Limited Company Debt Specialists
Navigating UK Companies Through Challenging Times
Evaluating every potential strategy and its outcomes
Over 15 years of specialized experience
Expert advice on managing Bounce Back Loans
Complimentary, confidential advice on business debts
Assisting more than 20,000 directors
Worried about Bounce Back Loan repayments?
If you're a Limited Company Director who has taken out a Bounce Back Loan, you may be wondering what happens if you can't repay it. Defaulting on your Bounce Back Loan can have serious consequences for you and your Ltd Company, but there are options available to help you manage your loan repayments and avoid any potential legal action.
What Happens If My Business Can't Pay HMRC?
If your Limited Company is having difficulty paying HMRC, you may be wondering what the consequences might be. Failing to pay your taxes can have serious repercussions, including legal action, penalties, and even the closure of your business. It's important to act quickly to address the issue before it escalates.
The Limited Company Debt Specialists can provide help with HMRC pressure if you're facing debt problems. Our experienced consultants can help you find a solution that works for you and your business. We offer professional business advice and support, as well as guidance on how to negotiate with HMRC.
Can I close my limited company?
Various methods of closing a UK limited company exist. If your company can't meet its financial obligations, isn't making enough money, or you want to close and retire. The most suitable route depends on your situation and reasons. The main factor which determines the most suitable option is whether the company is solvent or insolvent.
Overdrawn Directors Loan Accounts
Overdrawn Director Loan Accounts are when you, the Director, owes the company money. It could have accumulated through taking a loan or from taking too many dividends when there wasn’t enough profit.
In normal instances, it's not uncommon to have an overdrawn directors loan. However, if the company was too close to a formal process such as liquidation, then the overdrawn directors loan becomes an asset of the company and the liquidator will pursue YOU personally.
It's important you check this BEFORE entering into a formal process, otherwise you could be solving one problem but creating another one personally. Speak to us so we can asses any implication for you prior to making a decision.
Get in touch today
Speak to the team today to discuss your business needs.
Worried about Bounce Back Loan repayments?
If you're a Limited Company Director who has taken out a Bounce Back Loan, you may be wondering what happens if you can't repay it. Defaulting on your Bounce Back Loan can have serious consequences for you and your Ltd Company, but there are options available to help you manage your loan repayments and avoid any potential legal action.
What Happens If My Business Can't Pay HMRC?
If your Limited Company is having difficulty paying HMRC, you may be wondering what the consequences might be. Failing to pay your taxes can have serious repercussions, including legal action, penalties, and even the closure of your business. It's important to act quickly to address the issue before it escalates.
The Limited Company Debt Specialists can provide help with HMRC pressure if you're facing debt problems. Our experienced consultants can help you find a solution that works for you and your business. We offer professional business advice and support, as well as guidance on how to negotiate with HMRC.
Can I close my limited company?
Various methods of closing a UK limited company exist. If your company can't meet its financial obligations, isn't making enough money, or you want to close and retire. The most suitable route depends on your situation and reasons. The main factor which determines the most suitable option is whether the company is solvent or insolvent.
Overdrawn Directors Loan Accounts
Overdrawn Director Loan Accounts are when you, the Director, owes the company money. It could have accumulated through taking a loan or from taking too many dividends when there wasn’t enough profit.
In normal instances, it's not uncommon to have an overdrawn directors loan. However, if the company was too close to a formal process such as liquidation, then the overdrawn directors loan becomes an asset of the company and the liquidator will pursue YOU personally.
It's important you check this BEFORE entering into a formal process, otherwise you could be solving one problem but creating another one personally. Speak to us so we can asses any implication for you prior to making a decision.
Get in touch today
Speak to the team today to discuss your business needs.
No obligation consultation
FREE guidance for your business
Over 15 years of expertise in aiding directors with financial guidance, business recovery, and restructuring or closure.
Trusted monthly by more than 600 directors for transparent, practical advice.
Contact us today for free, no-obligation support.
Personalized, Free Guidance You Can Rely On
In uncertain times, having expert guidance tailored to your unique situation is invaluable. Our approachable team of specialists is here to support you every step of the way, offering free advice for company directors facing all types of business challenges. Whatever your issue, we’re here for YOU.
Focused on Your Needs, Not Just the Process
Company directors often face high-pressure decisions. Our team is here to prevent impulsive choices by offering strategic guidance tailored around YOU. We prioritize your specific needs, providing personalized solutions that guide you confidently through complex financial situations.
Independent Advisors – Not Insolvency Practitioners
As independent insolvency experts, we partner with a trusted network of licensed firms to give you unbiased, comprehensive advice. We’re here to explore all your options (beyond just insolvency) to ensure you receive the best outcome for your business.
Hear from Our Clients
Really helpful, talked me through everything and I feel a big weight has been lifted off my shoulders.
I was very worried about my company debts, but they immediately put my mind at rest. They were brilliant from start to finish with the whole process of closing my business.
I had business debts and received great help from the team. They guided me through the best possible ways in closing my business down without having to worry about future consequences. Would highly recommend!
Fantastic service, since Covid my business was really struggling to make a profit. I had a 50k bounce back loan and had fallen behind on corporation tax and vat bills. After speaking to my accountant he tried to strike off the company but this didn't work.
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