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To help us provide a quote, we ask for a few estimates on your current company finances.

Don’t panic if you don’t have the numbers to hand; just give us your best estimates and our
team of financial experts will be able to help you gather the exact figures in due course.

Number of Creditors?


20


Amounts Owed?
Estimate how much you owe these 20 creditors.


£500K



£500K



£500K



£500K


People that are owed money

Creditors is another term for the people and organisations you currently owe money to.

These creditors may range from loan companies, to suppliers, to HMRC.

Knowing the number and type of creditors currently owed to allows us to assess an order of priority for dealing with all of your outstanding debts.

Bank overdraft / loans

We’re aware that companies in financial trouble may have one of several overdrafts and/or outstanding loan
agreements they are currently in debt on.

Just give us your best estimate of the sum total of the figures that are currently outstanding specifically in
these two areas.

HMRC (PAYE, VAT, Corporation TAX, CIS)

Many companies find that HMRC are one of the creditors they owe the most to, between factors such as their PAYE, Corporation Tax and VAT bills at certain times of the year.

If you can, try to add up all you outstanding HMRC payments and give us a general estimate.

Other individuals/companies

Whether you owe money to one individual or 100 companies, each of them can be classed as a creditor, so the outstanding debt needs to be taken into account.

These debts can include freelance employees with unpaid invoices, stock suppliers who haven’t been paid for items, or agencies who have outstanding bills for services rendered.

Value of company assets

Now for the good news! We always look to cover the costs of a Liquidation - and any repayments to creditors - by using company assets.

Assets could include property, stock, vehicles, equipment and outstanding invoices. We can provide a full valuation of each area, but for now, just select a rough estimate.

House of Commons briefing paper; important information for UK companies

COVID-19 Advice

Here at The Insolvency Experts, we ensure that we stay informed and up-to-date on all of the key legal and financial guidelines affecting UK businesses.

This is more true than ever at the present time with all the additional pressures being faced by many companies.
With this in mind, our Head of Business Recovery, Jason Elliott shares a few thoughts on the House of Commons (HOC) briefing paper that has been released in recent days.

Jason told us: “The House of Commons briefing paper has now been released and is attached for viewing. Will be interesting to see how “fast tracked” these proposed changes are and particularly how the Moratorium for companies in financial distress preventing creditor action will work in practice”.

We will ensure that we share further updates and analysis as soon as more information becomes available, but for now, just below is a link to view the briefing paper.

House of Commons Briefing Paper 8877 Coronavirus changes to insolvency rules

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