If your business has been deemed insolvent via either the cash flow test or the balance sheet test, you’ll likely be thinking what the next step is for your business. You might well have heard about insolvency practitioners and their role in the next steps, but are not entirely sure what the need for them is, and what they do once they’re in your employ. Well, to help clear things up we’ve put together this very brief and wholly incomplete guide to some of the needs and duties of an insolvency practitioner within the United Kingdom. Please note that this information is for the use of UK businesses only.
Firstly, it has to be stated that within UK law that if you are undergoing formal insolvency procedures you must app…
Read the full article at: http://www.businesszone.co.uk/community/blogs/tim-wiliam/what-does-an-insolvency-practitioner-do
