Is £17,000 a significant figure when disposing of a business?
Post date: 2019-11-18 12:28:38
Views: 143
UK (England) question. I've known of and worked for a couple of successor small businesses which were regularly (every other year) sold or reconstituted under extended family members. The figure of £17,000 has come up several times as the impetus for the change in reference to unpayable debts accrued by these businesses, e.g. as a utilities bill or as monies owed to suppliers. For curiosity more than anything, does this figure have any particular significance, e.g. some threshold for declaring bankruptcy or for de facto unpursued debts or something?
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