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Understanding Entrepreneurs Relief in Solvent Liquidations Entrepreneurs Relief, now known as Business Asset Disposal Relief (BADR), has undergone significant evolution since its introduction. Originally established in 2008 to incentivise entrepreneurship and investment, Entrepreneurs Relief provided favourable tax treatment on the disposal of qualifying business assets. Over the years, the relief has seen several refinements, culminating […]
When a company is facing financial difficulties, the director may choose to appoint an Insolvency Practitioner to manage the process of restructuring or winding up the company. One question that often arises is, who pays the Insolvency Practitioner’s fees? In this blog post, we will discuss the responsibilities of the company, the Insolvency Practitioner, and […]
When a company enters liquidation, directors often face difficult questions about their role and responsibilities. One question we get asked frequently here at Bridgewood is whether a director can resign during the liquidation process. While it’s technically possible, the implications are complex, especially in insolvency contexts. Lead Consultant and Founder, Robin, looks at the legal […]
When considering the closure of a solvent company, many directors and shareholders look to a Members’ Voluntary Liquidation (MVL) as a tax-efficient route to extract value. At Bridgewood, we often guide clients through this process and, whilst not tax advisors, we can help clients understand one of the most crucial factors: capital gains tax (CGT). […]
How are funds distributed in a Liquidation and who is at the top of the pecking order? In this month’s article we discuss the strict hierarchy within the Insolvency Act, which determines the order that creditors will be paid during liquidation. […]
With the current economic landscape witnessing the highest number of company insolvencies in 30 years, there are more opportunities than ever to acquire struggling businesses. Tom Grummitt, Insolvency Practitioner & Partner at Bridgewood, shares valuable advice from his experience. In the year 2023 alone, over 25,000 companies faced insolvency, marking a significant uptick – the […]
Last year saw a surge in corporate insolvencies across England and Wales, with the Insolvency Service documenting a total of 25,158 cases, marking the most recorded since 1993. The breakdown of these figures reveals 20,577 instances of voluntary liquidations – a 9% increase from the previous year and the highest figure since 1960 – along […]
As a company director, you may have come across a regulatory body called the Insolvency Practitioners Association (IPA) but may not be clear on what it actually is and how it operates. In this blog post, we will provide a clear understanding of the Insolvency Practitioners Association and its role in the world of insolvency. […]
As a company director, you may be aware of insolvency practitioners but might not fully understand their role. An insolvency practitioner is a licensed and regulated professional who provides specialist advice and services to individuals, companies, and their creditors during financial distress. In this blog post, we’ll be exploring what an insolvency practitioner does, how […]
It is challenging to estimate precisely how long the insolvency process will take as it depends on multiple factors, including the type of insolvency process, company size, complexity of the case, stakeholder cooperation, and court decisions. Insolvency Guide for Company Directors Navigating insolvency can be a daunting experience. It not only entails financial loss and […]
