Tax Help for Companies

At Express Tax Solutions, we are experts in in providing businesses with practical and effective tax arrears advice. The process very often involves looking in detail at your business operations and devising a tailor made plan to help the business to get back on track.

Tax Payment Plans are not however suitable for all businesses. In such cases we are able assist the Directors of UK SMEs negotiate & implement company recovery plans. Express Tax Solutions are experts in utilising legislation under the Enterprise Act 2002 to assist businesses with company recovery and to help protect employment. The legislation allows for (subject to conditions) the recovery of a viable business and the potential to write-off unsecured debt including tax arrears, the legislation can also be used by a company to release it from onerous contractual agreements. This is often achieved through a pre pack administration whereby the original company is dissolved off 100% of unsecured debt & onerous contracts. Pre-pack may give the greatest probability of recovery where there are no obstructions & pricing is based upon a valuation of the assets.

Usually, a businesses or company who is facing tax arrears is in the situation as a result of underlying financial trouble and it is only by addressing these problems can future tax problems can be effectively avoided.

At Express Tax Solutions we work with you to give you the best possible tax arrears advice. We are specialists in working with you to the best possible results for you.

Tax Payment Plans Process

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.

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