Castle Hill Insolvency

Castle Hill Insolvency Regulated by The Institute of Chartered Accountants in England and Wales registration number 10652. ICO regulation number ZA354662

📈 RPS Limit Increasing – 6 April 2026The weekly pay cap for employee claims in insolvency is rising from £719 to £751.Th...
27/03/2026

📈 RPS Limit Increasing – 6 April 2026

The weekly pay cap for employee claims in insolvency is rising from £719 to £751.

This affects what employees can claim via the Redundancy Payments Service (RPS), including:

• Redundancy pay
• Unpaid wages
• Holiday pay
• Notice pay

A small change, but an important one for both employees and business owners.

If your company is under pressure, getting advice early can make a real difference.

📩 Please feel free to get in contact - no pressure, just straight answers.

https://castlehillinsolvency.com/contact/

What Happens to a Bounce Back Loan if My Company Goes into Liquidation?If your business is struggling and you took out a...
19/08/2025

What Happens to a Bounce Back Loan if My Company Goes into Liquidation?

If your business is struggling and you took out a Bounce Back Loan (BBL), you might be wondering what happens if the company has to close.

Here’s what you need to know 👇

💼 Bounce Back Loans were taken out by the company – not you personally.
So if the company is liquidated, the loan is written off as a company debt.
You’re not personally liable, unless:

🔸 You misused the funds (e.g. personal spending),
🔸 The company wasn’t trading properly when the loan was taken,
🔸 Or you gave false info to get the loan.

✅ In most cases, directors aren’t held personally responsible.

If you’re losing sleep over debts, tax arrears or BBL repayments, you’re not alone – and there are options.
We’ve helped directors in this exact position understand their options and the next steps.

💬 Free, confidential chat – no pressure, no judgment.

📩 Message us today to see if we can help.

🔄 Can I Be a Director Again After Liquidation?Yes – in most cases, you can.Going through a company liquidation doesn’t s...
12/08/2025

🔄 Can I Be a Director Again After Liquidation?

Yes – in most cases, you can.

Going through a company liquidation doesn’t stop you from being a director in the future.

The Insolvency Service does review the conduct of directors after an insolvency. But unless there’s evidence of significant wrongdoing…it’s very unlikely you’ll face any restrictions.

Director disqualifications are rare.

💬 If you’re worried about your company’s position, the earlier you get advice, the more options you may have — and the more confident you can be about your future.

We offer free, confidential conversations with no pressure and no judgment.

📩 Message us today if you’d like to talk it through.

https://castlehillinsolvency.com/

🚫 There’s No Shame in Business StrugglesIf your company is facing financial difficulties, it’s easy to feel ashamed or l...
05/08/2025

🚫 There’s No Shame in Business Struggles

If your company is facing financial difficulties, it’s easy to feel ashamed or like you’ve failed.

But here’s the truth:

👉 Running a business takes guts.
👉 You’ve created jobs, paid taxes, and taken risks others wouldn’t.
👉 Sometimes things go wrong – not because of bad decisions, but because of external factors: rising costs, late payments, staff shortages, economic changes… the list goes on.

Insolvency doesn’t necessarily mean you’re a bad director – it could just mean you’ve had a tough set of circumstances.

What matters most is how you deal with it.

💬 If you’re feeling under pressure, reach out.
We offer free, confidential conversations – no judgment, just practical support and straight answers.

📩 You’re not alone, and you’re not the first.

https://castlehillinsolvency.com/

👥 What Happens to Employees if a Company becomes Insolvent?If your company is in financial trouble, you may be worried a...
29/07/2025

👥 What Happens to Employees if a Company becomes Insolvent?

If your company is in financial trouble, you may be worried about your team — and understandably so.

Here’s what you need to know:

👔 In administration or liquidation, employment contracts are usually terminated unless the business is sold or rescued.

💷 But employees aren’t left with nothing — they can claim through the Redundancy Payments Service, backed by the government.

This can cover things like:
• Redundancy pay
• Unpaid wages
• Holiday pay
• Notice pay

*up to statutory limits

If you act early, there may even be ways to save jobs — through a business sale, restructure, or other turnaround options.

💬 If you’re worried about the future of your business and your team, let’s talk.
We offer free, confidential advice to help you understand the options — for your company and your employees.

📩 Message us today — no pressure, no judgment, just straight answers.

https://castlehillinsolvency.com/

⚠️ Thinking of Paying One Creditor First? Read This.When cash is tight, it’s natural to want to pay off the people shout...
22/07/2025

⚠️ Thinking of Paying One Creditor First? Read This.

When cash is tight, it’s natural to want to pay off the people shouting the loudest – or those you feel you owe most.
But if your company is insolvent, doing that could land you in trouble later.

It’s called a “preference” – and here’s what it means 👇

✅ If you pay one creditor (say, a friend, family member, or connected business) before others…
❌ It could be challenged later if your company goes into liquidation.

In some cases, the money can be clawed back – and you as a director might be made personally liable.

