STRUGGLING WITH COMPANY DEBTS?
When a company is struggling due to escalating debts owed to creditors such as HMRC and trade suppliers, it can be a hugely distressing time. The reality is that this situation is extremely common; particularly in the UK’s current trading environment where every sector seems to be under pressure.
Unfortunately, creditor pressure won’t just stop unless you take action. Those persistent phone calls, final demand letters, and invoice reminder emails will not go away if you put your head in the sand. And HMRC are becoming increasingly aggressive in pursuing tax arrears and taking directors to court with increased regularity. Which means the best time to take action is now – before the insolvent position of your company worsens, and possibly starts to affect you personally.
At UK Liquidators, we help hundreds of company directors just like you by putting a stop to creditor pressure and protecting your business from incurring further debt. You have a legal duty as a director to stop trading if your company is insolvent – by continuing to trade, you are deemed to be worsening the position of creditors even if you believe you can trade out of the situation and back into profitability. Unfortunately, in our experience assisting directors on a daily basis, this is a very rare occurrence. By taking the earliest possible action and contacting us, we can quickly ascertain whether liquidation is the right course of action or if a restructuring and turnaround process is realistically achievable.
If your company is insolvent with no realistic prospect of things improving, here is the good news; you and your company are separate legal entities and there is a good chance that you can walk away from certain company debts – we can show you how.
We also work closely with the UK’s leading redundancy claim specialists; a regulated firm with 30 years’ experience advising directors on personal and staff redundancy. This means that while we assess the viability of your business, they can assess your potential director redundancy claim which, in many cases, can easily cover the cost of the liquidation procedure – essentially providing you with free company liquidation. The average figure awarded to directors following liquidation is £9,000.
FREE & CONFIDENTIAL ADVICE
Are any of these debts familiar?
- Corporation Tax
- VAT Arrears
- PAYE Arrears
- Trade Creditors
- Bank and Credit Card Loans
- Business Rates
- Utility Bills
- Vehicle Leasing
- HMRC Fines and Penalties
- Lease / Landlord Arrears
If any of these debts strike a chord with you and you’re concerned about these liabilities escalating, liquidation may be the best route forward before matters get worse. Remember, directors are legally obliged to stop trading if, by doing so, they are worsening the position of the company’s creditors.
Our objective is to close your company in the most efficient and effective way possible – we can quickly free you of the stresses and strains which directors carry with them not only at work but also at home. We see the same emotions time and time again – tired of being chased for payment by creditors, tired of letters falling on their doormat, tired from sleepless nights – and generally just worried sick about the future. We can help.
You are not alone in your current circumstances. The first thing to do is either call us on 0800 063 9262 or take our 60 Second Liquidation Test. Our compassionate and highly experienced insolvency advisors do not judge and our process is 100% confidential; in many cases we can start the liquidation proceedings immediately.
We are proud to set the standard across the director advice sector with 80 licensed insolvency practitioners in more than 70 UK offices handling more corporate insolvency appointments than any other firm.
It’s time to take expert advice from UK Liquidators.