full
image
#666666
http://www.businessdebtcentre.com/wp-content/themes/smartbox/
http://www.businessdebtcentre.com/
#26ade4
style1

Winding up Petition

 

Winding Up is often a term that is used when referring to either closing a business down, or a winding up petition. Both of these examples are very different in reality and should not be confused with each other.

 

A winding up petition is a process that is taken, usually by a creditor against a limited company, with the intention of forcefully closing the business via compulsory liquidation. The aim here is normally to get a better return for the creditors where previous attempts have failed, but in some cases a winding up petition can be issued against a limited company to make a point that standards must be met. If your limited company has received a winding up petition recently and you are wondering what to do about it then you should certainly seek professional advice immediately as this is a last resort situation and an attempt by creditors to forcefully wind the business up. We can advise on how best to approach a winding up petition, so get in touch today if you are concerned about what to do.

 

Winding up a company is a term that directors often use when referring to closing their business down. Another similar term is winding down a business and they both are usually used in the same context by directors. If you are considering closing your limited company and you don’t know where to turn then please feel free to get in touch and we will be happy to give you free advice and your options straight away, with no obligation.


Company Rescue Tool
  • Total Debt*Estimated Amount of Debt
    None
    Under £10K
    £10K - £50K
    £50K - £100K
    £100K +
    Im Not Sure

    0

  • Company*Company Name

    1

  • Your Goal*Desired Outcome

    2

  • Name*Your Name

    3

  • Phone*Contact Number

    4

  • Email*Your Email Address

    5

  • 6

 

 

Start Taking Control of Your Business Debts
Before They Take Control of You!

 

 

Whether you have received a winding up petition, or you wish to wind your limited company down, we can help you. So many times we hear the phrase “I wish I had contacted you sooner”. Why follow-suit? Get in touch to see how we can help you today.                   

 

Get Started

 


Company Rescue Tool
  • Total Debt*Estimated Amount of Debt
    None
    Under £10K
    £10K - £50K
    £50K - £100K
    £100K +
    Im Not Sure

    0

  • Company*Company Name

    1

  • Your Goal*Desired Outcome

    2

  • Name*Your Name

    3

  • Phone*Contact Number

    4

  • Email*Your Email Address

    5

  • 6

What We Offer

 

  • Winding up petition

    Get free winding up petition advice today! We provide you with free advice on how to address a winding up petition and we can guide you throughout the entire process.

  • Winding up a company

    Are you looking to close your company? We can certainly help. Get in touch to see how we can help close your limited company and help you address those business debts.

  • Free directors’ debt advice

    We help company directors on a daily basis from all over the UK so we have a very good understanding of what you may be going through right now. Give us a call to help reduce the stress and fear of business debt.

  • HMRC Debt Help

    Can’t pay Vat, Corporation Tax, or PAYE? We can provide you with free advice on how to address this type of situation. Get in touch to see how we can help.

  •  

     

Testimonials

 

SEE WHAT OUR CLIENTS SAY!

" We had problems with HMRC and a major creditor threatening to take legal action against the company. We contacted you guys and you have helped guide us through the situation and finally resolve the matter…. Great help and advice and support. Helped my sleep to no end!!!!!! "

Julian R, Technical Architect

" After several years of recession we fell behind with our VAT payments, the Business Debt Centre negotiated with HMRC on our behalf and aided in a full restructure of our business. THANK YOU!. "

Jack E, Tattoo artist

Winding up Petition Help

Have you received a winding up petition recently from HMRC, or another creditor? Are you wondering who to trust or who you can speak to and find out how to address this situation, or wondering whether the winding up petition can be stopped? We can help answer all of these questions and more. We help UK company directors every day with winding up petitions and can provide free advice on how to counter this court process.

 

You will need to act quickly in order to challenge the winding up petition and you will require specialist, confidential advice immediately to help resolve the situation.

 

If you are troubled by what to do and how to act when addressing a winding up petition then please get in touch as we help directors every day with situations just like this one.

