Overview
This event planning company had been providing a service for 11 years, but had, over time, found themselves falling behind with their HMRC bills.
When we met with the director, she was worried and didn’t know which way to turn. She had arranged payment agreements with the HMRC several times but failed to clear the debt.
We supported her and helped simplify her situation breaking down the options. With her health and wellbeing in mind, she took the decision to close the business.
About the company
Incorporated for 11 years, the director of this company gave her all to what she loved – event planning. She was heavily involved in the day-to-day and had her husband on board as an employee.
The challenge
When we met the directors of this company, the strain was apparent. She had tried to clear the company debt with the HMRC with payment agreements but could not keep up. As a result, she was presented with aggressive ultimatums including bailiff services visiting her home address.
She knew her only answer was to liquidate the company but funding the liquidation had become the hurdle.
“She was unsure where to turn.”
– Rick, Case Manager
How we helped
Although the director was not on the company payroll, her husband was. This meant he was entitled to a redundancy payment, and with 11 years’ service to the company, we found the payment was able to fund the liquidation process.
With a plan in place, we initiated the liquidation process and helped the director close the door on her business and her worries.
The result
The weight had been lifted and the couple were left looking forward to their life ahead.
“We enabled the couple to move on with their new lives.”
– Rick, Case Manager
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