Generated by All in One SEO v5.0.0.1, this is an llms.txt file, used by LLMs to index the site. # Debt Solutions Hub ## Sitemaps - [XML Sitemap](https://debtsolutionshub.co.uk/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Bounce Back Britain to slash VAT and save the Economy?](https://debtsolutionshub.co.uk/bounce-back-britain-to-slash-vat-and-save-the-economy/) - The economy is beginning to bounce back from lockdown but any recovery is expected to be slow with many high street businesses having to cope with social distancing measures restricting the number of customers they can serve. With this in mind, the Government is considering a reduction to the standard rate of VAT in an - [The proposed new moratorium to rescue struggling companies](https://debtsolutionshub.co.uk/the-proposed-new-moratorium-to-rescue-struggling-companies/) - The Corporate Governance and Insolvency Bill is expected to come into force by the end of June 2020 and introduces, amongst other things, a new moratorium intended to give directors the necessary time to try and rescue their company as a going concern. The moratorium has the effect of freezing any ongoing legal action and - [Compulsory or Voluntary Liquidation - which is best for me?](https://debtsolutionshub.co.uk/compulsory-or-voluntary-liquidation/) - Liquidation is the appropriate procedure when your company is insolvent (e.g. it cannot pay its debts) and there is no real prospect of saving a viable business. When it comes to the winding up of an insolvent company it is important to understand the difference between compulsory and voluntary liquidation. Whilst both are governed by - [With the news being dominated by Covid-19, whatever happened to Brexit?](https://debtsolutionshub.co.uk/with-the-news-being-dominated-by-covid-19-whatever-happened-to-brexit/) - The news so far this year has understandably been dictated by the Covid-19 global pandemic. So much so that you may have forgotten about Brexit, which has dominated current affairs and split public opinion since the 2016 referendum. On 31 January 2020, the UK officially left the European Union and Boris Johnson has committed to - [Negative Interest – Positive for business?](https://debtsolutionshub.co.uk/negative-interest-positive-for-business/) - Forced into lockdown by the Coronavirus pandemic, the world economy will, according to Gita Gopinath the International Monetary Fund’s chief economist, face it’s worst recession since the 1930’s with an estimated 3% contraction globally. In the UK, GDP slumped by 5.8% in March, a record fall and Bank of England deputy governor Andy Haldane predicted - [Most UK firms could re-open their doors within three weeks](https://debtsolutionshub.co.uk/most-uk-firms-could-re-open-their-doors-within-three-weeks/) - Ready to re-start the Economy? - Most UK firms could re-open their doors within three weeks – Covid-19 Earlier this month Boris Johnson actively encouraged a return to work for those who cannot work from home and with another review due on 28 May it is likely he will loosen lockdown further in June. According - [Covid-19 - The new normal and business recovery options](https://debtsolutionshub.co.uk/covid-19-the-new-normal-and-business-recovery-options/) - It cannot be argued that, as a result of Covid-19, life today is unrecognisable from the one we were living only a few months ago. As individuals we have seen unprecedented restrictions on our civil liberties and in business the landscape has changed dramatically, some say forever. So what will be “the New Normal’ and - [Pre-Pack choices – practical ways to help your business survive Covid -19](https://debtsolutionshub.co.uk/pre-pack-choices-business-survival/) - In light of the Covid-19 pandemic, and the national lockdown imposed by the Government, many companies are facing financial hardship and may not be able to generate adequate future revenues to honour their existing debt obligations. Inability to repay debts, as and when they fall due, can trigger insolvency proceedings which could lead to the - [Benefits of Engaging with Suppliers/Stakeholders](https://debtsolutionshub.co.uk/benefits-of-engaging-with-suppliers-stakeholders/) - During these unprecedented times of uncertainty surrounding businesses, it is now more important than ever that you continue dialogue with your existing suppliers and stakeholders. The Covid-19 pandemic is not a valid excuse to simply ignore creditors and suspend payments. If your suppliers are not being paid, they are likely to run into cashflow difficulties - [Lifestyle changes – Business Sectors which might not survive Covid-19](https://debtsolutionshub.co.uk/lifestyle-changes-business-sectors-which-might-not-survive-covid-19/) - Boris Johnson confirmed on Monday that the current lockdown will remain in place and that social distancing will stay with us for the foreseeable future. With this in mind, what will the ‘new normal’ look like and which sectors may be hardest hit by the Coronavirus/Covid-19 pandemic? Restaurants / pubs Restaurants and Pubs have traditionally - [Covid-19 Practical steps to help your business survive](https://debtsolutionshub.co.uk/covid-19-practical-steps-to-help-your-business-survive/) - These are unprecedented times with many businesses being forced to suspend trading and shut their doors as we wait out the viral pandemic. The Government has introduced a number of measures to assist businesses through these times, but the inevitable flood of applications has led to many experiencing significant delays before funds arrive. Faced with - [Can’t pay your tax due to the Coronavirus Covid-19? Help is at