Business rescue and insolvency options ... Rule of six

Informal TTPs

  • If creditors are not paid as they fall due then your company is insolvent
  • If you pay within agree extended credit terms then ... your company is solvent
  • Reschedule loan/finance repayments
  • HMRC TTP proposals
    - Current arrears only
    - Spread over a realistic period ... but <12 months
    - Include an initial payment on acceptance
    - Keep to it!

... helping FSB members through difficult times ...

McTear Williams & Wood Brochure