Winding Up A Company - Part 1

If your business owes more than £750 in debt, and a creditor can prove that you cannot repay this amount, the creditor can apply to the Court to wind up your company. To try and assist struggling businesses a result of the pandemic, the Government incorporated special measures in to our laws; new legislation that was introduced on 1 October 2021, which will be in place until 31 March 2022, will protect businesses that are in debt from being forced to wind up and close down. What can you do if...