hand](https://debtsolutionshub.co.uk/cant-pay-your-tax-due-to-the-coronavirus-covid-19-help-is-at-hand/) - The Government is doing everything it can to ensure that businesses and the self-employed receive the support they so desperately need in these troubled times. Firstly, they are allowing the deferral of VAT for three months and Income Tax payments, due in July 2020 (under self-assessment), may be deferred until January 2021. In addition, HMRC - [Why Insolvency may not be inevitable following the Coronavirus pandemic](https://debtsolutionshub.co.uk/why-insolvency-may-not-be-inevitable-following-the-coronavirus-pandemic/) - The Government are looking into the possibility of relaxing the Insolvency rules in the UK as a result of the coronavirus pandemic, according to Sky News. One measure being considered is a 90-day freeze on winding-up petitions in view of cash flow and operational difficulties as a result of coronavirus (Covid-19). Other measures being considered - [Coronavirus: Your responsibilities as a director if your company becomes insolvent](https://debtsolutionshub.co.uk/coronavirus-your-responsibilities-as-a-director-if-your-company-becomes-insolvent/) - The world is a challenging place right now. With the Corona (covid-19) pandemic having a significant impact right across the globe, businesses across all sectors are finding themselves in a totally unprecedented scenario. As we speak, the Government is trying to introduce measures to help save businesses and boost the economy during this turbulent time. - [Managing creditors if your business income falls due to Covid-19](https://debtsolutionshub.co.uk/managing-creditors-if-your-business-income-falls-due-to-covid-19/) - As businesses and communities around the world are dealing with the knock-on effects of Covid-19, many businesses, schools, leisure facilities, and events have already been forced to close their doors in a bid to contain the spread of this worrying virus. And although these are necessary steps to protect the health of us all, - [Toys R Us: What happened & could it have been prevented?](https://debtsolutionshub.co.uk/toys-r-us-what-happened-could-it-have-been-prevented/) - From the top of the food chain to rock bottom was the fate of Toys R Us in March this year. What was once a favourite place for any child to visit with their parent quickly descended into a downward spiral. We all have some great memories of visiting the retail store as an infant - [Suspension of Wrongful Trading Claims – Be Aware of the Pitfalls](https://debtsolutionshub.co.uk/suspension-of-wrongful-trading-claims-be-aware-of-the-pitfalls/) - In view of the current coronavirus pandemic the Government is looking to amend current insolvency legislation providing additional protection enabling businesses to continue trading, in an attempt to prevent mass failures - leading to a significant rise in unemployment. As part of their plan - unveiled by the Business Secretary, Alok Sharma, at the weekend - [Employee Benefit Trusts - The net tightens!](https://debtsolutionshub.co.uk/employee-benefit-trusts/) - Employee Benefit Trusts ("EBT'S") had become more prevalent over the last 10 - 15 years or so and were most heavily marketed to companies between around 2007 and 2014 as a means to reward employees in a tax efficient manner. Typically companies would pay monies into a trust which could then be loaned to the employee on favourable terms without PAYE and NIC charges. The schemes, which had to be notified to HMRC under their own disclosure rules were compliant with legislation and advice ... - [Wrongful Trading Advice](https://debtsolutionshub.co.uk/wrongful-trading-advice/) - Section 214 of the Insolvency Act 1986 (“the Act”) defines wrongful trading as when the directors of a company continue to trade past the point where they knew, or ought to have concluded that there was no reasonable prospect that the company would avoid going into insolvent liquidation. This action is available to the liquidator of the company against not only directors who are registered at Companies House, but also de facto and shadow directors. The key step for a liquidator is establishing the date at which it can be shown that the directors continued ... - [Website Launch](https://debtsolutionshub.co.uk/website-launch/) - We have just launched our new website. The website was designed by Limelight Marketing Communications Ltd – www.limelight.co.uk We would like to say a big thank you to the team there who were very helpful and creative while designing the site. - [Brexit – a third of UK Businesses risk insolvency](https://debtsolutionshub.co.uk/brexit-third-uk-businesses-risk-insolvency/) - Many businesses in the UK face considerable financial difficulty as the uncertainty of ongoing trade with Europe continues. The value of the sterling, rising inflation and prolonged Brexit negotiations are all having a negative effect in many sectors. Some organisations that trade with Europe have reached crisis point due to the inevitability of reduced trade under these circumstances and increased associated costs. According to the insolvency and restructuring body R3, a third of all companies are susceptible to insolvency up from around a quarter at the start of 2017 ... - [How can Debt Solutions Hub help you?](https://debtsolutionshub.co.uk/how-debt-solutions-hub-can-help-you/) - Debt Solutions Hub offers qualified advice from multiple practitioners. You want to ensure that you receive the right advice when it comes to your debt and Debt Solutions Hub assures this. All practitioners are committed to providing the appropriate advice for all clients. 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