Look, we get it. You’re running a business, you’ve got customers to talk to, a website to maintain, and, of course, a family to see. Inevitably, when you’re faced with the prospect of updating your accounts, other things things get in the way. We call that “activity displacement”, and we’re all guilty of it.
Putting off doing the books for too long though can have serious consequences: you’re either flying by the seat of your pants, not quite sure if you’re making a profit or not and not sure how much tax you should be providing for, or worse, you’ve let things get to the stage where HMRC are actively pursuing you for returns or money.
We can solve these problems for you. Our guys can get you up to date in 72, 48 or even 24 hours if the need is pressing enough.
Tax & VAT Problems
Even successful businesses can come under pressure from HMRC. It could be that you are behind with your VAT, PAYE or Corporation Tax payments. In most circumstances, these will be indicators to HMRC that your business could potentially be insolvent.
Any arrears to HMRC need to be dealt with immediately otherwise late or delayed payments can alert HMRC to outstanding debts and prompt them to issue a Winding-Up Petition against your company. It is possible to speak to HMRC to discuss a Time to Pay arrangement (TTP) provided you have a sustainable cash flow and can make payments on time to discharge the arrears.
If you have already received correspondence from HMRC in the form of a Statutory Demand or Winding-Up Petition you need to take action now to give your business the best possible chance of rescue. Not only could this potentially lead to the liquidation of your company, but monies owed to HMRC could attract personal liability. If you continue to trade your company whilst insolvent, you could be faced with personal liability towards your company’s debts.
Payroll & Auto Enrolment
Payroll is a pain. Auto enrolment is a huge pain. Outsource your payroll pain to Rectify.
We’ll manage and monitor your weekly or monthly payroll and provide you with employee payslips which we can email direct to the employee or send to you for distribution. We’ll submit your RTI returns on your behalf and ensure you’re auto-enrolment compliant.
And if you’re in a fix with HR policy and procedure, we can give you a steer on this, too.
Insolvency & Recovery
The sad truth is that sometimes there’s no option but to put your company into some sort of recovery position. Rectify are in partnership with one of the UK’s leading insolvency practitioners who can help if your company requires urgent and unavoidable legal redress, such as liquidation or administration.
Remember that liquidation needn’t be the end of your business. In most circumstances, it is perfectly possible to carry on that business into a new company. However, for this to be a viable option, it’s better that the company appoints an insolvency practitioner than a creditor – although you’ll need to pay the IP, it does give you more control over what will happen.