Help for Directors

All businesses face the occasional financial crisis but when they become a critical problem you need to know exactly where you stand. In our help for directors section, you will find specific information for answering your questions around if you are insolvent, what you need to do if you are and how it will affect you.

Creditors Voluntary Liquidation

What is known as Creditors Voluntary Liquidation is the process that most businesses must go through if they are insolvent. It can be a difficult time for everyone involved, so we have created this special section of our site to give you the important facts about CVLs in a clear and down to earth way so you can see where you stand.

Members Voluntary Liquidation

This is when your company is still solvent, but you (and your fellow directors) decide it is time to call it a day and retire or move on to the next stage of your lives.  With an MVL, you will release the assets and use these funds to pay off the creditors before returning the remaining funds to the shareholders.

GDPR Privacy Notice


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GDPR Privacy Notice


Smart Business Recovery Limited ("We") are committed to protecting the confidentiality and privacy of information provided to us. We comply with the EU General Data Protection Regulation (GDPR) and the UK Data Protection Act. Please read this Privacy Policy to learn about your rights, what information we collect, how we use and protect it.

This policy together with our terms of use and any other documents referred to on it sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. 

For the purpose of the Data Protection Legislation and this notice, we are the ‘data controller’. This means that we are responsible for deciding how we hold and use personal data about you. We are required under the Protection Legislation to notify you of the information contained in this Privacy Policy.

Our Data Protection point of contact is responsible for assisting with enquiries to this Privacy Policy and or our Data Protection point of contact you can do so using the contact details noted at 2 below.

1.    Definitions

Data controller - A controller determines the purposes and means of processing personal data.

Data processor - A processor is responsible for processing personal data on behalf of a controller.

Data subject – Natural person

Categories of data: Personal data and special categories of personal data

Personal data - The GDPR applies to ‘personal data’ meaning any information relating to an identifiable person who can be directly or indirectly identified in particular by reference to an identifier (as explained in Article 6 of GDPR). For example name, passport number, home address or private email address. Online identifiers include IP addresses and cookies.

Special categories personal data - The GDPR refers to sensitive personal data as ‘special categories of personal data’ (as explained in Article 9 of GDPR). The special categories specifically include genetic data, and biometric data where processed to uniquely identify an individual. Other examples include racial and ethnic origin, sexual orientation, health data, trade union membership, political opinions, religious or philosophical beliefs.

Processing - means any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.

Third party - means a natural or legal person, public authority, agency or body other than the data subject, controller, processor and persons who, under the direct authority of the controller or processor, are authorised to process personal data.

2.    Who are we?

Smart Business Recovery Limited is the data controller. This means we decide how your personal data is processed and for what purposes.

Our contact details are: Smart Business Recovery Limited, The Old Rectory, Main Street, Glenfield, Leicestershire, LE3 8DG. For all data matters contact Gavin Bates on 0116 2325117 or

If you have questions or comments about this Privacy Policy or how we handle personal data, please direct your correspondence to the Smart Business Recovery Limited, The Old Rectory, Main Street, Glenfield, Leicestershire, LE3 8DG or email

3.    How we collect personal data

We may collect information in the following ways;

Directly – We obtain personal data directly from individuals in a variety of ways, including obtaining personal data from individuals who provide us their business card, complete contact forms, attend events, visit our office. We may also obtain information personal data directly when, for example, we are establishing a business relationship, performing professional services through a contract or through hosted software applications.

Insolvency Services – We obtain personal information in our insolvency work, initially to enable us to assess the insolvency options available to you or the Company and subsequently, to enable us to deliver insolvency services to our clients and meet our legal responsibilities, which is a legitimate interest.

This will involve us sharing your personal data or personal data that you control, as part of the provision of those insolvency services.

For example, we will require details of employees in an insolvent company in order for is to calculate outstanding pay, holiday pay, redundancy pay and pay in lieu of notice. That information is shared with the Insolvency Service, the government department responsible for making these payments to ensure that these payments are correct and as part of the insolvency process.

Our services may also include processing personal data under our client’ control on our hosted software application, which may be governed by different privacy terms and conditions.

Public Sources – Personal data may be obtained from public registers (such as Companies House), news articles, sanctions lists, and internet searches

Social and professional networking sites - if you register or login using social media we may collect information and content. This may include your name and email address and depending on your privacy settings, additional details about you.

Recruitment Services – We may obtain personal data about candidates from an employment agency, and other parties including former employees and credit reference agencies.

4. The categories of personal data concerned

With reference to the categories of personal data described in the definitions section, we process the following categories of your data:

5. What is our legal basis for processing your personal data?

We may rely on the following lawful reasons when we collect and use personal data to operate our business and provide our products and services;

More information on lawful processing can be found on the ICO website

6.    Sharing your personal data

Your personal data will be treated as strictly confidential. We may occasionally share personal data with trusted third parties to help us deliver efficient and quality services. These recipients are contractually bound to safeguard the data we entrust to them. These include the following categories

7.    How long do we keep your personal data?

We keep your personal data for no longer than reasonably necessary for a period of 6 years following the conclusion of our appointment in order to HMRC rules and regulations and also those of our regulators.

8.    Your rights and your personal data

Unless subject to an exemption under the GDPR, you have the following rights with respect to your personal data:

9.    Transfer of Data Abroad

We do not store personal data situated outside of the European Economic Area (EEA).

10. Automated Decision Making

We do not use any form of automated decision making in our business

11. Further processing

If we wish to use your personal data for a new purpose, not covered by this Data Privacy Notice, then we will provide you with a new notice explaining this new use prior to commencing the processing and setting out the relevant purposes and processing conditions.

12. Changes to our privacy policy

Any changes we may make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail. Please check back frequently to see any updates or changes to our privacy policy.

13. How to make a complaint

To exercise all relevant rights, queries or complaints please in the first instance contact our Gavin Bates on 0116 2325117 or

If this does not resolve your complaint to your satisfaction, you have the right to lodge a complaint with the Information Commissioners Office on 03031 231113 or via email or at the Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF, England.



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