Welcome to insolved
insolved was born out of an established Forensic Accountancy practice can trace its’ roots back 20 years and which has built an unrivalled reputation for excellence in solving complicated, costly and protracted debt problems for businesses.
With an in-house legal team supported by forensic expertise in financial disputes ranging from tax investigations to financial disputes with the top 5 banks in the UK, we are uniquely placed to solve debt problems – ethically and with a focus on solving the problem not just running up costs.
Welcome to insolved
insolved was born out of an established Forensic Accountancy practice which not only can trace its’ roots back 20 years but which has built an unrivalled reputation for excellence in solving complicated, costly and protracted debt problems for businesses.
With an in-house legal team supported by forensic expertise in financial disputes ranging from tax investigations to financial disputes with the top 5 banks in the UK, we are uniquely placed to solve debt problems – ethically and with a focus on solving the problem not just running up costs.
What do we do
In relation to Directors Loans in an Insolvency, we act for the ex-director in mitigating and minimising the amount to pay.
We carefully assess the enquiries we receive and we only act in cases where we know we can make a significant difference. Initial investigation is done without cost or obligation to proceed. Where we agree we can act, we provide you with a comprehensive written Case Plan to approve before any costs were incurred. In almost all cases, our fees are linked to success so we only get paid if successful.
As Forensic Accountants, we find the legitimate ways to reduce your exposure, legally and permanently.
We sit in the middle but we act solely for our client from start to finish only acting to get the best possible outcome for you.
What do we do
In relation to Directors Loans in an Insolvency, we act for the ex-director in mitigating and minimising the amount to pay.
We carefully assess the enquiries we receive and we only act in cases where we know we can make a significant difference. Initial investigation is done without cost or obligation to proceed. Where we agree we can act, we provide you with a comprehensive written Case Plan to approve before any costs were incurred. In almost all cases, our fees are linked to success so we only get paid if successful.
As Forensic Accountants, we find the legitimate ways to reduce your exposure, legally and permanently.
We sit in the middle but we act solely for our client from start to finish only acting to get the best possible outcome for you.
Our client’s debt, supposedly, doubled from £60,000 to £120,000 once the Liquidator had taken control of their former company. The Liquidator had no interest in properly reconciling the amount due. All of our client’s requests for help were ignored. The client approached us worried that the Liquidator would follow through on their ‘threats’ to make them bankrupt.
As is all too common in corporate insolvency, the Liquidator’s priority is not the former director. We were able to do an initial assessment of the papers our client had received and then use our considerable experience to approach the Liquidator more formally and robustly.
It took some considerable effort but we were able to get the Liquidator to back down and then put them in a position that they wanted to negotiate a settlement rather than insist on our client’s bankruptcy. We also conducted a reconciliation exercise to show that the amount of the debt was actually far less than the original £60,000 and nothing like the Liquidator’s demands for £120,000.
When we presented all of this information to the Liquidator, we were able to get them to confront the reality of the situation and then take into consideration our fees which had been caused by the Liquidator’s intransigence. Three months after appointment, we agreed a settlement which, including our fees, was £24,900.
Case Study 1
Liquidator increased debt amount after liquidation
Case Study 1
Liquidator increased debt amount after liquidation
Our client’s debt, supposedly, doubled from £60,000 to £120,000 once the Liquidator had taken control of their former company. The Liquidator had no interest in properly reconciling the amount due. All of our client’s requests for help were ignored. The client approached us worried that the Liquidator would follow through on their ‘threats’ to make them bankrupt.
As is all too common in corporate insolvency, the Liquidator’s priority is not the former director. We were able to do an initial assessment of the papers our client had received and then use our considerable experience to approach the Liquidator more formally and robustly.
It took some considerable effort but we were able to get the Liquidator to back down and then put them in a position that they wanted to negotiate a settlement rather than insist on our client’s bankruptcy. We also conducted a reconciliation exercise to show that the amount of the debt was actually far less than the original £60,000 and nothing like the Liquidator’s demands for £120,000.
When we presented all of this information to the Liquidator, we were able to get them to confront the reality of the situation and then take into consideration our fees which had been caused by the Liquidator’s intransigence. Three months after appointment, we agreed a settlement which, including our fees, was £24,900.
Case Study 2
We get £25,000 Directors Loan written-off
Our client approached us as they had received a demand of £25,000 around 8 months after the liquidation started. When the process started they were told they would have no liability whatsoever.
Using our forensic approach, we were able to obtain and then investigate substantial accounting records but the Liquidator fought every step of the way against releasing documentation. Each tranche released showed more issues with the Liquidator’s claims.
After 9 months of correspondence, we were able to show the Liquidator that there was little chance of any recovery and they agreed to write-off the balance and close the liquidation.
Case Study 2
We get £25,000 Directors Loan written-off
Our client approached us as they had received a demand of £25,000 around 8 months after the liquidation started. When the process started they were told they would have no liability whatsoever.
Using our forensic approach, we were able to obtain and then investigate substantial accounting records but the Liquidator fought every step of the way against releasing documentation. Each tranche released showed more issues with the Liquidator’s claims.
After 9 months of correspondence, we were able to show the Liquidator that there was little chance of any recovery and they agreed to write-off the balance and close the liquidation.
Our client’s company was facing insolvency because they simply could not collect the debt that was due to them in time to meet their own obligations. Luckily, they approached us directly for a second opinion after their accountant had recommended a Liquidator. We advised the client that they did not need to liquidate their company and repay a £60,000 Directors Loan. Instead, we could structure four different parts of work to interact and work together to resolve the totality of issues.
We sat between HMRC and the company to stop HMRC taking action to wind-up the company whilst we performed our other roles.
We worked extensively with the debt owed to the company and ensured that older debt, which had been written off in their accounts, was collected within 3 months of the original enquiry. This introduced £50,000 into the company.
Whilst we had been collecting the debt we investigated the tax affairs of the company and were able to file additional returns to legitimately reduce their tax liabilities that had been the catalyst to the original enquiry.
The £50,000 cash injection was able to create a profit allowing the Director to take, as a Shareholder, a one-off dividend which cleared his Directors Loan.
We were able to re-structure the company’s remaining debts owing so that they could be paid over a longer timescale. Whilst this increased the interest paid over the longer run, it had an immediate cashflow benefit which, when coupled with the other work, saved the company and all 5 jobs.
Case Study 3
Debt owing delayed, debt owed collected. Liquidation avoided.
Case Study 3
Debt owing delayed, debt owed collected. Liquidation avoided.
Our client’s company was facing insolvency because they simply could not collect the debt that was due to them in time to meet their own obligations. Luckily, they approached us directly for a second opinion after their accountant had recommended a Liquidator. We advised the client that they did not need to liquidate their company and repay a £60,000 Directors Loan. Instead, we could structure four different parts of work to interact and work together to resolve the totality of issues.
We sat between HMRC and the company to stop HMRC taking action to wind-up the company whilst we performed our other roles.
We worked extensively with the debt owed to the company and ensured that older debt, which had been written off in their accounts, was collected within 3 months of the original enquiry. This introduced £50,000 into the company.
Whilst we had been collecting the debt we investigated the tax affairs of the company and were able to file additional returns to legitimately reduce their tax liabilities that had been the catalyst to the original enquiry.
The £50,000 cash injection was able to create a profit allowing the Director to take, as a Shareholder, a one-off dividend which cleared his Directors Loan.
We were able to re-structure the company’s remaining debts owing so that they could be paid over a longer timescale. Whilst this increased the interest paid over the longer run, it had an immediate cashflow benefit which, when coupled with the other work, saved the company and all 5 jobs.
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