Difficulty managing cash flow? Tax bill? How we can help
In some cases, cash flow problems can be temporary. You might have incurred some unbudgeted expenditure or one of your bigger customers might be delaying payment to you. However, if your cash flow is restricted and you cannot pay your creditors when their invoices are due for payment, then technically, your company is insolvent. (This includes payments to HMRC for VAT and PAYE).
If this describes your situation, you must take action. Doing nothing is not an option. Surveys show that the longer you delay seeking advice, the more likely it is that your company will fail. Further, if you delay payment to your creditors because of cash flow difficulties, and don't keep them properly informed, you might find that one of them takes action against you. This could result in the appointment of a provisional liquidator to your company.
If your difficulties are not too severe or are only temporary, mlm's corporate solutions and turnaround team can help you to work through them.
If your problems are more severe, there are insolvency procedures which can give you some breathing space and help return your business to solvency - the ‘rescue' procedures, like administration and company voluntary arrangements.
Liquidation is designed to deal with the death of a company and winding up it's affairs in an orderly manner. If you are in partnership or are a sole trader, take a look at our small business bankruptcy or debt arrangement scheme pages. You might also find our protected trust deeds page helpful.
However, there's no substitute for face to face advice. We offer a free 2 hour consultation. Contact us or call 0845 051 0210