Why the client needed our help
Our client, an executive search firm for global companies, had expanded its business and agreed client-determined payment periods. Unfortunately, this had resulted in a liquidity and cash flow issue and delays in the firm’s payments to HMRC. Following HMRC’s presentation of a winding up petition, our client was unable to access its bank account to continue trading, leaving it unable to satisfy its liabilities to HMRC.
How we helped
We assisted the client in obtaining a validation order so that it could continue trading and access its bank account. We also negotiated a payment plan with HMRC which resulted in the withdrawal of its winding up petition.
Our client was able to repay HMRC in full and resume trading.