Corporate Recovery and Business Recovery

Is my business or company running me, or am I running it?

Do you have to constantly worry about your bank balance every day?

Are your taxes in arrears? Income Tax? Corporation Tax? Vat? PAYE?

Are any of your tax returns late, or are you always late?

Is it a big battle to meet your wages payroll each payday?

Are you overtrading?

Have you lost good customers due to the present economic crisis?

Have you had difficulty obtaining bank facilities?

Have you a Marketing Plan to replace and find new customers?

Is your bank now trying to reduce your banking facilities or working capital?

Are you working day and night and sometimes meeting yourself coming back?

Do you fully understand your Companies House Obligations as a Director?

Are you paying late fines and penalties for trivial forms and submissions being late?

Are you valuing your own input to the business and drawing your salary?

Is everyone else being paid before yourself and you end up with the bare minimum?

Have you loaned money to your company, and face the prospect of it being lost?

Are your daily bookkeeping records up to date and reliable?

Do you have a computerised accounting system that gives you ultimate value?

Do you expect accurate figures from your computerised system just from data entry?

Do you understand your financial position at any given point in time or do you have to wait for many months after your accountant tells you what happened in the past?

If you made a mistake in the past would you avoid it if you knew about it in time?

Or would you ignore it and make the same mistake again?

Do you have a long list of debtors (people who owe you money) that you cannot collect?

What is your policy on debtor’s collections?

Do you use your business or company bank account as if it were your personal account?

Is your business having a detrimental effect on your personal and family life?

How close is your business or company to hitting that famous “stone wall”?

Or can you answer this question?

Do you think an independent review of all the above matters might help you to understand better your position now?

Would you believe there are many other ways of achieving your ultimate goal that you may not have thought of yet or being told about?

Can you imagine what your life might be like without all of the above problems if they refer to you?

What are the implications if your company goes into liquidation?

Do you know the consequences of a liquidation from the following point of view:-

Personal Guarantees

Fraudulent Preference.

Fraudulent Trading

Starting business again.

Director disqualification

Costs of liquidation

Can you imagine the trauma and the stress of all of this?