For Business
Business Recovery & Insolvency
If your business is experiencing financial difficulties, or you’re looking for tax-efficient exit planning, we can provide frank and proactive advice on the options available to you.
We will work closely with you to get a clear picture of your financial position and get an insight into both your immediate needs and long-term goals. As one of the UK’s Top 35 independent Chartered Business Advisers, we’ll give you the clarity and confidence you need to make the right decisions.
Working together
When you’re faced with financial worries, time is of the essence. We’ll act quickly and our insolvency experts will explore all the potential solutions to avoid a cessation of your business.
If, on the other hand, your business is solvent and you are looking for tax-efficient exit planning, we can help you find the most appropriate way to distribute funds to shareholders.
Many aspects of business recovery and insolvency are complex and involve the understanding and proper interpretation of the law. We have extensive experience advising limited companies, partnerships and sole traders and can provide flexible advice to suit your business situation.
How can we help you?
A Creditors Voluntary Liquidation (CVL) is the most common insolvency procedure often utilised when a company is in severe financial difficulties.
We assist directors in navigating the procedure to place companies into CVL and then act as Liquidators, becoming the custodians of the business.
An Administration is a common ‘rescue’ tool available when a company is experiencing financial difficulties. Administrations have the benefit of the ‘moratorium’ preventing creditors from taking action against a company without the leave of the court.
There are three statutory objectives, of which one must be satisfied to enable an Administration to take place.
We often assist directors to implement an Administration and then become the appointed Administrators, becoming the custodians of the business.
A Company Voluntary Arrangement (CVA) is a procedure available when there is likely to be a greater return to creditors from continuing to trade than in a winding up. The CVA acts to bind all creditors to the terms of the proposals.
The proposals are drafted and issued to creditors to consider. If creditors vote to approve the proposals, an Insolvency Practitioner is appointed as the Supervisor to ensure the terms of the proposals are adhered to and collect any contributions for creditors.
We can help directors to draft proposals, act as Nominee and act as the appointed Supervisors of any approved arrangements.
Insolvency will have an impact on most businesses during their lifetime. Whether it is in the form of a period of short-term cash flow, a customer entering into a CVA or the need for formal restructuring, we are here to help and advise when such issues arise.
We have experience with advising on a vast range of issues including retention/reservation of title, disputes or informal wind down.
There are several options available to individuals who are suffering financial distress. The suitability of those options is very much down to the specific circumstances.
We can advise on the options available including Bankruptcy, Individual Voluntary Arrangement (IVA) or informal arrangements.
A Members Voluntary Liquidation (MVL) is a solvent procedure used at the end of a Company’s life. This could be after the sale of a business and assets or pending retirement of an owner managed business.
Often the use of a MVL enables capital to be returned to Shareholders in the most tax efficient manner as opposed to funds being distributed before a strike off.
We can assist you to extract funds from your business in a timely manner, whilst retaining your current professional advisers.
We pride ourselves on providing an excellent and valued service and undertake a significant number of MVLs each year. Please contact a member of the team below to discuss your needs today.
