What's your concern?
Select from below what your concern is. We’ll show you what it may mean and how we can help.
HMRC arrears may follow a difficult month or be part of wider financial pressure. A Time to Pay arrangement may be possible if the company can afford the repayments. If it cannot, there may be other ways to deal with the debt.
How we'll helpWe'll look at what is owed, any action HMRC has taken and the company's wider financial position, then explain the available options.
Calls, letters and legal action from creditors can be difficult to manage. How far matters have progressed — from payment reminders to a winding-up petition — affects how quickly action may be needed and which options remain available.
How we'll helpWe'll establish who is pursuing payment, what stage matters have reached and what needs attention first.
An outstanding Bounce Back Loan remains a company debt. The next step depends on the company's ability to repay it, its wider financial position and how the loan was used. Difficulty repaying the loan does not, by itself, mean you have done anything wrong.
How we'll helpWe'll look at the loan in context and explain the available options, including anything that could affect you personally.
Being unable to pay wages is a sign that the company needs prompt attention. It may be a temporary cash-flow problem or part of wider financial pressure. Understanding what is due and when will help establish the appropriate next step.
How we'll helpWe'll review the immediate cash position, what is due to employees and explain the options for the company and its staff.
Falling behind with suppliers can put day-to-day trading under pressure, particularly where essential goods, services or credit terms are at risk. One overdue balance may need a different response from several unpaid suppliers or threatened legal action.
How we'll helpWe'll look at what is owed, which suppliers are essential and whether repayment arrangements or other options may be realistic.
Company debt rarely arrives in a neat order. You may be dealing with HMRC, suppliers, lenders and wage pressure at the same time. Breaking the position down makes it easier to identify what is most urgent and which routes may be realistic.
How we'll helpWe'll take each issue in turn, build a clear picture of the company's position and help you understand your options.
You do not need to wait until a payment is missed to review the position. Looking at money due in, upcoming payments and available funding can help show whether the pressure is temporary or likely to continue.
How we'll helpWe'll review the company's cash flow, debts and future commitments, then explain what steps could be considered now.
You do not need to know exactly what the problem is or which route may be right. The starting point is understanding the company's debts, cash flow, assets and future prospects.
How we'll helpWe'll explain the position and the realistic options in plain English. You decide whether you want to take anything further.
Initial advice is free and confidential. You’ll deal directly with the Wilson Field team from your first conversation. If a formal insolvency process is appropriate, it will be handled by one of our licensed insolvency practitioners. We’ll explain the process and costs before you decide whether to proceed.
Free confidential advice All initial advice is free of charge allowing you to decide how to proceed.
Licensed insolvency practitioners We are licensed by the ICAEW, all work is carried out by us.
No jargon & clear options We’ll be clear about which routes are realistic, and appropriate for your company.
The broad outcomes
Company debt can lead to different outcomes. The right route depends on your company’s finances, the strength of the underlying business and what can realistically be achieved.
If the underlying business is viable, funding, creditor agreements or formal restructuring may allow the company to deal with its debts and continue trading.
See the optionsIf your company cannot continue with its debts but the underlying business remains viable, some or all of the business may be sold and continue under new ownership. Any sale must provide an appropriate outcome for creditors.
See the optionsIf continuing the company or preserving its business is not realistic, a Creditors’ Voluntary Liquidation can provide an orderly way to close. Acting early gives you more time to prepare and understand what happens next.
See the optionsOur services
Refinancing may give your company the breathing room it needs without entering a formal insolvency procedure. Options can include invoice finance, asset-based lending, consolidating existing borrowing or securing new investment.
A Company Voluntary Arrangement, or CVA, can give your company time to deal with its unsecured debts through a formal agreement with creditors while it continues trading.
Administration can give your company legal protection from most creditor action while a licensed administrator assesses the best available way forward.
If your company cannot continue in its current form but the underlying business remains viable, a pre-pack administration can allow a sale to be arranged before administrators are appointed.
Where a viable trade can continue but the existing company cannot, a sale of its business or assets may be arranged before the company enters a Creditors’ Voluntary Liquidation.
