Possible Insolvency - HMRC VAT Return

Discussion in 'Insolvency' started by bwoodlt, Jan 26, 2018.

  1. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    1,907 239
    I can't see how the accountant can help you sell the business - you need a professional agent to do this - I can put you in touch with one if this helps.

    You will then know what options are available for the Company.

    The IPs fee you have been quoted is very reasonable.
     
    Posted: Jan 29, 2018 By: Lisa Thomas Member since: Apr 20, 2015
    #41
  2. bwoodlt

    bwoodlt UKBF Contributor Free Member

    31 1
    Thanks Lisa!

    Actually the accountant confirmed he found a buyer so we are in the process of due diligence and valuation. Hopefully that goes through. In addition, please do introduce us with an agent that could help just incase.

    Much appreciated!
     
    Posted: Jan 29, 2018 By: bwoodlt Member since: Jan 10, 2018
    #42
  3. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    1,907 239
    As there is a question over the company's solvency you should ensure a professional valuation of the assets is obtained to protect yourself from any potential future claims brought against you personally of a transaction at an undervalue (say if the Company enters Liquidation)
     
    Posted: Jan 29, 2018 By: Lisa Thomas Member since: Apr 20, 2015
    #43
  4. bwoodlt

    bwoodlt UKBF Contributor Free Member

    31 1
    Understood!

    The thing is, professional valuer requires payment which we can't afford right now. Ideally, if we are able to get enough, we'll just settle HMRC and pay shareholders what's left.
     
    Posted: Jan 29, 2018 By: bwoodlt Member since: Jan 10, 2018
    #44
  5. Mr D

    Mr D UKBF Legend Free Member

    7,054 743
    Can you afford not to use a professional valuer?
     
    Posted: Jan 29, 2018 By: Mr D Member since: Feb 12, 2017
    #45
  6. bwoodlt

    bwoodlt UKBF Contributor Free Member

    31 1
    Posted: Jan 30, 2018 By: bwoodlt Member since: Jan 10, 2018
    #46