Family-run firms form the backbone of the UK economy, accounting for around 93% of all private sector businesses. These enterprises represent more than commercial ventures, as they reinvest profits back into their communities. At McTear Williams & Wood, we’ve spent more than two decades supporting family businesses across the South East of England. With offices […]
When a company reaches the end of the road, liquidation may be the next step. But what does that actually involve? And why do businesses choose, or get forced, to go down this route?We explain what company liquidation means in the UK, why it happens, what the process involves and what directors should do if
What is company liquidation – and why does it happen? Read More »
Director’s Loan Accounts (DLAs) commonly feature in small and medium-sized companies, especially where the director is also a shareholder. However, problems arise when a director borrows more from the company than they are entitled to, creating what’s known as an Overdrawn Director’s Loan Account. This situation can have serious tax, legal, and financial implications. In
Understanding the overdrawn director’s loan account: risks, rules & remedies Read More »
