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Liquidation –Help for businesses in Coventry, Leicester, Stoke, Derby, Nottingham and Birmingham.
Company Voluntary Arrangement (CVA) and how it might help companies in Leicester, Nottingham and Derby.
Company Voluntary Arrangement (CVA) and how it might help companies in Birmingham, Coventry and Stoke
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Director claiming redundancy and other payments in Insolvency
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I cannot pay my corporation tax bill
How a Bulgarian citizen can declare himself bankrupt in the UK
What to do if you can’t pay your Corporation tax.
Bankruptcy Tourism in England and Wales
Are you a computer contractor who can’t pay their company tax?
How to close an insolvent Home information pack company
How to close a UK limited company
How Company Directors Can Recover Money from the National Insurance Fund
Winding up a small business with no cost to a director
Not enough money to pay corporation tax
Shutting Down a Limited Company
I recovered 3 directors £24,000 from the National Insurance Fund
Eight rules on why you need to control cash flow
What happens if you don’t pay Crown debtsHMRC have issued some very helpful guidance for businesses on their website about what could happen to your company if you fail to pay the Revenue what is due. As they say, HMRC is responsible for making sure that
Reducing the risk of non payment by a customerReducing the risk of non payment by a customer is a good way to keep cash flow positive and avoid any problems with insolvency. Remember cash is king but, unless you get paid in cash at the time of providing y
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Helping Breweries in trouble
In these hard economic times business is very hard. If you are a company director looking for a bit of advice because your brewery business is struggling, you have come to the right place. I have created many articles which try to help a director take the right steps in either closing or liquidating a business or pre-packing a sale and starting again.
Firstly if your brewery company is insolvent you have a duty as a director to close the company and not incur any further debt, unless you can be pretty sure that you can put in place a rescue plan to turn that business around. If you can't them you need to liquidate the company yourself or take professional advice on how best to close the business in an orderly fashion. For many breweries the main creditor will be the crown, in the shape of excise duty on the beer brewed. As real ale supporters we want to see as much real ale produced and distributed as we can. We will help you continue brewing if you so wish.
Help to avoid wrongful trading
By far the most popular choice is to engage an insolvency practitioner to call a meeting of creditors on your behalf, prepare the statement of affairs, hold the meeting and then deal with all the procedural aspects of liquidation necessary to make sure all creditors now what is going on and how they can participate in any dividend. This is called a CVL or creditors voluntary liquidation.
There is a fee for all this and generally it will be about £5000 whoever you use around the country. There are some advertisements for liquidations at less than this but by the time all costs are accounted for, it will still come in at about the same sum.
These costs can come out of the assets of the brewery company and indeed many businesses do have just enough assets or cash to take this final step. For many businesses, the central core of what the business does is still profitable and so often directors will want to continue to trade. This is easily possible and a sale of assets can be arranged to a new company and a lease re-assigned by a landlord, which often leaves the new company trading on in the same line of work from the same premises.
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