COMPANY INSOLVENCY & PHOENIX COMPANY ADVICE
Protect & preserve your business & write-off all company liabilities
COMPANY INSOLVENCY & PHOENIX COMPANY ADVICE
Protect & preserve your business & write-off all company liabilities
Protect & preserve your business & write-off all company liabilities
Protect & preserve your business & write-off all company liabilities
Your business can become totally debt free, and continue to trade via a phoenix company, which is perfectly legal, subject to certain conditions and criteria being met, as the Enterprise Act 2002 and subsequent insolvency legislation in the UK actively encourages business rescue and the survival of the core business via a phoenix company scenario.
We can ensure that your business continues to trade, and protect you and your business and its assets. All of our clients who wished to retain their business have done so, the majority through a planned, structured insolvency process, which has ensured a secure, seamless transfer of the business (and assets) to a new, debt-free phoenix company. We work for you, not your company's creditors, and give honest, pragmatic advice on the very best and most beneficial options for both you and your business.
Rest assured that you can protect and preserve your business and its assets. Alternatively, you can choose to simply close the company and walk away without any personal liability.
A phoenix company is pefectly legal. We specialise in helping directors of struggling companies to navigate the complex and daunting process of company insolvency. Our team of experienced professionals provides tailored solutions to ensure a seamless transfer of your company's business and assets to a new, debt-free, phoenix company, via the liquidation or pre-pack administration of the old company, writing-off all liabilities, including any monies due to HMR&C, banks, bounce back and business recovery loans etc. With expert industry knowledge, we guide you through every step, maximising the best possible outcome for you and your business using the UK's company rescue insolvency legislation.
We will detail the various options available to your company, highlighting the pros and cons of each particular option, and we will also identify the financial benefit to you and your business of each option.
We will recommend what we believe is the best course of action to save your business, bearing in mind the cost implication of each option available, and after this initial review of your company's circumstances, we will agree a fixed cost, which is based on the circumstances relating to your company's particular financial affairs and structure, and will include all costs associated with transferring the business to a new, debt-free phoenix company.
In any scenario, we assure you that your business will significantly financially benefit, and be in a much stronger financial position, as all liabilities will be written-off, and if required, the transfer of ownership of the old company’s assets will include the book debts (sales ledger) of the old business, significantly improving the cash-flow of the business.
All costs will always be agreed in advance and fixed, and will be based solely upon the benefit directly achieved by your business, and in most circumstances, will be borne by the assets of the company itself, and therefore will not place a greater burden upon the financial resources of your business.
All company liabilities are fully written-off. The business can legally continue to trade, via a phoenix company, with the assets remaining in-situ, but without the burden of any historical debt, which is all written off.
The phoenix company will seamlessly carry forward the trading of the business, retaining the goodwill & assets, albeit with a fresh start free of any historic liabilities, significantly improving the cashflow of the business.
Alternatively, you can choose to simply close the company and walk away without any personal liability.
As an alternative to formal insolvency, Company Debt Management Plans are used where a company is struggling to pay its debts, but with some breathing space from its historical debt, could well become profitable again. The company's debts are reduced and rescheduled into a monthly, manageable payment over a period of time, with a significant percentage of debt written-off.
In the appropriate circumstances, they can be an effective method to resolve company debt problems, and in between 12 to 60 months (or less), the company will be debt free, with all the outstanding debt being written-off.
Enforcement action for arrears of VAT, PAYE/NIC & corporation tax can be stopped
All business loans can be fully written-off
We can stop all creditor pressure and will deal with creditors on your behalf
Any expensive or unnecessary leases or agreements can be terminated
Enforcement action can be stopped, protecting your company’s assets
Company liquidation can result in certain transactions being overturned or deemed to be voidable, resulting in personal liability. We will ensure no such circumstances arise
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