◆ BUSINESS OWNERS
Insolvency and recovery advice for business owners
Compare the practical options for the business while recognising the different roles of shareholders, directors and guarantors.
◆ UNDERSTANDING YOUR POSITION
Start with what needs to be protected
Owners may be concerned about investment, employees, customer relationships and their own income. Identify those priorities, but assess them alongside what the company can afford and the interests of creditors. Shareholder value alone cannot determine decisions when insolvency is a concern.
Explain what matters most to you, from preserving jobs to protecting customer relationships. Then bring the forecast, funding commitments and ownership details needed to assess what is achievable.
◆ 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.
Avoid decisions based on sunk costs
Money and time already invested can make closure difficult to consider. A realistic forecast helps distinguish a business with a recoverable shortfall from one that needs continuing support with no clear return to sustainable trading.
Plan the next step with the right people
Make sure the directors, accountant and relevant advisers work from consistent figures. Clarify any personal guarantees, shareholder loans and asset ownership. Rescue, a sale, restructuring or closure each has different implications, and none should be chosen solely because it appears the quickest or cheapest.
◆ PRACTICAL SUPPORT
Options to explore,
not a predetermined answer.
Explain what matters most to you, from preserving jobs to protecting customer relationships. Then bring the forecast, funding commitments and ownership details needed to assess what is achievable.
View all services →HMRC Time to Pay
Test recovery plans against the cash needed to keep the business operating.
HMRC Tax Arrears
Consider tax repayment discussions alongside owner funding and ongoing overheads.
Company Rescue & Restructuring
Include outstanding tax in the full picture of liabilities rather than treating it separately.
Winding-Up Petition Advice
Raise any company petition immediately and provide the papers to the advisers reviewing the position.
◆ YOUR FIRST CONVERSATION
A starting point for business owners
Explain the outcomes you want and the commitments that concern you.
Show the cash needed to trade and any further support owners are considering.
Agree which directors and advisers need to assess the options.
◆ FURTHER READING
Useful starting points
Tax arrears: a starting point for business owners ↗Repayment planning for business owners ↗Further guidance for business owners ↗Explain what matters most to you, from preserving jobs to protecting customer relationships. Then bring the forecast, funding commitments and ownership details needed to assess what is achievable.
◆ CONFIDENTIAL BUSINESS ADVICE
Put your next business decision into perspective.
Describe what you want to preserve, the pressure on cash and any money you are considering committing. Start with a review of the facts.
✓ Confidential first conversation
✓ Free and without obligation
✓ By telephone or video
◆ FREQUENTLY ASKED QUESTIONS
Questions, answered plainly.
What if I am an owner but not a director?
Explain your shareholding and your involvement in daily decisions. Identify the directors and who can provide company records so the discussion reaches the people responsible for the next steps.
Should I include money I have put into the business?
Yes. Show what was invested as share capital, lent to the company or paid on its behalf. Bring supporting records and identify any personal borrowing used to fund those payments.
Can we discuss a sale as well as continued trading?
Tell us whether there is buyer interest and what has been discussed. Include the operating forecast and ownership of key assets so a sale can be considered alongside other routes.