As Licensed Insolvency Practitioners, we will help you through the whole process to ensure that you comply with all your duties and the relevant legislation.
We can help you through the process to ensure that all the legal requirements are met. Crucially, we can introduce you to those lenders who are keen to lend to business re-starts.
The goodwill, assets and customers of your struggling business can be separated from the limited company. This transaction will be subject to a professional valuation by a RICS regulated firm of chartered surveyors.
A new company can then be set up so you can continue trading, without the burden of the old debts. Trade creditors will usually be prepared to continue trading with you – albeit this may be on a pro-forma payment basis for the first few months. This is why it is so important to have full working capital finance in place.
We have helped numerous clients through this process and we can help you. Click here to see an example.
HMRC often insist upon a Bond for future VAT to be put in place when a company has been re-started and HMRC have suffered a loss. The cost of this Bond can cause problems at a time when cash flow is very tight. We have access to a number of factoring companies who are able to offer an over-advancement to cover this Bond.
If an advisor tells you that they will look after just the interests of the directors and that you don’t need to worry about anyone else – then they are acting outside the law.
We act within the law to help you:
- Deal with the Insolvency
- Get your business back on track
- Help you move forward
And, crucially, you can do all of this without having to look over your shoulder because you will know that everything has been done correctly and legally.