Even for companies with the best profits, poor cash flow (working capital) will effect business performance and weaken resilience.  So a downturn event such as COVID-19 (Coronavirus) could spell trouble. However, there are things to be done…

The Government is pressing ahead with planned changes to favour HMRC in insolvencies, despite opposition from the insolvency industry trade body, R3.

Creditor pressure and late payment penalties can be very stressful.  Depending on severity, there are a few options which can help a company to move away from insolvency as long as there's a realistic prospect of recovery and action is take…

Greenfield Recovery, provider of licensed insovency services UK wide is pleased to announce the promotion of Sam Shepherd to Assistant Insolvency Manager and Michelle Dutton’s move to Insolvency Manager. “Both Sam and Michelle are a key par…

As ‘all animals are equal’ in the novel Animal Farm by George Orwell, ‘all creditors are equal’ in insolvency should directors wish to avoid assertions involving unfair preference payments.

As an invited guest blogger of Companies House, we shared the answer to explain the purpose of an administration, going into administration, its end results and situations an administration may be viable for.  Plus, pre-pack administration.…

As an invited guest blogger of Companies House, we recently shared our CVA knowledge with them to discuss the purpose of a CVA and its use, potential CVA benefits, business plans and the CVA proposal and lastly, the CVA process.

We recently shared with Companies House, as an invited guest blogger, our knowledge about the early signs of insolvency, tests for insolvency, resolutions and director duties when insolvent.

Greenfield shared with The Gazette how creditors and debtors will be affected by recent government's proposals aimed at improving business rescue opportunities for financially distressed companies.

There are many KPIs to check fully the breadth of business health but keeping an eye on the well-being of the financial KPI (especially those relating to business cash flow, cited as the leading cause of insolvency) will go a long way to go…

Improve cash flow: credit insurance, invoice finance & asset based lending.  When customers cannot pay your invoices due to insolvency the effects on your business cash flow and the ability to pay your commitments can be far reaching. …

Like the Greek God Zeus who governed the daily lives of the mortals by patrolling the skies, credit control presides so that sales revenues increase, by extending credit to those deemed credit worthy; able to pay and pay on time.

Insolvency is not always permanent.  As such, for directors with duties, it’s important to know a thing or two about trading whilst insolvent and wrongful trading.

HMRC debt begins to build when a company can’t pay VAT, can’t pay PAYE or can’t pay corporation tax. These are often signs of insolvency. The following details essential action for HMRC debt to manage the financial and legal penalties that …

Balancing the accounts is a ceaseless melee; money coming in - with that that’s going out (and at the very last moment where possible!).  A toil for every company but for the most part, one that’s managed.  Allowing cash flow to sustain and…

No one wants to shine a light into that deep, dark corner that is Compulsory Liqudiation, but what do you do if you receive a Winding Up Petition?  Foremost, keep your head.  Act within 7 days and you can stop the Winding Up Petition from b…

It’s not uncommon for a company to suffer creditor pressure.  Colluding conditions of late customer payments, declining markets, lack of finance and more, sometimes form to make the perfect cash flow storm. The key to surviving said credito…

When there are unexpected cash flow problems, falling behind on payments to HMRC is easy to do. Corporation Tax, VAT or PAYE payments will often play second fiddle to the immediate expenditures of suppliers, wages, rent and utilities.  A po…

As Christmas approaches it seems a good time to remember the humble beginnings of the Insolvent Debtors Act 1813 and how life has improved since.  Envisage if you will, the early Victorian period of ‘A Christmas Carol’ by Charles Dickens. A…