Winding up Order, Too Late?

If you have received a winding up order and wish to have it stopped you may be leaving a tad late, however, this is something that we may be able to help you with if you act very quickly. A winding up order has already been petitioned to the court with a previous winding up petition that will have been sent to your company address so you should be familiar with the information on the amount of debt at this stage.

 

Contact us immediately if you wish to try and stop a winding up order. We may be able to add value to this situation and at the very least, provide you with your options and free advice.

Statutory Demands

If you have received a statutory demand you should be aware that this is a threat, usually initiated by a creditor. The intention of a statutory demand is to provide 21 days to pay a debt in full. The statutory demand is normally used as a warning before applying more serious processes such as a winding up petition. If you ignore the statutory demand it could get worse as the creditor who sent it may well have the intention of forcefully closing your business with the use of a winding up petition if the debt is not recovered.

 

If you have received a statutory demand recently please do not ignore it. The statutory demand will need to be addressed correctly and carefully and we can certainly help you with this.

Wrongful Trading

Many directors are concerned about being accused of wrongful trading, but what is wrongful trading? It is important not to confuse wrongful trading with fraudulent trading.

 

Wrongful trading is where a director may continue to run the limited company in the normal way despite the fact that the company is insolvent, but with no malicious intent or agenda. This is what is known as wrongful trading. The director has normally made the wrong decisions through lack of knowledge.

 

Fraudulent trading is quite different, this is where a director continues to trade, but also has the intent to defraud the company or its creditors, usually with no intention of repaying debts. This is what is referred to as fraudulent trading.

Personal Guarantees

If your business is facing insolvency and you are looking to close your company, or your company is being forced into liquidation by a creditor and there is a personal guarantee in place on a debt, you may need to get advice on how to address this problem. As soon as the limited company enters liquidation the personal guarantee will take effect and you will be expected to fund the debt personally.

 

As a director who is faced with business insolvency you will already have enough on your plate without having to think about negotiating with creditors over a personal guarantee. We help to remove the stress of personal guarantees as we communicate with creditors on a daily basis, often addressing personal guarantees.

 

Get in touch to see how we can help you with any personal guarantee problems.

Winding up Petition Help

Have you received a winding up petition recently from HMRC, or another creditor? Are you wondering who to trust or who you can speak to and find out how to address this situation, or wondering whether the winding up petition can be stopped? We can help answer all of these questions and more. We help UK company directors every day with winding up petitions and can provide free advice on how to counter this court process.

 

You will need to act quickly in order to challenge the winding up petition and you will require specialist, confidential advice immediately to help resolve the situation.

 

If you are troubled by what to do and how to act when addressing a winding up petition then please get in touch as we help directors every day with situations just like this one.

Winding up Order, Too Late?

If you have received a winding up order and wish to have it stopped you may be leaving a tad late, however, this is something that we may be able to help you with if you act very quickly. A winding up order has already been petitioned to the court with a previous winding up petition that will have been sent to your company address so you should be familiar with the information on the amount of debt at this stage.

 

Contact us immediately if you wish to try and stop a winding up order. We may be able to add value to this situation and at the very least, provide you with your options and free advice.

Statutory Demands

If you have received a statutory demand you should be aware that this is a threat, usually initiated by a creditor. The intention of a statutory demand is to provide 21 days to pay a debt in full. The statutory demand is normally used as a warning before applying more serious processes such as a winding up petition. If you ignore the statutory demand it could get worse as the creditor who sent it may well have the intention of forcefully closing your business with the use of a winding up petition if the debt is not recovered.

 

If you have received a statutory demand recently please do not ignore it. The statutory demand will need to be addressed correctly and carefully and we can certainly help you with this.

Wrongful Trading

Many directors are concerned about being accused of wrongful trading, but what is wrongful trading? It is important not to confuse wrongful trading with fraudulent trading.

