Expertise

We are here to help and support your business through the escalating coronavirus outbreak. Providing expert assistance with managing cash flow, negotiating a Time to Pay arrangement with HMRC, through to sourcing emergency finance.

n response to the coronavirus pandemic, the government introduced a range of initiatives to help businesses weather the storm and cushion the economic shock. One of the most successful and widely used measures has been the Coronavirus Job Retention Scheme (CJRS) which has been used in some form or other by two thirds of businesses since it was introduced in March 2020.
A series of extensions means this scheme will now run until the end of March 2021.
As part of the scheme, employers who have been hit by a drop in trade due to coronavirus related business interruption, can furlough those staff who for whom there is not adequate work. The government will cover 80% of their salary up to a monthly cap of £2,500. Employers can choose to top this up to 100% if they wish.

When you seek assistance from a licensed insolvency practitioner, their first objective will be to rescue your business and return it to profitability. This can be effected in a number of ways, depending on your company’s individual circumstances and the level of debt owed.
You may have heard the terms ‘business rescue’ and ‘business recovery’ - the processes associated with these terms include sourcing new funding, restructuring a company’s affairs including assets and debts, and entering formal insolvency solutions such as a Company Voluntary Arrangement or company administration.
Once you have recognised that a problem exists and that the company is in danger of entering insolvency, you should seek assistance from a licensed insolvency practitioner (IP). They will be able to assess your situation, and guide you towards the best options.