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ICF-WPG
Starting Member
1 Posts |
 Posted - 14 October 2010 : 08:32:51
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Hello,
I have a big problem and I hope you can help me.
Has a company, which is insolvent or going to be insolvent, report a financial statement or is it enough to make cash basis accounting? Where is it standing, I have nothing found in the standards like enterprise act, insolvency act or uk-gaap?!
A other question is, does a stub year exist in UK?
Thank you a lot in advance.
Best regards from Germany
ICF-WPG
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 15 October 2010 : 17:19:31
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Hi ICF - WPG
Are you intending to petition for bankrupty in UK or Germany ?
Big clamp down on so called bankruptcy tourist so you will have to have all of the paperwork in right order.
If You are an Expat living in Germany, you may be under certain circmstances be able to ask a third party to obtain a Lasting power of Attorney and get them to petition at high court for you.
I still have not asnswered your question and a specific question shold be forwarded to one of the expert, I know Paul at Reviva, is very good on companies and LPA's he might be worth an email or call
good luck Richard |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 15 October 2010 : 19:24:42
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Hi and welcome to the forum. As this is a complicated situation I would recommend speaking to an expert, and any of the professionals who post on here will be able to help you. Their contact details are at the side of the page.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 15 October 2010 : 20:40:32
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I agree with Skippy that speaking to an expert would be good.
The advice should be free and impartial in the first instance.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 17 October 2010 : 00:24:23
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Hi ICF-WPG,
not sure what you are getting at here. Are you on about winding a company up, or personal bankruptcy? By cash basis accounting, do you mean the cash accounting scheme for VAT?
By stub year, are you saying that you are missing accounts etc for a certain period within a year, but have the rest?
But it's still the original question...what are you intending- personal bankruptcy, or the winding up of a company?
Big Al |
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Topic |
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accounting obligations in the case of insolvency
