The 4R Business Recovery Blog

Will the end of the party for Peer to Peer Lenders inevitable lead to more Corporate and Personal Insolvency

Posted by Kevin on Aug 21, 2020 3:25:11 PM

Adam Williams at the Telegraph wrote a telling article yesterday highlighting the significant challenges confronting the peer to peer lending sector.

Zopa and Funding Circle, have shifted their business models amid concerns over the viability of peer-to-peer lending.

Zopa has gained a banking licence and plans to diversify away from the sector. The firm said it would no longer lend to riskier customers and had significantly tightened its lending policy and Funding Circle has paused Peer to Peer Lending.

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Statutory Demands are Serious

Posted by Kevin on Aug 13, 2020 11:55:04 AM

A statutory demand is a written request from a creditor for payment of a debt. If you receive one, you have 21 days to settle the debt or 18 days to ask the court to set aside (dismiss) the demand. If the debtor is a company, the debt must be for a minimum of £750.

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Topics: Winding Up

HMRC Tax Debt: What Happens If I Don't Pay?

Posted by Kevin on Feb 19, 2018 5:10:31 PM

Whilst HMRC would certainly prefer to get paid tax debts rather than wind up a company, they will have no hesitation in filing a winding up petition when they are less than convinced that a company can both pay any tax arrears as well as pay future liabilities as and when they fall due. HMRC will not tolerate a scenario where a company continues to trade and accrue tax liabilities, as it is effectively using tax funds as operating capital.

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Topics: HMRC Debt

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