What is Debt Negotiation?
Debt negotiation is simply working with your creditors to find a way to repay outstanding debts in a way that is manageable for your business.
The goal is to avoid any negative actions against your business such as; impact to your credit score, enforcement from debt collection agencies, formal demand letters, initiation of court and/or insolvency proceedings.
Why should you consider professional assistance?
Like most things in life, pro-activity is key. The earlier you start addressing the signs of financial distress the easier it is for you to overcome them.
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.