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Limited Company

If you own a limited company and are struggling with debt, we have a range of insolvency services to help save your business and take the pressure off:  

Informal Arrangement: Getting Creditors to take instalments over a few months. Usually the maximum HMRC will run to is six months.

Refinance: If there are assets that can be financed e.g. Book debts factored, plant, vehicles or property.

Company Voluntary Arrangement (*CVA) 3 to 5 Years: The business has a future if the current debts can be frozen. Usually reduced payment is made to creditors over 3 years.

Company Voluntary Arrangement (*CVA) Lump Sum Payment: The business is viable and a third party has offered a lump sum in full and final settlement (perhaps a family member) or trading will continue until the business is sold.

Creditors Voluntary Liquidation (CVL): When the business cannot be made profitable even with the ld debs frozen or the owner does not wish to continue. The company ceases to trade and goes into liquidation.

Administration: A freezing order that gives time to review the options e.g. a sale of the business, a CVA or liquidation. It stops creditors enforcing security.

Pre-Pack Administration: This involves lining up a buyer for the business just before it goes into administration. It means the business can usually carry on with minimal disruption. It can be sold o an unconnected buyer or the existing directors.

Compulsory Liquidation: When a creditor petitions and forces the company into liquidation or the directors have very little funds and petition themselves.

Members Voluntary Liquidation (MVL): When the company is solvent a tax efficient way of turning he reserves into capital gain thereby paying just 18% tax.

Notes:

*Individual or Company Voluntary Arrangement: When creditors’ claims including suppliers, rates, HMRC, unsecured bank loans are frozen whilst time is given to repay some of the debt.

We have offices throughout the South West and offer free initial consultations.

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With 25 years' experience of dealing with insolvency
we know its important for us to put you first.
Find out how we
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Kirks Insolvency - Rescue, Recovery and Insolvency

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