The recipient of an HMRC winding up petition can be very confused when trying to understand the best course of action.
Despite the large amount of Internet waffle, the correct path is very clear if the director wants to keep the company but does not have enough money to pay off the HMRC Winding up Petition.
For the company to continue to trade, the HMRC Winding up Petition needs to be controlled.
The good news is that whilst this petition is in place, it does ironically protect the business from other creditors!
If time is short prior to the HMRC Winding up Petition hearing then it is important to have the petition adjourned.
Call TaxGone on 01302 815846 for a meeting to discuss all your options.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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