A Guide for Accountants When Dealing With Insolvent Clients

If you need specialist help for any of your clients who are experiencing serious cash flow issues, Real Business Rescue can work alongside your practice as a supportive partner.

Providing the specialist advice and guidance your clients need adds weight to your own service offering, and gives them the best chance of business survival in uncertain times.

We help accountancy practices around the UK to extend their professional services, seamlessly working alongside our long-established insolvency firm. You add another string to your bow and potentially become instrumental in helping to save your client’s business in the long-term.

You can protect your practice income through an invaluable service that’s not only in wide demand, but one that also helps the economy to continue prospering and keeps businesses flourishing.

What services can we offer to you and to your clients?

Access to the best finance options

Refinancing may just provide the cash boost needed to get your client back on track and out of insolvency. As an established insolvency practice we’ve developed excellent working relationships with a wide range of lenders, including invoice factoring and discounting companies, asset-based lenders, and crowdfunding platforms.

Providing an understanding of the advantages and disadvantages of all the options and how each could impact your client’s business helps us to identify the most suitable solution and quickly put it to good use.

Discussions with your clients’ bankers

The input of an insolvency expert can be instrumental in getting the bank onboard, whether your client has fallen behind on loan repayments or simply needs access to further lending or an increased overdraft facility.

It’s not always easy for business owners and directors to get a clear message across when they make contact with the bank. It’s a stressful position to be in, and the pressure of gaining a good result sometimes leads to miscommunication.

This is where our experience and professional standing is integral to a successful outcome. Our clear style of presentation and strong powers of persuasion have been known to make the difference in many cases where funding had previously been refused.

Advice on the provision of personal guarantees

Providing a personal guarantee might seem like a good idea to your client if they’re struggling to obtain finance due to being a start-up or having a poor credit history but many business owners fail to understand the inherent dangers and consequences of such an action.

The decline into insolvency can happen quickly and what once seemed like a distant threat to your client’s personal finances suddenly becomes a real possibility. Our advisors offer guidance to directors and business owners about the pros and cons of providing personal guarantees in various circumstances.

We’ll discuss the very real threat of personal liability that’s present with every guarantee, how your clients can protect their personal finances with specific insurance, and if you’ve already advised them against it, support your opinion when it’s really not appropriate to offer such a guarantee.

Full review of your client’s business

A full review identifies the problem areas where money may have leached out of your client’s business and caused a decline into insolvency. Not only do we provide a clear picture of where savings can be made, but we can help your clients plan for the future with greater confidence and cash flow know-how.

With your own detailed knowledge of your client’s business, their history and potential for future profit, our partnership can provide vital input and help to save a business that has simply lost its way. 

Formal insolvency procedures

Our experts offer guidance on the best route for your clients in insolvency, whether this involves a pre pack sale of the underlying business assets, formal negotiations with creditors for extended payment terms, or liquidation if that’s the only option.

We make sure that the legislative procedures inherent in all insolvency routes are followed so that any potential damage to your client’s reputation is controlled, and help to soften the blow the end of their business may bring.

Referring work back to you

In our day-to-day operations we often deal with business owners who have been mis-advised by their current accountant, and this has contributed to their poor financial situation. By working with trusted accountants such as you, we are able to recommend your services and open up ongoing possibilities for new business in your practice.

We also have a regular need to commission accountants for auditing purposes within our insolvency and forensic work. This provides further opportunities for referrals back to our trusted partners.

Here are just a few of the other benefits that a working partnership with us can bring to you and your clients:

  • Free initial consultations

We offer a free initial meeting with you and you client to discuss their needs, and the overall financial position of their business.  

  • No threat to your own business

Because we aren’t auditors, we pose no threat to your accountancy business. We’ll simply work alongside you to provide a seamless service that provides real benefit to your clients.

  • Offices throughout the country

Real Business Rescue has 37 offices across the UK. The fact that we serve local companies gives us an innate understanding of the economy in which they operate - its unique challenges, opportunities and threats as experienced by your clients.

  • Part of the largest insolvency advisory practice in the UK

Our parent company is Begbies Traynor Group and together we are the largest insolvency practice in the country. Specialising in the provision of insolvency advice to distressed companies, we not only have the advanced technical knowledge but also the practical experience to make a difference to your clients.

Why choose Real Business Rescue as your insolvency advice partner?

Business turnaround is always our primary objective. Our practitioners will proactively aim for this outcome, offering a positive mind-set from the beginning of every collaboration. 

We’ll endeavour to come up with a range of options most suitable for your client, carefully selected according to their individual situation and needs. We hope to always provide your client with a choice, carefully guiding them to the most suitable solution whilst offering hope and motivation whatever route is chosen.

If you would like to discuss our services to accountants in more detail, please contact us on 0161 933 8398 and either Jon Munnery or Shaun Barton will be happy to take your call.

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Jonathan Munnery
Andrew MacKenzie
Julie Palmer
Thomas Mckay
Keith Tully
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Every day we help companies just like yours turn things around against seemingly impossible odds, regardless of your situation we can help. Find your nearest office today.