 

Wrongful trading is where a director may continue to run the limited company in the normal way despite the fact that the company is insolvent, but with no malicious intent or agenda. This is what is known as wrongful trading. The director has normally made the wrong decisions through lack of knowledge.

 

Fraudulent trading is quite different, this is where a director continues to trade, but also has the intent to defraud the company or its creditors, usually with no intention of repaying debts. This is what is referred to as fraudulent trading.

Personal Guarantees

If your business is facing insolvency and you are looking to close your company, or your company is being forced into liquidation by a creditor and there is a personal guarantee in place on a debt, you may need to get advice on how to address this problem. As soon as the limited company enters liquidation the personal guarantee will take effect and you will be expected to fund the debt personally.

 

As a director who is faced with business insolvency you will already have enough on your plate without having to think about negotiating with creditors over a personal guarantee. We help to remove the stress of personal guarantees as we communicate with creditors on a daily basis, often addressing personal guarantees.

 

Get in touch to see how we can help you with any personal guarantee problems.

 

Take Control of Your Business Debts

 

We will help remove the stress that may be hindering you and we will set out a plan to get you and/or your business back on track with our specialist UK business advisors, who have a wealth of experience and knowledge when addressing business debt problems. Pick up the phone, or send us an email to see how we can help you today.

Get Started

 

Accordion

What is a winding up petition?

A winding up petition is a court process that is usually initiated by a creditor that may have lost faith in the business relationship with your limited company. The intention of the winding up petition is to forcefully close your business via the court petition. The amount that you owe only has to be £750 or more for a creditor to apply for a winding up petition against your company. The debt has to be proven in court and the amount can be challenged, but you will need to act quickly and you cannot simply ignore the winding up petition and hope that it will go away; it will not.

How Should I respond if I Have Received a Winding up Petition?

It is very important that you continue to manage your limited company properly and do not neglect your normal duties as a director. If you have received a winding up petition your duties become even more important than in normal circumstances as the company is likely insolvent and one or several creditors clearly feel that the relationship has broken down. A winding up petition really is the last resort for a creditor to recover debts so keep this in mind when making decisions. You will need to act quickly and decisively if you wish to challenge the winding up petition and you should seek professional advice immediately if you are unsure of what to do. We can provide you with all the knowledge that is necessary to address this situation.

What Should I Do Now About the Winding up Petition?

It is critically important to your business that you act quickly and decisively at this stage if you have just received a winding up petition. If left, the petition will progress to a winding up order and at this stage your limited company will be forcefully closed via the court. In order to counter this process please get in touch as soon as you can and we will help guide you throughout the next steps. You will benefit from free advice on winding up petitions and well placed solutions to address the petition if you contact us soon enough. There is a limited amount of time before a winding up petition is progressed to a winding up order so act quickly.

I Want to Wind up My Limited Company. Can You Help?

Yes. Winding up a company can be a relatively quick process, dependent on the situation. If you wish to close your company down voluntarily and you are wondering where to start then you are in the right place. We can help you wind up your business with the use of fully licensed insolvency practitioners and we can also advise you on how best to address any business debts, personal guarantees, or other personal risks that may be in place currently, whilst working to protect you throughout this period.

Will My Personal Credit Score be Affected?

With a limited company your business and personal debts are usually not joined, with the exception of a personal guarantee, or charge on personal property and similar agreements. This is also very true for your personal credit score. The limited company’s credit and your personal credit are separate and should not be confused.

 

 


Company Rescue Tool
  • Total Debt*Estimated Amount of Debt
    None
    Under £10K
    £10K - £50K
    £50K - £100K
    £100K +
    Im Not Sure

    0

  • Company*Company Name

    1

  • Your Goal*Desired Outcome

    2

  • Name*Your Name

    3

  • Phone*Contact Number

    4

  • Email*Your Email Address

    5

  • 6

paged
Loading posts...
link_magnifier
#6E787E
on
fadeInUpBig
loading
off