The safest route? If your company is struggling, get advice before moving money around.

💬 We offer free, confidential guidance if your company is under pressure and you’re unsure what to do.

📩 Message us – we’ll help you understand your options, clearly and calmly.

https://castlehillinsolvency.com/

⚠️ Personal Guarantees – What Happens After Insolvency?If your company has borrowed money or taken out credit, you may h...
15/07/2025

⚠️ Personal Guarantees – What Happens After Insolvency?

If your company has borrowed money or taken out credit, you may have signed a personal guarantee.

That means if the business can’t repay the debt, you personally become liable – even after liquidation or administration.

But here’s the part many people don’t realise 👇

🗣️ Depending on your ability to repay, Creditors are often open to negotiating.
Many lenders don’t want a legal fight – they’d rather agree a reasonable settlement or payment plan once the dust has settled.

So while a personal guarantee can’t be ignored, it also doesn’t always mean immediate legal action or full repayment.

💬 If you’re facing insolvency and worried about guarantees, it’s important to get advice early, not taking action due to the worry of personally guarantees often makes the situation worse.

We offer free, confidential guidance to help you understand your position and your options.

📩 Message us to talk it through – calmly, clearly, and without pressure.

https://castlehillinsolvency.com/

💡 Director’s Loan Accounts – Are You at Risk Without Realising?Many directors take a low salary and top up with dividend...
08/07/2025

💡 Director’s Loan Accounts – Are You at Risk Without Realising?

Many directors take a low salary and top up with dividends – a common, tax-efficient strategy when profits are healthy.

But if profits fall or disappear, those dividends may not have been technically available.
When that happens, the money you’ve withdrawn is likely creating an overdrawn director’s loan account.

In the event of insolvency, this might be seen as money owed back to the company – and you could be asked to repay it.

📊 Not sure where you stand?
It’s worth speaking to your accountant about how you’re taking money out of the business – and whether any changes are needed.

💬 We’re also here if you’re worried about cashflow or want to understand the risks. We offer free, confidential chats – with no pressure and no judgment.

📩 Message us today to talk through your options.

https://castlehillinsolvency.com/

📢 Important Update: Changes to Debt Relief Order (DRO) Qualification Rules 📢If you're considering a DRO to manage your d...
04/04/2024

📢 Important Update: Changes to Debt Relief Order (DRO) Qualification Rules 📢

If you're considering a DRO to manage your debts, here's some important news regarding the qualifying rules:

🔍 Current Rules:
• Unable to pay debts.
• Total debts £30,000 or less.
• Assets worth £2,000 or less.
• Motor vehicle value under £2,000 (unless adapted for disability).
• £75 or less spare income monthly.
• Resident of England or Wales.
• No DRO in the last six years.
• £90 fee for applying.

🔄 Changes Effective June 28, 2024:
• Max debt level for DRO increases to £50,000.
• Eligibility includes motor vehicle value up to £4,000.
• £90 fee will be abolished (this applies from 6 April 2024)

💡 What This Means for You:
If you don't currently qualify but will under new rules, consider waiting to apply.

You need to apply through a registered debt organisation, click here to see some who could help you out: https://www.gov.uk/guidance/how-to-get-a-debt-relief-order-dro -who-can-help-you-get-a-dro

If you don’t qualify for a DRO, but need some advice regarding your financial position, please reach out for a no-obligation conversation.

📢 Making sure employees get paid is often one of the biggest worries for Directors when their company is facing insolven...
02/10/2023

📢 Making sure employees get paid is often one of the biggest worries for Directors when their company is facing insolvency. We get it, and that's why we're here to shed some light on the Redundancy Payment Service (RPS)! 🛡️

The RPS ensures employees receive the monies they are entitled to under their employment contracts, providing much-needed financial security during challenging times.

Employees can claim the following from the RPS:

⚫️Redundancy Pay
⚫️Unpaid Wages
⚫️Holiday Pay
⚫️Notice Pay

Assuming you fit a certain criteria, Directors can also make claims to the redundancy payment service.

If your business is struggling and you'd like to discuss your options, please get in touch for a no-obligation conversation.

https://castlehillinsolvency.com/contact/

In August 2023, insolvencies rose by 19% compared to last year, hitting a 4-year monthly high of 2,308 cases 📈If you're ...
27/09/2023

In August 2023, insolvencies rose by 19% compared to last year, hitting a 4-year monthly high of 2,308 cases 📈

If you're facing financial challenges, there's no shame in exploring your options. Reach out to us for a no-obligation conversation. We're here to help 🤝

https://castlehillinsolvency.com/contact/

Heights, zip lines, and loads of fun! 🌲😄Thank you to the team at Go Ape Haldon Forest for having us today for our staff ...
25/09/2023

Heights, zip lines, and loads of fun! 🌲😄

Thank you to the team at Go Ape Haldon Forest for having us today for our staff day out 💪

Address

1 Battle Road, Heathfield
Newton Abbot
TQ126RY

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

+441626510020

Website

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