Project
We helped a business to protect their excess cash in a time of crisis.
The Outcome?
By protecting the business cash, assets and property in a holding company during the crisis we were able help the business survive and continue trading. This was all achieved with full HMRC clearance.
Project
We acted for a care sector business with borrowings of more than £1.5m. Sadly, one of the business owners passed away which led the bank to call in the loan and overdraft funding. This was not an ideal situation for the business, and we stepped in to negotiate the bank meetings, organise a realistic payment plan and helped obtain further grant funding.
The Outcome?
The business has survived, and the support of the Thompson Wright team helped alleviate the stress of the situation from the surviving owner. The business is now thriving, and we continue to help them with diversification plans
Project
We were approached by a client whose business had suffered financially due to a large bad debt. The result of this non-payment had led to serious cashflow issues, which were not being helped with a looming VAT payment. So serious was this debt that the business was in danger of going into liquidation. We were able to help, by negotiating with HMRC for time to pay arrangement and with a new finance provider to find ways to re-finance the debt through invoice financing.
The Outcome?
The business survived and remained solvent. Happily, they are now a very successful and thriving business.
Project
This client had fallen into a position of insolvent trading, running on a £300,000 overdraft. The Bank were threatening to close on them so we helped them negotiate and re-structure a debt forgiveness settlement.
The Outcome?
The family have managed to keep their property business and hard-earned assets as a result.
Project
This engineering company approached us when it became obvious to them that their current accountant was providing poor accounting information and no advice. The business was in financial trouble as a result so we hand held them to organise a pre-pack and re-start position.
The Outcome?
Now a profitable business and we have taken away the stress from the business owner. They were able to keep the staff and came out the other side.
Project
This client had an overdrawn directors loan account and were heading for a large tax bill. We helped to re-structure the business, thereby reducing the tax bill and enabling them to re-invest in the business.
The Outcome?
Now a profitable and successful business going forward.
Project
A client ran a successful and profitable breeding business alongside a loss-making stables business. We helped them to create a holding company and group structure which mitigated the tax position for both companies.
The Outcome?
We saved both businesses and reduced the overall tax liability.