As a director of a company, you are under certain legal obligations and have specific responsibilities which you must maintain.
If your company is insolvent, you are likely to come under extra scrutiny and need to ensure that you have protected your position.
We are on hand to provide impartial advice to directors and advise you on how to justify your actions if a claim is made by an insolvency practitioner.
Contact us for more information.
HMRC is the largest creditor for many businesses. If your company has fallen behind with VAT, Corporation Tax or PAYE payments, we are on hand to give you independent advice and to remove the stress.
If you have received letters from HMRC in relation to company debts, do not despair.
We can provide a number of different formal and informal options to help resolve the issue.
Get in touch before the debts are out of control.
As a business owner, it can be very painful when you are owed money by one of your customers.
If a customer is not paying you, it is often the case that they may be in financial difficulty.
We are on hand to take insolvency appointments in relation to an insolvency company.
Using our forensic insolvency team, we are able to investigate the company and identify assets that may be available for a distribution to creditors.
Contact us for more information.
When you liquidate your company, its assets will be used to pay off its debts, and any remaining funds will be transferred to shareholders.
There are 3 types of liquidation:
– Creditors Voluntary Liquidation
– Compulsory Liquidation
– Members Voluntary Liquidation From £1,500 + VAT + Disbursements
Whatever the situation, our Insolvency Practitioner is able to take appointments as a liquidator of your company should you require it.
If your company is insolvent and facing threats from creditors, administration might be an option available.
A licensed insolvency practitioner will be appointed to take control of the company and formulate a plan to either rescue the company as a going concern or sell the business and assets.
It provides the company breathing space and protection from creditors and the objective is to achieve a better result for company creditors.
A Company Voluntary Arrangement (CVA) is a formal insolvency process which allows a company to come to an arrangement with its creditors to pay off its historic debts when it is unable to meet its repayments.
The key advantages to this process are that the directors retain control over the company and interest on the debt is frozen.
It also tends to provide a higher return to creditors.
UK Insolvency Specialists is a trading name of Inquesta Corporate Recovery and Insolvency Practitioners.
Inquesta’s dedicated insolvency team are on hand to assist you and your business with its financial difficulties.
We work with directors and creditors to ensure that the best outcome is achieved.
Our corporate insolvency practitioner will look at all options available to the company before implementing any formal insolvency process. This may be through restructuring the business, refinancing, structured cashflow management or debt negotiation.
If none of these options are appropriate, our Insolvency Practitioner can implement any necessary formal procedures.
Our Insolvency Practitioner, Steven Wiseglass, has over a decade of experience in practice.
Steven’s core specialism is advising directors of small and medium sized owner managed distressed businesses.
His ability to deal with a full range of formal and informal corporate insolvency appointments means that he possesses the necessary expertise to provide the most appropriate advice in the circumstances.
Through past experience of dealing with a full range of corporate recovery solutions, Steven has been able to help business owners save their companies and rebuild them to successful enterprises once again.
St John's Terrace, 11 - 15 New Road Manchester, M26 1LS
Princes Exchange, 2 Princes Square, Leeds, LS1 4BY
