Jameson Smith & Co Ltd

Visit our website for more information on business debt and insolvency solutions at http://www.companydebt.com

Friday, 31 May 2013

Winding Up Petition into a Winding Up Order? Trouble Paying HMRC. What Does it Mean???

We all know how difficult running a business can be and when you experience cash-flow difficulties it can be a nightmare! Are you experiencing difficulties paying HMRC for VAT or Corporation Tax? We can help with this. A lot of directors will tend to leave communications with HMRC until the very last moment in the hope that things will just sort themselves out soon. The thing is the debt will likely not just go away unless something is done about it and it could even increase if it's not dealt with within a reasonable time frame for HMRC.

If you have run into difficulties paying your VAT or Corporation Tax bill and you can't see any logical way of being able to repay it then you are lucky enough to have stumbled across this Blog. We advise directors in situations just like these and when times are tough you want someone fighting in your corner!

If things are not addressed within a reasonable time frame you may find that HMRC start proceedings to initiate what's called a winding up petition. A winding up petition is the really a last resort by a creditor and their intentions here are to force your company into liquidation. Once the winding up petition has been heard at court it will be converted into a winding up order and at this stage you only have a matter of days before your company is forced into liquidation and the official receiver is appointed to investigate the situation further. If you have received a winding up petition or winding up order PLEASE do not ignore them! Contact someone to discuss how to approach and deal with the situation so YOU (the director) protects your personal affairs.

A good couple of websites to visit to get more information on winding up petitions and winding up orders are www.companydebt.com & www.company-liquidation.com.

Google+ Account for Mike Smith