If closing the company is the appropriate route, a Creditors’ Voluntary Liquidation, or CVL, provides a clear and orderly way to deal with its affairs.
Independent reviews
Here are some of the experiences people have shared after contacting us for advice and support.
We’re going through the painful process of insolvency. Charlotte Davison at Wilson Field has been straight-forward, clear, sympathetic, friendly and professional. You really need someone you can trust as you go into this.
I spoke with Nici, she couldn’t have been more helpful. I felt as though a weight had been lifted. A fantastic level of professionalism but with a sincere care for how I was feeling through this difficult time.
Very good advice and simply put without the jargon.
Very useful and easy to understand guidance given on how to dissolve a company.
Spoke with Chris who was able to offer me some excellent, practical advice. Extremely friendly and professional to deal with — I can’t recommend them highly enough!
Very professional company. Spoke to Chris at Wilson Field, who gave clear and honest advice regarding my business matter.
Brilliant, straight to the point, answered my questions promptly. A+.
A tax issue was playing on my mind and I couldn’t find the answer on Google. The chat function with a real person was a great help. Thank you to Beverley Horton.
Nicola Hoole has been absolutely fantastic! I cannot thank you enough for assisting my company. I would highly recommend Nicola!
Stephen Hall was very helpful with my questions on closing down a dormant Ltd company. I can’t thank him enough.
Fast and helpful! I needed some advice, they called me and told me what to do. Big help!
I spoke to Stephen Hall regarding a liquidation enquiry. Stephen was very helpful in providing the information I required.
I have contacted Christopher today for advice and he was extremely knowledgeable, super fast, helpful and clear in his responses. Highly recommended!
Nicola Hoole has been excellent helping resolve a situation that was no fault of ours. She even provided useful advice on a Sunday.
Had a very good initial experience contacting Wilson Field. Thanks to Beverley Horton for being very responsive and helpful in moving my enquiry forward.
Beverley Horton was a great help in pointing me in the right direction. She was very patient and helpful.
Next steps
We look at what is company debt, what could sit with you, and how urgent it is. You do not need to have decided to close.
If the company can still be rescued, we say so. If a formal process is needed, we explain why — and the fees — first.
Instruct us, or don’t. Initial advice is free. You are not handed on to someone else.
Director questions
Usually not, if the company is a limited company and you have not given a personal guarantee. Limited liability can be lost where there is an overdrawn director’s loan, wrongful or fraudulent trading, or other misconduct. We will map personal exposure on the first call. This is general information, not legal advice for your case.
No. The first conversation is to understand whether this is a cash-flow problem or something more serious. We will not assume insolvency is the only answer. If the company can still be rescued or managed, we say so. If a formal process is needed, we explain why — and you decide whether to instruct us. Initial advice is free and without obligation.
Sometimes. Call HMRC sooner rather than later; putting it off usually makes the position worse. A Time to Pay arrangement can allow affordable monthly instalments where HMRC agrees. If that is no longer realistic, there are still options for the company — including, where appropriate, a formal insolvency process. We will not promise a write-off or that HMRC will agree a plan.
A Bounce Back Loan is generally a company liability. It is not automatically your personal debt. Personal issues can still arise if the loan was obtained or used improperly, or if you gave a separate guarantee. A formal process deals with the company’s unsecured debts; it does not automatically cancel a personal guarantee. Tell us about guarantees, charges and Bounce Back Loans at the outset so the advice is accurate.
A limited company’s debts do not, by themselves, sit on your personal credit file. Your personal credit can still be affected where you gave a personal guarantee, have an overdrawn director’s loan, or there is other personal liability. Closing the company is not a way to clear those. We will separate company debt from personal exposure on the call.
In many cases, yes. A Creditors’ Voluntary Liquidation does not itself disqualify you. The liquidator investigates director conduct, and the court can disqualify directors who have breached their duties for up to 15 years. Reusing a similar company name is restricted by law. Whether you can be a director of a new company depends on those facts, not on the process label alone.
When you are ready
You don’t have to face this alone. Freephone, including mobiles. Confidential advice 7 days, 9am–8pm. Initial advice is free. Fees apply only if you instruct a formal procedure.
