| Here at Help With Debt we are getting quite a number | | | | for our company directors, who are looking to close |
| of calls from small business owners who are finding it | | | | their companies and have the debt written off and |
| tough to pay their accrued corporation tax. We have a | | | | maybe take paid employment. |
| familiar theme running through the calls which seems to | | | | We are happy to advise on a company voluntary |
| suggest that many labour only contractors have now | | | | liquidation for any director who finds that they cannot |
| had contracts come to an end and not be renewed. | | | | pay a corporation tax bill. The usual costs for closing a |
| The completion of these contracts without renewal | | | | company via a CVL are in the region of £5000 plus |
| means that no income is earned. With no new income | | | | vat. We are now happy to be able to offer the same |
| coming in, the reserves set aside to pay the | | | | solution for a fee of around £3500 plus vat. |
| corporation tax get used to provide an income for the | | | | The benefit of using us to close the company in this |
| individual whilst new jobs are sought. | | | | way is that you control the winding up process, rather |
| It does not take long for a corporation tax bill of | | | | than leave the matter in the hands of the HMRC who |
| £20,000 which has been provided for to be utilised | | | | may wind up your business and subject you to the |
| when a contract comes to an end, especially if there is | | | | scrutiny of the Official Receiver. The OR has many |
| sometime before the tax is actually due to be paid. | | | | powers and these can include obtaining orders to |
| Unfortunately in harsh economic times getting new | | | | personally repay loses. If you engage a professional to |
| work can be tough. The calls we have taken and | | | | close the company, steps can be taken to ensure that |
| advised on seem to anticipate a change of direction | | | | you do everything appropriately. |