◆ LIMITED COMPANIES
Insolvency and recovery advice for limited companies
Understand company debts, creditor pressure and the options for rescue, restructuring or an orderly closure.
◆ UNDERSTANDING YOUR POSITION
Assess the company as a whole
A limited company has its own assets and liabilities. Review the full position rather than dealing only with whichever creditor is applying the most pressure. Include HMRC, employees, finance providers, landlords and suppliers, as well as contingent or disputed liabilities.
Prepare a single view of assets, liabilities and current trading. Include disputed debts, finance agreements and the cost of meeting commitments already accepted.
◆ PRESSURE POINTS
Where pressure
needs a closer look
Bring these issues into the first financial review. The right starting point depends on the structure and the full position.
Separate company and personal exposure
Limited liability is important, but it does not settle every director concern. Personal guarantees, an overdrawn director’s loan account and the treatment of earlier transactions may require a separate review. Keep company records and personal commitments clearly identified.
Choose a route supported by the figures
A viable business may be able to negotiate repayments or consider formal restructuring. Where ongoing costs cannot be covered, liquidation may need assessment. The decision should be based on current accounts, realistic forecasts and the position of creditors, with advice before further commitments are made.
◆ PRACTICAL SUPPORT
Options to explore,
not a predetermined answer.
Prepare a single view of assets, liabilities and current trading. Include disputed debts, finance agreements and the cost of meeting commitments already accepted.
View all services →HMRC Time to Pay
Explore recovery where the company may have a viable trading future.
HMRC Tax Arrears
Consider an instalment proposal against the company’s ongoing commitments.
Company Rescue & Restructuring
Review HMRC balances as part of the full creditor picture.
Winding-Up Petition Advice
Identify the hearing date and current correspondence where a company petition has been issued.
◆ YOUR FIRST CONVERSATION
A starting point for limited companies
Combine cash, assets, creditor balances and outstanding commitments.
Distinguish expected receipts from disputed invoices and unconfirmed sales.
Assess the information needed to consider recovery, restructuring or closure.
◆ FURTHER READING
Useful starting points
Tax arrears: a starting point for limited companies ↗Repayment planning for limited companies ↗Further guidance for limited companies ↗Prepare a single view of assets, liabilities and current trading. Include disputed debts, finance agreements and the cost of meeting commitments already accepted.
◆ CONFIDENTIAL BUSINESS ADVICE
Review your company’s next step.
Bring the debts, cash position and trading forecast together. We will help identify what needs assessing before a route is chosen.
✓ Confidential first conversation
✓ Free and without obligation
✓ By telephone or video
◆ FREQUENTLY ASKED QUESTIONS
Questions, answered plainly.
Which creditor balances should the company include?
Include all known creditors, not just those chasing payment. Mark disputed amounts, secured borrowing and liabilities that have not yet fallen due so the review is not based on an incomplete list.
What if the business is profitable but short of cash?
Show when customers are expected to pay alongside payroll, tax and supplier dates. A forecast based on actual receipts helps explain the timing gap and the assumptions behind recovery.
Should asset values come from the accounts?
Bring the accounts but identify how values were prepared and whether assets are financed, pledged or subject to ownership questions. Note any recent independent valuation.