WRITE OFF YOUR BUSINESS DEBT
It Could be Easier Than You Think.......
Is your business struggling to generate enough cash to pay all the bills?
Are you getting hounded by creditors?
Do you have a big Vat or Tax bill that you can’t pay?
If you answered yes to any of the above we have a solution for you.
We can help you set up a new Company to legally buy the assets of your old, struggling Company.
You can have a fresh start as a debt free business. You can legally leave behind tax debts, disputed creditors and legal actions.
You may even be able to get rid of past their sell be date employees without paying redundancy.
How does this work?
Easy! We will arrange for someone to buy your business and wind it down in an orderly way.
Our nominee will step into your shoes as director of the Company and insulate you from the problems you’ve been facing.
Before you transfer your business, our legal team will set up a new limited company and prepare contracts to sell the assets from your old Company to your new Company.
We will arrange for someone to buy your business and wind it down in an orderly way.
Our goal is for you to have a new, debt free company as quickly as possible.
You can focus on what you do best – running your business and looking after your customers. Our team will deal with all the crap that you don’t have the time or inclination to deal with.
We will speak to HMRC and explain that the Company is no longer trading.
We will write to the Company’s creditors, explain what has happened.
We will deal with legal threats and writs.
We will change the name of your Company so that your new business can trade with the original name if you want.
We will help you deal with personal guarantees.
Unfortunately these can’t be left behind but they could be vastly reduced.
We will deal with Companies House filings.
We will close down the bank accounts.
Why you shouldn’t appoint an Insolvency Practitioner
If your accountant or lawyer advises you to immediately appoint an insolvency practitioner because “it’s illegal to trade whilst insolvent’ think long and hard before you do that.
An Insolvency Practitioner is never on your side. He is on the side of your creditors.
He will be heavily influenced by large creditors like HMRC.
He will seem friendly until you appoint him but there is a very real danger that he’ll turn out to be your worst enemy.
Life could potentially be very difficult if you want to start a new Company to take over where the old one left off.
There are also many stories of liquidators or administrators suing Company directors and going after their personal assets.
In addition they can file negative reports to government agencies leading to disqualification proceedings and other such distractions.
Be careful what you tell your accountant………….
Most people when faced with a struggling company take advice from their existing professional advisers such as lawyers and accountants.
You should be very careful discussing some issues with accountants, in particular.
Accountants have a legal duty to report you to the authorities if they think you’re doing anything illegal.
There have been numerous prosecutions where accountants have reported clients for Vat and Tax issues because they thought their client was breaking the law.
Of course it’s not illegal not to pay Vat or Tax. It’s only illegal to put in a false return. Obviously you should never do this or break the law in any way.
Our team, which includes lawyers, ex insolvency practitioners and people like you who have been through this before, can help with these matters better than anybody else.
For help with your insolvency strategy and restructuring your business email or contact us here