F A Simms & Partners Ltd

27/01/2025

If your clients are considering a Members Voluntary Liquidation (MVL), there's still time to act to maximise tax savings.

In his latest article for Institute of Financial Accountants, Marco Piacquadio outlines the changes ahead for MVLs and how we can work together to make the process smooth and stress-free.

📖 Read the full article here:

SPONSORED: In April 2025, the changes to Business Asset Disposal Relief (BADR) announced in Labour’s first budget are set to reshape the financial benefits associated with Members Voluntary Liquidation (MVL).

06/08/2024

Struggling to close down your business and encountering unexpected roadblocks?

A suspended company strike-off can throw a wrench in your plans. Find out the top reasons why your attempt to dissolve the company might be on hold — from unsettled creditor objections to missing statutory filings. Our latest blog post has all the essential info you need to avoid legal repercussions and ensure a smooth closure.

Learn more here 👉

Understand why a company strike-off may be suspended, from creditor objections to legal disputes and tax investigations. Ensure a smooth closure with FA Simms.

30/07/2024

Navigating through the challenges of insolvency can be daunting for directors and devastating for employees who find themselves facing possible unemployment due to their company's financial distress.

However, these recent efforts by the Insolvency Service highlight our industry's potential to help during these challenging times.

In the fiscal year 2023-2024, the Insolvency Service received 85,592 claims for redundancy payments and distributed over £490 million in support to those left in financial crisis following business insolvencies.

The Insolvency Service’s Redundancy Payments Service processed more than 85,000 claims from former employees of companies which had become insolvent

24/06/2024

The latest insolvency stats show that overall insolvency numbers are higher than pre-pandemic but lower than 2023.

We've noticed the number of appointments to be on par with 2023 figures. But the volume of enquires about potential insolvency is generally up.

More directors have sought out our advice and have wanted to understand options before the company is beyond the point of control.

This is a positive sign as they're opting to be proactive rather than bury their heads in the sand.

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06/06/2024

Facing financial difficulties? It’s crucial to choose a reputable licensed insolvency practitioner. Here’s why:

✔ Regulated and reliable

✔ Expert guidance

✔ Security and peace

Choosing wisely gives your business a fighting chance to rebound or resolve issues in the most structured and effective way. 🚀

For advice or if you have questions about what this process looks like, feel free to reach out or leave a comment below. Let’s navigate these challenging times with confidence and expertise.

22/05/2024

Deciding to close a business is an important step for the directors. We're committed to making the process as beneficial as possible.

If your business is solvent and you're considering closing, let's discuss if you could benefit from the tax efficiencies that a Members' Voluntary Liquidation (MVL) brings.

16/05/2024

😳 Ever wonder why your company's strike-off could be suspended?

From unpaid taxes and creditor objections to outstanding legal claims or COVID loan repayments, there are several potential roadblocks that could halt your plans.

But don't worry, our experts are here to guide you. We explain the common pitfalls and how to avoid them, as well as alternative options.

Want to ensure a smooth company closure? Click the link to read the full post and get professional advice tailored to your situation.

Understand why a company strike-off may be suspended, from creditor objections to legal disputes and tax investigations. Ensure a smooth closure with FA Simms.

01/05/2024

What's causing these rising insolvency numbers?

📈 Businesses are struggling with increased costs across the board - from energy prices to paying higher wages in a competitive labour market.

📈 We're also experiencing high interest rates, reducing consumer spending and making it harder to borrow funds.

📈 It looks like this trend could continue. But that doesn't mean businesses facing financial difficulties have no option.

The insolvency sector is here to save businesses and jobs where we can. The key is to seek help early before the situation is irreversible.

22/04/2024

Is your business facing tough financial times? You're not alone, and there could be light at the end of the tunnel - it's called business rescue!

Whether it's cash-flow issues or a broader financial crisis, understanding the rescue process can make all the difference. Our latest blog post is a lifeline, offering you a guide through the stormy financial seas.

💡Learn the insolvency warning signs
💡Understand cash-flow and balance sheet tests
💡Explore actionable steps to recovery

Don't risk your business' future. Learn how to navigate out of financial distress now. Check out the full article:

www.fasimms.co.uk/what-is-business-rescue

Feel free to reach out for confidential advice. Your business' rescue operation starts today!

What is business rescue? If your business is approaching insolvency, what can you do now to recover the situation? We review your options.

19/04/2024

🚨 Is your business facing potential insolvency? There's a powerful solution that could save it...

Company administration is an insolvency process that offers a lifeline to struggling businesses. It provides temporary protection from creditors while allowing a restructuring plan to be implemented.

Key benefits include:

✅ Legal moratorium on creditor actions, giving you breathing room
✅ Potential for business rescue and preserving jobs
✅ Creditors are more likely to recover money owed

The process involves appointing a licensed insolvency practitioner as administrator to manage the company's affairs and devise a recovery strategy. Creditors must then approve the plan for it to proceed.

If your business is facing crippling debt, company administration could be the solution to turn things around. But you need to act quickly - click the link to learn more about this potential lifeline.

What is company administration?’ Explore the definition, process and benefits of company administration. Could it be a solution for your business?

21/03/2024

If your client's looking to close their solvent business, an MVL could be the most advantageous way to do it. Read why in our latest The Institute of Financial Accountants article...

SPONSORED: A Members' Voluntary Liquidation (MVL) is as a formal process that allows the directors of solvent companies to voluntarily wind up the businesses and distribute assets to shareholders. An MVL can also offer benefits other company closure processes do not, particularly when a client

14/03/2024

Company directors most often know their business is in financial difficulties and facing possible insolvency. But how can the business' position be confirmed?

We carry out two simple tests to get an overall picture of a business' situation: the cash flow test and the balance sheet test.

Using these, we can start to assess the options a business has to turn their position around.