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Poole-based Insolvency firm, Kirks, has appointed a leading insolvency expert to manage the Poole office. Scott Kippax has specialised in insolvency, recovery and turnaround situations for the last 20 years. His appointment will mean that Poole and Bournemouth based businesses facing financial difficulty will have the support of a local-company to offer the best advice […]

Unpaid tax: accelerated payment notices If H M Revenue and Customs believe you have been involved in reducing your tax bill using a tax avoidance scheme they can serve an Accelerated Payment Notice (APN) on you. This gives you just 90 days to pay the tax due on the notice and replaces any previous payment […]

The short answer is yes – you can only normally pay dividends from distributable reserves (money left over after settling all costs and which the business can afford to pay). However in a recent case of Global Corporate Ltd v Hale (2017) the judge decided that what the director thought was dividends could be treated […]

Following a number of recent business and store closures throughout Devon and the Exeter City centre, popular news source Devon Live decided to meet with David Kirk to discuss the issues facing the region and what may be behind the worrying trend. Throughout the last 12 months, there has been a noticeable increase in businesses […]

We’ve put a handy guide together to help directors who may be thinking about a Members Voluntary Liquidation (MVL) gain a simple overview of the processes involved. If you’re unsure about what exactly an MVL is, read what is an MVL? first. Day 1 First, we draft and send the following documents to the directors: […]

We are pleased to announce that well-known local Insolvency Practitioner Alison Byrne is joining Kirks Insolvency to head up the Bristol office of Kirks. Alison took over the family firm Byrne Associates in the year 2000. Alison has of late been specialising in turnaround work and helping struggling businesses and charities avoid formal insolvency. Alison, […]

The answer is seven days. New insolvency rules came in on the 6th April 2017 which has changed the way companies go into liquidation. There is no longer a need for a physical creditors meeting unless 10% of creditors request it. From the 6th April 2017 the procedure to liquidate a company will be: Day […]

The Insolvency Rules 1986 are being replaced by the new Insolvency Rules 2016 that will come into effect on the 6th April 2017. The overall purpose is to reduce red tape, make communication with creditors easier (using the internet) and trying to make the whole process cheaper so as to increase the return to creditors. […]

If the Company has no funds to pay for Liquidation the Directors can take steps to apply for the dissolution of the Company. This means an application is made to strike the company off for a fee of only £10. The following criteria must apply for a striking off: • The Company must have ceased […]

We are pleased to announce the opening of our new Hereford office. The office is situated at the Rural Enterprise Centre off Vincent Carey Road just south of Hereford city centre. The office is run by Wendy George who has worked in the insolvency profession for many years locally and recently passed her insolvency exams […]