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We have been licensed insolvency practitioners since 1990. You get plain English advice, a free first conversation and no obligation.
When your business has reached the point where it can no longer trade, you need to act as soon as possible. The majority of people we see are company directors or people in a similar position within an organisation facing insolvency. The same is true about your personal finances (this is bankruptcy).
Find out more about what insolvency and bankruptcy are what the difference is and mean to you and your business.
This is when your company is still solvent, but you (and your fellow directors) decide it is time to call it a day and retire or move on to the next stage of your lives. With an MVL, you will release the assets and use these funds to pay off the creditors before returning the remaining funds to the shareholders.
Specialist advice for charities, community interest companies and not-for-profit organisations.
Understand governance responsibilities and explore available restructuring options.
When things are difficult financially, and you find yourself in a position where you may need to close your business or face personal bankruptcy, you need clear, practical help
There is no jargon and no legalese here, just help and practical advice based on our decades of experience.
If you are facing financial pressure in your business, it is important to understand the problems and take action as soon as possible. Business insolvency and personal finances are very different things, so it is important to know the difference.
Insolvency is most commonly about when a business cannot pay debts as they fall due. This situation is why a majority of our clients come to us for help. Bankruptcy is a formal insolvency process used for individuals who cannot meet their financial obligations. While we can help with this, it is far less common than business client issues.
KEY POINT - A limited company does not go bankrupt but this is a common misunderstanding of terms. If a company is insolvent, it may need to enter a formal process such as a Creditors’ Voluntary Liquidation (CVL), Administration or a Company Voluntary Arrangement (CVA).
If your company is under pressure from creditors, HMRC, cash flow problems or mounting debt, start here. These pages explain your options and what practical steps to take next.If your company is under pressure from creditors, HMRC, cash flow problems or mounting debt, start here. These pages explain your options and what practical steps to take next.
Worried about personal bankruptcy?If your debts are personal rather than linked to a limited company, this section explains bankruptcy and other options that may be available to you. You may want to consider discussing things with one of the many charitable organisations that will help with personal debt. We can however help you with:
We are here to offer clear, practical advice in plain English to help you understand your position and decide what to do next. If you are having personal debt issues we suggest you look around our information and chat to one of the support services first. If bankruptcy is a potential outcome, then we are here to help.
What that usually means in real terms is that the directors go through the process of closing a solvent business that is no longer required. It is often used by directors who are retiring, stepping away from business ownership or moving on to a new chapter in life. To qualify, the company must be able to pay all its debts, including interest, within 12 months.
A licensed insolvency practitioner manages the process.
An MVL can provide an orderly and potentially tax-efficient exit, although the most suitable approach will depend on the company’s circumstances. It is important that directors and the shareholders take professional tax advice and understand the whole process.
MVLs are a good solution for many people looking to retire, so we have a section here with dedicated advice and guidance.
Dealing with insolvency is often very complex and requires specialist knowledge.
They could be a charitable company, CIO, CIC or unincorporated association, or another organisation. There are also questions to be resolved around whether trustees or members could have personal liability.
Restricted funds, charitable assets, grants and obligations to beneficiaries must also be considered.
Trustees and directors have duties to protect creditors when insolvency becomes a risk, while also considering the organisation’s charitable or community purpose. This can make decisions about restructuring, transferring services or closing more sensitive than in a conventional business. Taking specialist advice early is essential because the right approach will depend on both the organisation’s finances and its legal structure.
These help pages were designed to provide clear, practical information for company directors, business owners, trustees and individuals facing financial uncertainty.
They explain common insolvency procedures, warning signs and key responsibilities in straightforward language, helping you understand what the different options may mean for you and your organisation.
You can explore guidance relevant to limited companies, charities and other third-sector organisations, as well as specific issues such as creditor pressure, HMRC arrears and personal guarantees. However, these are general guidance, and it can only help clarify things for you. They cannot take into account your personal circumstances.
We suggest you take a look through the information that relates to you and, if that seems to point to the need to take action, contact us and let's talk things through.
If you arrived because you are a director looking for information on Insolvency or an individual with personal bankruptcy concerns, we know from decades of experience that you have a lot on your mind right now. Questions such as “Is my business insolvent?” are probably keeping you awake at night, but the chances are that the research you are doing is just returning a lot of technical jargon.
Facing potential Insolvency is a worrying and difficult time. We think what you really want right now is:
The first thing to do is look around the information we have provided here. It will give you the answers you want in clear English. If anything makes you think you need help, (or if you came here knowing you are facing insolvency) contact us right away. There will always be a button to press to arrange a free first discussion where we can decide what to do next.
These are difficult times, and right now you are not alone if you are looking at insolvency. If you are the director of a limited company the best thing to do is visit our sub-site ‘help for directors’ you will find a lot of the information you need and also how to contact us if you need our help.
While personal bankruptcy is perhaps less common than company insolvency, it is often more difficult to deal with emotionally. Worries over losing your home or how difficult things will be for your family are probably uppermost in your mind. The first piece of advice is to act now. Look at our personal bankruptcy section and see where you stand. If you think you need help, then we can start to look at options.
Do you owe money to HMRC? Are you concerned about paying them or already owe them money? If the answer to these questions is ‘yes’ or even ‘maybe’, our pages on ‘HMRC arrears’ will give you clear information on what that could mean.
We have a section dedicated to solvent liquidation that will clarify where to start and what you need to do if you are closing your business to retire or move on. A good place to start would be our downloadable guide which explains the process of how to release the money in your business to the shareholders so you can move on in life.
We’ve been working in the insolvency and recovery sector as licenced insolvency practitioners in and around Leicester, Warwickshire, Coventry, and Northampton, since 1990. Just as importantly though, we understand people. Whatever we are working towards with you, we recognise that you are also dealing with the distress and unhappiness that accompanies a financial crisis - whether business or personal we understand and we want to help.
You don’t need to be molly-coddled; you need honest and actionable support and advice. But that doesn’t mean we don’t have empathy for what you are going through. Part of our commitment to you will be making sure that all processes are carried out as smoothly and quickly as possible. We will always look to make all this happen with the minimum of stress to you and your colleagues, partners, or employees.
Read more about our Three Pillars of Principle here to see what underpins everything we do for you.
Clear, straightforward guidance and support, using our skills and experience to point you down the right path for you.
Supporting you with empathy and clarity through/insolvency-liquidation-recovery-support-for-partnerships difficult personal financial circumstances.
Supporting you and your partners through the tough decisions that come with insolvency.
Using our years of experience to advise you on issues concerning Restructuring, Refinancing, Debt Collection and Exit Strategies.
When it is time to call it a day and retire, or perhaps just release the cash in a solvent business to move on in life, we can support you in getting the best result from an MVL.