Written Question·Department for Business and Trade·UIN 40277
Conditions of Employment
Tabled: 21 March 2025
Answered: 31 March 2025
Question
Lisa Smart
Liberal Democrat — Hazel Grove
To ask the Secretary of State for Business and Trade, what assessment his Department has made of the potential impact of companies closing and subsequently setting up a new similar company, with the result of (a) job losses, (b) workplace bullying and (c)
Answer
Justin MaddersThe Economic Crime and Corporate Transparency Act 2023 introduced new measures to help combat ‘phoenixing’ - when a director dissolves a company to avoid debts or other responsibilities, to then set up another similar company. The accompanying impact asse...
ⓘ
This is an extract from the Parliament API. Search the full answer on Parliament.uk (UIN 40277) →