We'll try to help you back up.
No matter how well you run your business, there’s always a chance of something going wrong.
It’s often something completely beyond your control: a cashflow problem, an unpaid invoice, a contract that’s fallen through. Individuals are just as vulnerable: sickness, redundancy or plain bad luck can suddenly make your life very difficult.
You can’t take back what’s happened, but you can choose what you do next, and there may be more options than you think.
Bishop Fleming is one of the top 20 business recovery and insolvency firms in the UK. We’re highly qualified and experienced, and we can provide the guidance and support that you’ll need to make your way through the maze of insolvency.
The quicker you act, the more chance you’ve got of being able to save your business or personal affairs. We’re happy to meet you for a free, no obligation discussion to see how we can help you do that.
Posted by Jack Callow on June 21, 2018
If you are winding up your solvent company and it contains an overdrawn director’s loan account that you are not repaying, HM Revenue & Customs (HMRC) may tax its distribution as income rather than capital. […]