Licensed Insolvency Practitioners

A deeper dive into hbgadvisory.co.uk

Common questions asked about www.hbgadvisory.co.uk

What services does HBG Advisory offer for businesses facing financial difficulties?

HBG Advisory provides a range of services for businesses experiencing financial challenges, including initial advice and support on managing debts, arranging time-to-pay agreements with HMRC, and navigating insolvency processes. They also offer guidance on the implications of winding-up petitions, bailiff actions, and HMRC enforcement notices. Their team can assist with understanding and utilizing the Bounce Back Loan Scheme, as well as offering strategies to reduce the risk of liquidation and manage creditor meetings effectively.

How can HBG Advisory help with HMRC-related issues?

HBG Advisory assists businesses in negotiating with HMRC to arrange time-to-pay agreements and provides advice on the responsibilities of directors regarding unpaid taxes. They help clients understand the potential consequences of HMRC actions, such as objections to company striking off, enforcement notices, and the pursuit of dissolved companies. Their expertise ensures that businesses are well-prepared to handle any disputes or negotiations with HMRC, minimizing the risk of severe financial repercussions.

What is a CVA and how can it benefit a struggling company?

A Company Voluntary Arrangement (CVA) is a legally binding agreement between a company and its creditors to repay debts over a specified period. HBG Advisory guides directors through the CVA process, highlighting its advantages, such as allowing the company to continue trading while restructuring its debts. This can provide a lifeline for businesses by preventing immediate liquidation and offering a chance to improve financial stability, ultimately safeguarding jobs and business operations.

What should directors know about their responsibilities during financial distress?

Directors have a legal duty to act in the best interest of their company, especially during financial distress. HBG Advisory educates directors on their responsibilities, including the importance of maintaining accurate financial records, avoiding wrongful trading, and understanding personal liabilities related to unpaid taxes and debts. By seeking professional advice early, directors can make informed decisions to protect themselves and their company, potentially avoiding severe legal and financial consequences.

How does liquidation affect employees and what support is available?

Liquidation can significantly impact employees, often resulting in job losses. HBG Advisory provides guidance on the rights of employees during this process, including entitlements to redundancy pay and other compensations. They can help businesses communicate effectively with staff and navigate the legal requirements associated with employee terminations. By offering support and clear information, HBG Advisory aims to ensure that both employers and employees are treated fairly during the challenging times of business liquidation.

Some reasons to choose hbgadvisory.co.uk

Free Initial Advice and Support

The company offers free initial advice and support, providing potential clients with an opportunity to understand their options without any financial commitment. This service is available to help individuals and businesses navigate complex financial and legal situations.

Extended Availability

With customer service available from 8 AM to 8 PM, 7 days a week, the company ensures that clients can access support at their convenience. This extended availability demonstrates the company's commitment to being accessible and responsive to client needs.

Expertise in HMRC Matters

The company provides specialized assistance in dealing with HMRC-related issues, such as arranging time to pay agreements and understanding directors' responsibilities for unpaid taxes. Their expertise in this area helps clients effectively manage their tax obligations and navigate potential challenges with HMRC.

Comprehensive Guidance on Liquidation and Insolvency

Clients can benefit from the company's comprehensive guidance on liquidation and insolvency, including the impact on employees and how to reduce the risk of liquidation. This information is crucial for businesses looking to make informed decisions during financial difficulties.

Support with Bounce Back Loans

The company offers support for businesses dealing with Bounce Back Loans, including advice on loan use, guarantees, and issues related to liquidation. This assistance is particularly valuable for businesses seeking to understand their obligations and options regarding these government-backed loans.