Trusted insolvency advice for London Businesses
Seeking professional advice to help you through a period of trading challenges or personal financial difficulty?
Insolvency Online is a highly respected firm of insolvency practitioners. London-based, our team of experts specialise in corporate recovery and business rescue. Whether you are going through trading difficulties, experiencing personal financial issues, or are a shareholder or director looking to close down a solvent company and release its funds tax efficiently, Insolvency Online is on hand with the professional support you need, backed by a solution-finding, personalised approach.
The advice you need, when you need it, from the specialists in insolvency advice London businesses recommend
It is not uncommon for companies in London to face trading challenges due to the likes of bad debt, the loss of major clients, or nationwide economic difficulties. Individuals can fall upon difficulties too, finding it hard to pay off debt, despite their best efforts.
If this sounds familiar, and you are seeking a solution, Insolvency Online can help. We believe that there is always a way to navigate out of what can seem a never-ending maze, regardless of the situation.
Whether it’s financial restructuring, business recovery or a strategy that protects the individual or business whilst attempts are made to turn things around, you can rely on our team of business recovery specialists and licensed insolvency practitioners in London and for the personalised guidance you need to move forward positively.
Business recovery strategies, for a positive outcome
Insolvency Online are specialists in business reconstructions and rescue solutions. We formulate innovative, constructive strategies with a view to protecting a business from further debt, and ultimately turning it around.
Strategies include Administration and Pre-Pack Administration, both aimed at providing statutory protection from creditors, creating breathing space to overcome trading difficulties, or a Company Voluntary Arrangement (CVA), which again creates breathing space, this time by forming an agreement with creditors.
Helping you navigate your way out of personal debt
An Individual Voluntary Arrangement (IVA) is a formal insolvency process. Under an IVA, individuals in debt enter into a legally binding agreement with their creditors.
As Licensed Insolvency Practitioners, London businesses can rely on Insolvency Online to draw up the necessary formal proposal for creditors to consider. This is a fairly in-depth process that calls for realistic profit and loss and cash-flow forecasting, and it is essential that over 75% of the unsecured creditors approve it, so it needs to be prepared by experienced experts.
Once in place, the agreement will prevent creditors from taking alternative action to recover their debts, and you will be able to carry on running your business, if you have one, whilst you concentrate on getting back on track financially.
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Solvent company in London looking to release capital? Insolvency Online can help.
Financial difficulty is not the only reason businesses use an insolvency service. London-based shareholders of solvent companies looking to wind up the business and extract funds tax efficiently will also need to engage the services of an insolvency administrator.
Business Asset Disposal Relief (BADR), formerly known as Entrepreneur’s Relief, is a tool that reduces the tax liability on the disposal of a business or interest in it. BADR can bring down the rate of Capital Gains Tax on qualifying capital gains from the highest rate of 20%, to just 10%.
If you are looking to benefit from BADR on the winding up of your London company, you’ll need to take it through a solvent liquidation process known as a Members Voluntary Liquidation (MVA). This can only be handled by licensed insolvency practitioners, acting as the company’s liquidator. Insolvency Online is qualified to act for London businesses in this respect, and our in-depth expertise generally sees shareholders receive their cash distribution swiftly.
How can Insolvency Online help?
Insolvency Online is a trusted firm of corporate recovery specialists and insolvency practitioners, London based and licensed by the ICAEW.
We are here to provide professional, personalised guidance and can help in a variety of ways.
Whether you are seeking tailored advice on finding your way out of personal or corporate financial difficulty, or you wish to wind down your solvent business and extract funds tax-efficiently, our mission is to find you the right solution for your needs, so that your best interests always remain intact.
Our business recovery and insolvency services for London businesses and individuals
Insolvency Online offers a solution-finding approach to business rescue, personal financial difficulties, financial restructuring and recovery matters London wide, as well as providing services for solvent business owners seeking to tax-efficiently realise capital on the disposal of their companies. If we can assist you in any way, please do not hesitate to get in touch.
Frequently Asked Questions
If the underlying business of a company is sound, but it is technical insolvent either on a balance sheet or cash flow basis, it can in many cases be possible to restructure the company so that the core business is protected.
Such protection will usually come courtesy of a legal moratorium against creditor enforcement action. This involves placing the company into a safe position where historical losses are prevented from dragging the business into further difficulty. This could be via Administration or Pre-Pack Administration, or by seeking creditor and shareholder approval for a Company Voluntary Arrangement (CVA).
A ‘time to pay’ arrangement can either be a Company Voluntary Arrangement (CVA) or an Individual Voluntary Arrangement (IVA). Both are designed to create breathing space for companies or individuals who are in debt, allowing them to affordably pay off what they owe over time, whilst they focus on turning the corner. Such arrangements can be effective strategies when it comes to avoiding personal bankruptcy or insolvency London wide.
We offer practical, tailored insolvency advice London wide, as well as professional guidance on business recovery, rescue and restructuring. Our aim is to formulate a route back to sustainable profitability, using legal and financial procedures designed to protect businesses from further creditor action as they work hard to get things back on track.
We are also licensed to act as official appointed liquidator in situations where there is no other option but to enter a Creditors’ Voluntary Liquidation.