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Winding up a company - get debt help

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My Company is Bust! See if a Company Voluntary Arrangement will work

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Company Liquidation (CVL)- use our debt help team

Advice for a company in the recession

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Corporate Rescue – how to save your business in these hard times.

Corporate Turnaround

Corporate Winding Up- Take early advice to avoid wrongful trading

Creditors Insolvency – How to deal with a statutory demand

Creditors Liquidation- It is important to take early and expert advice.

Creditors Voluntary Arrangement (CVA)

Directors Insolvency – How to deal with a Personal Guarantee

Director's Liquidation a name for a CVL

Directors Voluntary Liquidation (CVL)– A Guide to the procedure.

Directors Winding Up – how a director liquidates an insolvent company

How an Insolvency Practitioner can use Administration to save a business

How do I shut down my insolvent company? We provide help with debt

More pointers to whether your company is insolvent

Indicators to insolvency

Is my business insolvent.

Is my business insolvent part 1.

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Is Your Company facing Corporate Bankruptcy? Did you know there is a solution for you?

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Winding up a company in 2010

Company Tax Debt

Dealing with car finance loans and debts

Small Business and sole trader debt advice

Reusing a company name after insolvency

Small Company Tax Debt – Help and Advice

Fresh start for a Limited Company

I need help to shut down my company

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How to spot a potential business failure

How to get paid thereby avoiding insolvency

How to get your accounts paid

Ten Top financial reasons for business failure

A further ten financial reasons why businesses fail

Ten management reasons why businesses fail

Seven Marketing Reasons Why Businesses Fail

Ten signs that your business is in trouble

A company in trouble – the appropriate time to seek advice

Is your small business in trouble – 7 signs

I need to close my company after Christmas

I can’t pay my firms wages after Christmas

Can you trade your business after Christmas

Can I close my company before Christmas?

Need help to Liquidate a business?

Pre-pack administration in Leicester, Nottingham, Derby, Coventry Birmingham and Stoke

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

Insolvency of a company in Leicester, Nottingham and Derby

Birmingham, Stoke, Coventry - How to wind up an insolvent company

Help Going Bankrupt for the company director

January Tax Problems – Is your Tax taxing?

Director claiming redundancy and other payments in Insolvency

Find debt help- Creditor’s Voluntary Liquidation

Bankruptcy Issue fee to rise again

Have you had a statutory demand served on you by AIC debt collectors

How Factoring Works

How the charges for a cash flow finance facility are generally calculated

Why Factor your cash flow?

Invoice Discounting Explained

FastCash when you really need it

FACTORING FOR RECRUITMENT AGENCIES

FINANCE FOR PRINTERS

PAYROLL FINANCE AND BACKOFFICE

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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Can you trade your business after Christmas

We get many people who call us and say that they cannot trade on after Christmas. It is a sad fact that Christmas sees the demise of many businesses. It is a tough time to close a business as it has the propensity to ruin the festive period for people, but as a director you have a legal obligation to make sure that you close an insolvent business as soon as you know that it cannot be turned around. To do anything less would be to open yourself up to the danger of a wrongful trading action.

 If you cannot trade after the closure for the Christmas break, you actually need to take steps about three to four weeks before Christmas, to close the old company. This has a two fold effect. If you take steps to liquidate your company early, you will have time to create a new limited company, and put steps in place to put any new works into this venture.

 It takes about three weeks to get together all the information needed to prepare a statement of affairs for a meeting of creditors and give statutory notice to creditors of the meeting. A qualified insolvency practitioner is the only person qualified to do that. To help the IP you need to get together a statement of all your creditors and also your debtors and other assets. These are put into a financial statement which proves that you cannot pay your debts as and when they arise, or that that your liabilities are greater than your assets. Faced with this the creditors have no choice but to vote to wind up the company.

It is often the case that you will be able to negotiate a deal with the liquidator of the old business to buy back the assets, such as they may exist, and any customer lists and work in progress.

 If the business is one which needs protection to continue to trade, then this can be achieved via an Administration Order, which places legal protection over the business whilst a plan is put in place to get a better realisation for creditors, save the business as a going concern or put in place a CVA.

 So if you find that you will not be bale to trade after Christmas, you need to be taking active steps now to get a professional on board to help you.    

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