FAQs

From here you will find answers to the most frequently asked questions across all our services. Using the filter simply choose either business or individual to access the complete range of services available. Can’t find the answer you are looking for? Contact us to discuss your query.

When should I make a will?

A

As soon as you are aged over 18 years old. If you only have £1 in your bank account, you can still leave this money to your chosen beneficiary.

I want to challenge a will, do I need a solicitor?

A

It is a very sensible idea to speak with a solicitor about the process of challenging a will. We can fully inform you about how the law operates and we can assess the strength of your claim.

I need a will, how much will it cost?

A

Our prices start at £165 + VAT for a single will and £225 + VAT for a mirror will.

Can I close one company and start a new company with the same name?

A

There are certain restrictions on trading under a similar name and, therefore, you should always take legal advice before setting up a new company or trading.

What is the cheapest way to put my business into liquidation?

A

There are different ways in which to place a company into an insolvency process and the cost will depend on a number of issues

What happens to my staff if my business goes into liquidation or administration?

A

If a company goes into liquidation, it is likely that the business will be closed and any employees will be made redundant. If a company goes into administration, the administrator may ask some employees to continue to work although, in most circumstances, there will be redundancies. If an employee is owed wages, they may be able to make a claim via the insolvency practitioner appointed or through the Redundancy Payments Office.

How do I know if my business is insolvent?

A

If the company is unable to pay its debts as and when they fall due, the directors should seek professional advice from a solicitor or an accountant as to the options available.  In some cases, if advice is sought immediately, the business can be saved.

How do I know if I am insolvent, what should I do next?

A

If you believe that you may be unable to pay your debts as and when they fall due, you should seek professional advice from your solicitor or accountant as to the options available to you.

What is administration?

A

Administration is a formal insolvency procedure whereby an administrator is appointed by either the court, the directors of the company or a floating charge holder. The purpose of the administration is to either attempt a reorganisation of the business or to take steps to sell the company’s assets under the protection of a moratorium. Creditors cannot take steps against the company whilst it is in administration but they may be able to recover goods under a retention of title clause.

What is liquidation?

A

There are different forms of liquidation including members’ voluntary liquidation, creditors’ voluntary liquidation and compulsory liquidation.  A members’ voluntary liquidation is where a company is solvent and able to pay its debts but the shareholders wish to cease trading and wind up the company’s affairs.   A creditors’ voluntary liquidation is where the directors of a company believe that the company is insolvent and can no longer trade. A compulsory liquidation is where a creditor of the company applies to the court for an order winding up the company.

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