Tax Help for Companies

Step 1 – The financial background of the company

It is essential to analyse and understand the underlying issues the business is being faced with that has caused it to become in tax arrears. Having identified the root cause, we then implement measures that will effectively resolve these issues.

Step 2 – Viability of future business operations

The next phase in tax arrears advice should be to ascertain whether or not there is a viable future for the business in question to continue trading. This involves looking at the current financial situation of the company and its future trading prospects.

Step 3 – Implement business turnaround plans

Express Tax Solutions will then help you to put in place a realistic and effective business turnaround plan to enable you to continue trading while meeting your historical and future tax liability.

Step 4 – Establish a realistic timescale

Express Tax Solutions will then liaise closely with HMRC to put in place a realistic timescale for the agreed repayment of tax arrears.

Step 5 – Reporting and monitoring

We prepare comprehensive reports detailing the activities that need to be undertaken and can monitor this until the effective repayment of outstanding tax arrears.

Pre Pack Administration Process

1. Viability screening

We provide a free telephone assessment of your financial position. From this we can assess the merits and feasibility of pre-pack administration.

2. Valuation estimate

We will visit you to conduct an estimate and valuation of the company assets and undertaking. We will use this to assess the improvement that would be made to your financial position via a pre-pack, CVA or Liquidation (as required).

3. Personal guarantees

We will your personal exposure and will (as required) negotiate with your commercial lenders to set up acceptable repayment terms for any personal guarantees you have issued.

4. Negotiation

We will be instrumental in negotiating an agreement on your behalf with a leading insolvency practitioner. The Insolvency Practitioner we appoint shall be approved by banks and other key stakeholders such as debenture holders and financial brokers.

5. No commitment

Until the time that you instruct us to act on your behalf there will be no costs or obligations expected or placed upon you. It is your entitlement to end negotiations at any point. We promise to make clear our fees before any commitment is required from you.

6. Formation of a phoenix company

If you decide to sign-up for pre-packaged administration we support you through the process of transferring your company to a new phoenix company.

So let us guide you through your insolvency matter into a new viable business venture.

CVA Process

An overview of a CVA Procedure

We along with the directors of a company will put forward a proposal for a CVA. If however the company is subjected to an Administration Order or a Liquidator has been appointed then they may also seek the director’s agreement for a CVA.

The proposals will then be circulated to court, creditors and the shareholders. The purpose of which will be to arrange for a creditors and shareholders meeting to take place usually 3-4 weeks after the date of circulating the proposals.

Once the proposals are approved, it provides for a stay of execution from creditors, this will enable the company to continue trading. It is normal for a percentage of the company’s post CVA to be paid to the Supervisor of the CVA. This shall continue for the period agreed within the proposals.

A CVA is a very flexible course of action, it can be utilised to avoid the higher costs of liquidation and can on occasions be combined with the introduction of one of the refinancing products contained within this web site.

The CVA is subject to agreement of 75% in value of those creditors entitled to and who vote either in person or by proxy at the meeting.