Warning of Winding Up Action. Please read this letter – it can help the company avoid being wound up. The company’s debt, as detailed on the attached statement is £X. Interest continues to be charged until payment is made. Despite reminders you have not paid.
If you do not take action within seven working days of the date of this letter, we will wind up the company for this debt. This will increase the amount it has to pay. The company’s bank accounts may also be frozen and its assets put at risk.
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This is the inevitable letter from HMRC to declare that your company is insolvent and should cease to exist as it is clearly unable to meet its liabilities.
They have given you seven days to pay the debt or they will wind up the company – i.e. compulsory liquidation. This is just about as serious as it gets and you should seek immediate advice from an insolvency practitioner at your nearest Real Business Rescue office who can provide you with a free consultation.
There is always the option of trying to negotiate with HMRC; something we can assist with and have vast experience doing. It is often a last resort for them to resort to court action but they will do it if a suitable repayment method or plan is not agreed. If you make any arrangement with HMRC and break it they won’t waste time taking action.
If you believe your business is still profitable, there might be a future in store for it but you must speak to an IP and HMRC right now – time is of the essence.
21st June 2019
The government has announced plans that should soon see large companies being fined for failing to pay their smaller scale suppliers in a timely fashion.Read More
20th June 2019
The bathroom retail business Bathstore is facing the prospect of entering administration and potentially putting around 700 jobs in jeopardy.Read More