Business recovery

At Ellis Breese, we will help you explore all the possible solutions available to your business with the aim of avoiding formal insolvency procedures where possible. Our impartial and honest advice includes looking at informal arrangements you can make to repay creditors and keep your business going. We can assist with H M Revenue and Customs negotiation and agreeing time to pay arrangements. We are also able to offer expert guidance on restructuring, corporate finance and strategies to turn your business around.

Kate Ellis has extensive experience in negotiating with H M Revenue and Customs with regard to Disclosure of Tax Avoidance Schemes (‘DOTAS’) Accelerated Payment Notices (APN’s) and Follower Notices.

Creditors’ Voluntary Liquidation (CVL)

If your business is experiencing serious issues with cash flow or you are worried about creditors taking action against you, a Creditors’ Voluntary Liquidation (CVL) may be the best solution. This course of action involves voluntarily closing your company, removing the pressure caused by debts and preventing possible legal action.

Company Voluntary Arrangement (CVA)

At Ellis Breese we have extensive experience in writing CVA proposals for submission to creditors we will carry out an alternative to liquidation, a Company Voluntary Arrangement (CVA) allows businesses to continue trading and find a sustainable way of repaying longstanding debt. Ellis Breese has experience in writing CVA proposals which will be accepted by creditors and will carry out a detailed business review to determine whether a CVA is right for your company.

Members’ Voluntary Liquidation (MVL)

There can be a number of reasons you might want to stop trading and it isn’t always to do with financial difficulties. A Members’ Voluntary Liquidation (MVL) is a way of closing a business which is still profitable and solvent. Ellis Breese can help you put an end to your business in a tax-efficient and cost-effective way and ensure your shareholders benefit from your remaining assets.

Partnership Voluntary Arrangement (PVA)

Partnership Voluntary Arrangement (PVA) This is a formal arrangement between a partnership and its creditors to pay back a proportion of outstanding debt so the venture can carry on trading. Ellis Breese will prepare all your paperwork and negotiate with your creditors to allow you to tackle your financial liabilities and continue trading.

Compulsory Liquidation

Compulsory liquidation If you’re concerned about the prospect of compulsory liquidation, Ellis Breese can offer advice about the best way forward. A compulsory liquidation is a formal insolvency procedure, which forces a business to close and liquidate its assets. It is usually brought about by unhappy creditors lodging a winding up petition (WUP) with the court. Once a WUP has been lodged, companies who want to avoid compulsory liquidation must act quickly. Ellis Breese can offer expert guidance on every stage of the process.

Receivership

If your company is insolvent or you default on a secure loan agreement, one of your creditors can appoint a receiver to take control of some or all of your assets in a bid to recover their money. If your business is at risk of receivership, Ellis Breese can work with you to find an alternative solution, which could include going into administration.

Administration

If you have serious cash flow problems and are concerned that your creditors may take action against you, going into administration may be the answer. When a business appoints administrators, it is able to continue trading while taking steps to secure a sale of either the company itself or its assets. Ellis Breese can take over the management of your company to secure its protection, avoid any legal action and find the best way forward. This might involve a pre-packaged administration procedure which sees the business and its assets sold to a new company or an existing third party as soon as an administrator is appointed.

Advice for individuals

Ellis Breese offers professional and easy-to-understand advice for individuals facing financial difficulties. Our expert team will listen to your situation with sympathy before giving honest and non-judgmental guidance in complete confidence. We can talk you through the range of options available to you to put an end to your debt issues and start looking to the future. These include:

• Bankruptcy – filing for bankruptcy is a legal process which allows people who cannot afford to repay their debts to write off the money they owe and make a fresh start.

• Individual Voluntary Arrangements (IVAs) – formal agreements to pay back your debts at an affordable rate over a period of time.

LEEDS OFFICE

The Tannery
91 Kirkstall Road
Leeds
LS3 1HS

CONTACT US

0113 467 8740
confidential@ellisbreese.co.uk

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