Coronavirus (COVID-19) has forced strict social distancing measures on Britain, and consequently, many businesses are experiencing hardships; whether they operate as a sole trader or through a limited company. While the government is putting together assistance schemes and packages to help struggling companies and sole traders, if you’re insolvent, or your business is getting into trouble, you should seek help immediately from a licensed insolvency practitioner.
Who we are, and what we do
Wilson Field’s licensed insolvency practitioners are licensed by the ICAEW, offering free advice and a range of insolvency procedures tailored to suit your needs. We work with limited companies and individuals looking for assistance in business recovery, turnaround and closure. We’ve been in business since 2001, our staff have a plethora of experience in a variety of backgrounds, and we have developed a strong working relationship with HMRC.
All our insolvency practitioners’ advice is licensed and regulated by the ICAEW, so by speaking to us; you can be sure you’re getting help appropriate for your circumstances.
Help for companies
Regardless of whether your company was struggling before the arrival of COVID-19, or the difficulties brought on by the coronavirus have caused new problems for the business’ cash flow, we can help. We can offer a range of procedures to help your business recover; which may involve repaying your creditors in affordable monthly instalments or restructuring the company with the help of a third party. If need be, we can also assist with closing a limited company, and allowing you to make a new start.
Help for sole traders
The coronavirus outbreak will undoubtedly be a scary time for those who are self-employed. Without the support of a limited company, many could feel like they’ve been left to fend for themselves.
While support for sole traders is being actioned, and mortgage and rent holidays mean certain financial pressures should be eased, you may still find yourself falling into debt as a result of the lack of work, and bankruptcy could feel inevitable. Fortunately, we can offer an alternative to bankruptcy, for both sole trader and personal debt.
Help for employees and individuals
Even if you’re supported by an employer and receiving 80% of your wages, or Statutory Sick Pay, for those struggling to make ends meet, a loss of 20% of their pay may still leave them unable to cover their liabilities when they fall due. This deficit could lead to sleepless nights as the coronavirus continues to impact daily life.
If you’re worried about personal debt due to the coronavirus, we may be able to help; speak to us today, and one of our advisors can help put you on the right path towards relieving your personal debts.
Whether your business operates through a limited company or as a self-employed sole trader, the recent coronavirus outbreak has created an air of uncertainty, and if you find yourself struggling to cover your liabilities, you should speak to us for immediate help. We have a wealth of experience in assisting with company recovery and closures, ICAEW regulates all our advice, so with us, you can be sure of a professional approach best suited for your circumstances.
Speak to us today to start the ball rolling and get things back on track.
Book a free telephone consultation with one of our initial advisers