At Turpin Barker Armstrong we understand that sudden changes in the environment can leave a business or individual facing unexpected financial strains. We can help relieve the stress by providing confidential, expert business insolvency advice or individual insolvency advice over the telephone or in person. Our qualified and friendly staff will explain all of the options available to you or your company to enable you to make an informed decision as to how to move forward.
Money is a complex and sometimes difficult matter therefore we always deal with every situation in a sensitive and confidential manner. We tailor our advice to each personal circumstance and provide individuals with expert personal insolvency advice to make the process as painless as possible.
Early advice is best
We have a number of options available to individuals and always recommend seeking advice as soon as the first sign of financial problems arise. We always offer the first meeting free so call us today on 0208 6617878.
At Turpin Barker Armstrong our team of trained business recovery professionals can help you as a director identify the cause of your problems and recommend solutions to improve profitability and cash flow, or to recommend a formal insolvency process if this appears to be the only solution.
Early advice is best
Wherever possible, if people come to us early enough before it is too late, we will always try to find a rescue package to save your business or to prevent a formal insolvency.
Many business failures could have been avoided if the owners had taken the right advice at the right time. Some of the most common causes of business failure are bad debts, reduced demand, excessive borrowing, and adverse economic circumstances. Unfortunately all too often business owners do not face up to these problems until it is too late. We can ease that stress and welcome directors to call at any time to discuss their worries or general queries about their existing and or possible future financial problems.
The key is to seek professional help as soon as the first signs of difficulty appear. With timely advice a business may be saved from failure, particularly if there is a genuinely profitable core to the business. With this in mind we always offer an initial advisory meeting free of charge, please call us on 0208 6617878.
Beware of unregulated firms or individuals
Unfortunately there are unlicensed firms offering insolvency advice to individuals and directors. Turpin Barker Armstrong are members of R3 – The Association of Business Recovery Professionals. R3 members are all fully qualified and regulated professionals. If you are worried about who is safe to get advice from have a look at our page on unregulated advisers here.
All our insolvency practitioners are regulated and licensed to provide corporate and personal insolvency services by the ACCA.
With effect from April 2017 there will be changes to IR35 which will impact upon many currently working in the public sector.
The announcement made by the Chancellor during his 2016 Budget speech was that “Public sector organisations will have a new duty to ensure that those working for them pay the correct tax rather than giving a tax advantage to those who choose to contract their work through personal service companies.”
The rules do not apply to the private sector but it appears that the changes are already impacting upon many in the public sector who previously operated using these personal service companies. It has been stated that the purpose of the changes is to deal with the deemed widespread non-compliance that has occurred. Many workers will find that they have not set aside sufficient funds to account for their tax liabilities and the usual result is that it will create an overdrawn director loan account with a balance repayable to the company. If you are in this position then it is important that you seek advice as soon as possible on the appropriate route forward. Turpin Barker Armstrong has experience in dealing with these circumstances and we would be happy to go through your specific situation at a time convenient to you. We also offer the first meeting free of charge with no obligation to sign up. We can be contacted via phone, online chat or via email contact us here or fill out our online contact form here and we will contact you asap.