Real Business Rescue

Resigning as a company director is a straightforward process, but it involves more than just filing form TM01 with Companies House. Fellow directors and shareholders need to be told in writing too, and sole directors must ensure a replacement is in place first.

Our latest advice hub article explains the full process and what happens to your record afterwards.

Read more: https://www.realbusinessrescue.co.uk/advice-hub/how-do-i-resign-as-company-director-and-remove-myself-from-company-records

How do I resign as company director and remove myself from company records? If you want to remove yourself as a limited company director and company records, file a TM01 form with Companies House to resign as a director.

If a customer repeatedly fails to pay an invoice, start with a final 7-day payment request. If that doesn't work and the amount owed is over £5,000, a Statutory Demand may be the next step, with a winding up petition a possibility if it's ignored.

Our latest advice hub article covers how to handle unpaid invoices and recover what you're owed.

Read more: https://www.realbusinessrescue.co.uk/advice-hub/when-a-customer-will-not-pay-your-invoices-what-can-you-do-about-it

What can you do when a customer will not pay your invoices? Bad debts affect every business where you supply services or products but the customer won't pay. When invoices are overdue, what options do you have?

If you're an accountant supporting a client in financial distress, our free guide covers spotting the warning signs, managing a director's concerns, and the full range of rescue and closure options available.

Download our Business Rescue Guide for Accountants for practical, step-by-step support.

Read more: https://www.realbusinessrescue.co.uk/advice-hub/free-guide-for-accountants

Accountants Guide to Insolvency If you are an accountant searching for solutions on behalf of a distressed client, our free guide has all the information you need when it comes to business rescue, recovery, and closure.

⏳ How long does it take to liquidate a company?

If you're considering closing your company, it's natural to want to know how long the process will take. While every case is different, factors such as the company's financial position, assets and creditor involvement can all influence the timescale.

Our latest guide explains what to expect during the liquidation process and the key stages involved.

Read more:
https://www.realbusinessrescue.co.uk/advice-hub/how-long-does-it-take-to-liquidate-a-company

How long does it take to liquidate a company? We outline how long it takes to liquidate a company, provide a timeline for the three liquidation procedures and discuss the steps to speed up the process.

💷 Worried about HMRC tax debt? You're not alone.

If your company is struggling to keep up with tax payments, it's important not to ignore the situation. Acting early can open up more options, whether that's negotiating with HMRC, improving cash flow or exploring formal business rescue solutions.

Our directors' guide explains how to deal with HMRC tax debt and the steps you can take to protect your business.

Read more:
https://www.realbusinessrescue.co.uk/advice-hub/dealing-with-hmrc-tax-debt-directors-guide

Dealing with HMRC Debt: What Happens if You Can't Pay Your Tax Bill What are the main types of HMRC debt? Your company can owe HMRC money for several types of tax and understanding which debts you have helps prioritise payment and negotiate arrangements. VAT - VAT is perhaps the most common source of HMRC debt. This is tax you've collected on sales that must be paid...

🎓 What does the Government's decision mean for universities facing financial distress?

The UK Government has ruled out introducing a special insolvency regime for struggling universities, despite ongoing concerns about the financial pressures facing the higher education sector. The decision means institutions will continue to operate within the existing regulatory and insolvency framework rather than under a bespoke process.

Our latest insight explores what this means for universities, students and the wider sector.

Read more:
https://www.educationadvisory.org.uk/insights/special-insolvency-regime-ruled-out-for-distressed-universities

Special insolvency regime ruled out for distressed universities | Education Advisory A proposed 'special insolvency regime' for distressed universities has been rejected. Universities are responsible for their own contingency and exit planning.

⏳ Could a Time to Pay arrangement help your business?

If your company is struggling to pay its tax bill, an HMRC Time to Pay arrangement may allow you to spread repayments over an agreed period, helping to ease immediate cash flow pressures.

The sooner you act, the more options you're likely to have. Speaking to HMRC before the situation escalates can improve your chances of reaching an agreement.

Learn more about how Time to Pay arrangements work:

https://www.realbusinessrescue.co.uk/advice-hub/hmrc-time-to-pay-arrangement

What is a HMRC Time to Pay Arrangement? Whilst companies have the statutory right to request Time to Pay arrangements, HMRC has very precise guidelines which must be met before TTP can be agreed.

📘 Supporting accountants when clients face financial distress.

When a client is experiencing financial difficulties, knowing what advice to give—and when to refer for specialist insolvency support—can make all the difference.

Our FREE Guide for Accountants covers the warning signs of business distress, rescue and closure options, HMRC arrears, directors' responsibilities, and how accountants can work alongside licensed insolvency practitioners to achieve the best outcome for their clients.

Download your free guide here:
https://www.realbusinessrescue.co.uk/advice-hub/free-guide-for-accountants

Accountants Guide to Insolvency If you are an accountant searching for solutions on behalf of a distressed client, our free guide has all the information you need when it comes to business rescue, recovery, and closure.

💼 What happens to a Director's Loan Account if your company enters liquidation?

A Director's Loan Account (DLA) can have significant implications if your company becomes insolvent. Whether you owe money to the company or the company owes you, it's important to understand how your loan account will be treated during the liquidation process.

Knowing your position early can help you avoid unexpected issues and make informed decisions.

Read our guide:
https://www.realbusinessrescue.co.uk/advice-hub/understanding-directors-loan-accounts-and-liquidation

What happens to a directors’ loan during liquidation? If you have a directors' loan account there can be serious consequences if it is overdrawn when the company enters liquidation. Find out what you need to know