in respect of any overdrawn directors loan account, which is currently 32.5%.
A Creditors Voluntary Liquidation or CVL is a liquidation where the directors "voluntarily" arrange to place their company into liquidation as opposed to having their company "compulsorily" wound up by the Court. After taking advice you would instruct a private sector insolvency practitioner to work with you to place your company into Creditors Voluntary Liquidation.
Reviews (10)
Alice Brown
Sep 19, 2021
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Chris gave clear and unbiased advice about all the options available to my company, associated costs, and what he felt was the best option given my circumstances. The email series that I signed up for on the website was also immensely helpful, and set things out in a way that I had not been able to find anywhere else. Thank you Chris for your time and patience during a very stressful time.
D. Rc
Jun 08, 2021
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Nick Oliver
Jan 07, 2021
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I am a solicitor specialising in insolvency and restructuring work. I have worked with Chris Parkman and Purnells for a number of years, and over that period they have assisted many of my clients. Chris is an exceptional insolvency practitioner, who really understands the issues when individuals and businesses are facing financial problems. He consistently provides clear, pragmatic advice but is also able to think outside the box to come up with innovative solutions to complex problems.
Fiona Koderisch
Oct 08, 2020
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Akli Tabti
Aug 30, 2020
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Toby Hume-Rothery
Jun 28, 2020
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Fi Chan
Jun 25, 2020
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I am very satisfied with Purnells' professionalism. Not only that they responded quickly to my questions, they took the time to understand my problem and focus on how to solve it during our first meeting! Their diagnostic is razor sharp. What is even more impressive is that after the diagnostics, they immediately refer me to another expert who handles the specific issue. In a network world, Purnells' services and professionalism proves to be an excellent example of taking personalized services to new heights. I am particularly grateful to Chris and his pleasantness that help reduce my anxiety toward
Richard Pascoe
Jan 10, 2020
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Oliver Thornton
Oct 10, 2019
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Michael Stanton
May 28, 2019
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