Written by: Keith Tully
Date: Tuesday 18th June, 2013
Many UK companies struggle with paying corporation tax every year, the above examples are those that have chosen to 'legally' avoid it. More often than not it is usually HMRC related arrears that affects a company's cash flow the most and can in many cases signify the end of a company if they become unmanageable. If your company has no funds to pay creditors or HMRC for corporation Tax/VAT or PAYE and you feel that you need a business rescue solution to resolve such issues becuase the company is viable then you may want to consider a CVA arrangement or a Pre Pack Administration deal for continuity of your business interests. Both of which has laws and regulations you have to adhere to that will involve your shareholders and creditors.
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23rd October 2017 The British Chambers of Commerce (BCC) has called on the government to freeze business rates in order to provide a boost to the competitiveness and productivity of UK companies.
12th October 2017 The impact of Brexit and the process of Britain departing from the European Union is likely to push up rates of insolvency among businesses throughout the UK.
11th October 2017 Financial losses and persistent problems with cash flows has led the civil engineering business Owen Pugh to enter administration.
2nd October 2017 Monarch Airlines has become insolvent and ceased trading as a result of “mounting cost pressures and increasingly competitive market conditions,” administrators have confirmed.
29th September 2017 The Bank of England governor Mark Carney has given a clear indication that he expects the base rate of interest in the UK to rise in the near future.
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