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What do we do with Bounceback Loans?

Lender Negotiation

We can act as intermediaries between the business and its lender, negotiating for more favourable repayment terms, such as extending the repayment period or reducing the monthly instalments.

Debt Consolidation

If the business has multiple outstanding debts, we can assist in consolidating them into a single loan with a more manageable repayment schedule. This can simplify debt management and potentially reduce the overall interest burden.

Creditors Voluntary Liquidation

We can help the directors through a Creditors Voluntary Liquidation process which allows for an orderly sale of the company’s assets to repay its creditors in a fair and transparent manner, limiting further losses.

Company Voluntary Arrangement (CVA)

In some cases, we can guide the business towards exploring a CVA. This legally binding agreement allows the company to propose a revised repayment plan to its creditors, potentially including a partial write-off of the BBL debt.

Our goal is business continuity. If you are financially distressed and want to continue running your business, we will find a way.

Expert Knowledge

Frequently Asked Questions

Yes – HMRC can absolutely chase a dissolved company. They have six years from the date of dissolution and twenty years if they believe and fraud or negligence has taken place.
Yes, you can. However, should your conduct as a director be called into question for the company you were a director of, you could be banned at a later stage.
No it will not. Being the director of a limited company limits the liability to the company. That is providing you have acted as any reasonable person would whilst running the business and not signed up to any personal guarantees or have an overdrawn directors loan account.
Please contact us at your earliest convenience. We can provide guidance on the Company’s ability to repay these amounts over time and assist in negotiating a suitable time-to-pay arrangement with HMRC on your behalf. Acting promptly increases the likelihood of HMRC providing assistance.
Fees vary depending on the level of work that needs to be undertaken and the level of specialism that needs to be given.
Disqualification under the Company Directors Disqualification Act bars former directors from holding director positions in UK-linked limited liability or overseas companies. They are also prohibited from involvement in setting up or managing such entities.