Business in difficulty: debt and insolvency guidance
If your business is under financial pressure, early and honest advice makes the biggest difference. We help you understand where you stand and what your options are.
Most business owners wait too long before asking for help with debt. The earlier you talk to someone, the more options remain open, from a simple time-to-pay arrangement with HMRC through to restructuring. We explain your position without judgement, set out the realistic routes, and bring in a licensed insolvency practitioner if a formal process is the right answer.
Who this is for
- Directors of companies under cash-flow pressure
- Companies with HMRC arrears
- Partnerships and sole traders
- Owners considering closing a company
What is included
- A clear review of cash flow, creditors and what is due when
- Negotiating time-to-pay arrangements with HMRC
- Turnaround and restructuring plans to get the business back on a stable footing
- Explaining your duties as a director when a company may be insolvent
- Setting out the formal options in plain English: company voluntary arrangements, administration, liquidation and striking off
- Introductions to licensed insolvency practitioners and support through the process
Simple to start, simple to keep going.
The first conversation is confidential and free. We ask for your latest accounts, bank statements and a list of what you owe, then give you a straightforward summary of your position and the options available, including the ones that do not involve formal insolvency.
My company owes HMRC. What should I do first?
Talk to us before HMRC escalate. HMRC will often agree a time-to-pay arrangement if it is proposed early with realistic figures, and we can prepare and present that proposal.
Can I just close the company and walk away?
Not if it has debts it cannot pay. Directors have legal duties once a company is insolvent, and the right route depends on the position. We will explain your options and what each means for you personally.
Will talking to you commit me to anything?
No. The initial conversation is free and confidential, and many of the businesses we speak to never need a formal process.
Often paired with insolvency & debt guidance
Making Tax Digital
Software set-up, digital records and every quarterly update filed for you by a registered HMRC agent.
Find out moreAccounts & bookkeeping
Year-end accounts, management accounts and tidy books kept up to date, so you always know where you stand.
Find out moreTax returns & VAT
Self assessment, corporation tax and VAT returns filed accurately and on time, with the reliefs you are entitled to.
Find out moreThinking of switching accountant? It is easier than you think.
Tell us a little about your business and we will come back to you within one working day with how we can help and what it will cost. Or speak directly to Craig, our senior partner, on 07949 534119.