A firm based in Lancashire, specialising in advisory services relating to mis-sold financial products, approached Real Business Rescue due to mounting pressures from HMRC arrears.
The co-directors were both highly skilled in their profession but would be the first to admit they weren't particularly adept at keeping organised company records and let their corporation tax duties escalate out of control.
The company had been trading profitably for two years but, in a challenging and competitive marketplace, it soon started nosediving and cash flow was quickly dwindling with large liabilities to meet.
We quickly analysed the situation, helping the directors to get their documents organised, and ascertained that a CVL was required in order to not worsen the position of existing creditors.
We were appointed as liquidators and managed to secure satisfactory dividends for creditors and help alleviate the pressure from some very distressed directors.
20th September 2017 Confidence among the UK’s small businesses has slumped to the lowest levels recorded since the immediate aftermath of the 2016 Brexit referendum.
13th September 2017 The public relations (PR) and communications company Bell Pottinger has fallen into administration in the UK following its involvement in a highly controversial campaign for a billionaire family in So
5th September 2017 At least two players for Manchester United are reportedly being probed by HMRC as part of a wider investigation into tax planning arrangements common within the football industry.
4th September 2017 Confidence among British companies slid back during August to a level not seen for 12 months, according to a recent survey.
30th August 2017 Big businesses from across the UK are estimated to have potentially underpaid their taxes to a value close to £25 billion.
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