Tax Problems
Free Business Advice
We offer a free advisory service to business owners that find themselves with Tax arrears or creditor pressure. There are many reasons that a business can find themselves in this position, it could be cash-flow problems caused by customers not paying or ceasing to trade, or possibly decrease in turn over.
Often, we find that a simple loan can fix the problem but in other cases a company may need to seek formal business rescue advice. We have helped many businesses in this situation and with our expertise we are able to advise on the best course of action.
We understand this is a difficult time, but taking the first step is so important. Get in touch today and we will help recover your business, and support you every step of the way.
Business Rescue Options
Commercial Administration
What Is Administration?
Administration is there to protect a company whilst it achieves its aim, whilst placed in administration the company will be under control of an insolvency practitioner. The practitioner will be given the title of ‘Administrator’ and will protect the company from creditors. This will prevent actions against the company without permission from the court or administrator.
Members Voluntary Liquidation
What Is Members Voluntary Liquidation?
As a company owner with or without shareholders, you may decide to wind up the company, providing the company can pay creditors in full.
Company Voluntary Arrangement
What Is a Company Voluntary Arrangement?
A CVA known as a Company voluntary arrangement, could be the solution for a company suffering from a short-term cash flow problem. It enables an insolvent practitioner to meet an agreement with its creditors to stop or delay any compromising actions against the company.
In most cases creditors will agree to a CVA, especially if the company will return to a better financial state particularly if the only option is the alternative being company liquidation.
Compulsory Liquidation
What Is Compulsory Liquidation?
Compulsory liquidation is designed to wind up a business to pay creditors that are owed. This compulsory liquidation will be instructed by a court order. If the debt is more than £750 the creditor can present a winding up petition to the court to reclaim the monies owed.
Business Loans
Why Do I Need a Business Loan?
Business loans can be taken out for many reasons. One reason that some businesses don't think about is using a business loan for financial arrears. The busiest times that we have seen is January and April when businesses are running low on finance to pay the HMRC tax bills. You know - Quarterly VAT, corporation tax and PAYE. This secret is having a plan in place to settle tax bills.
