Support for Accountants & Bookkeepers
If you don’t have an in-house insolvency team, we would love the opportunity to provide that level of service to you.
How can McLenan Corporate help you?
At one time or another, it is likely that your clients will find themselves in financial difficulty and in this regard may turn to you on diverse issues that can be time consuming and distract you from your core business. Often it is providing the extra advice and service that cements your client relationship and increases your retention rates. By choosing McLenan Corporate as your go to insolvency expert this can enable you to broaden your range of services at no cost to you and in many cases, there will be opportunities to increase your earnings.
Free consultation on insolvency options
Initial meeting where we take time to understand your client’s business, understand their pressure points and understand what the directors hope to achieve. Once we have this information, we can look at all options available. This will allow the directors to make an informed decision on the way forward and ensure they are aware of the risks involved in continuing to trade an insolvent business. This meeting is provided free of charge and can take place at a location convenient to your client.
Competitively priced Members Voluntary Liquidations (MVL’s)
When a company has reached its natural conclusion or has ceased trading, there are tax advantages of placing a solvent company into liquidation, We will always work closely with the client’s current advisors to conclude a Company’s affairs in an efficient and timely manner. With careful tax planning, early distributions of surplus funds can be made to shareholders almost immediately upon the appointment of a liquidator.
The whole Members Voluntary Liquidation process can usually be concluded within 6 months, with the Company being struck from the Registrar of Companies shortly afterwards.
We can provide expert advice and support to to your client if they are impacted by or experiencing insolvency. We can offer our industry knowledge to help them understand each step of an insolvency process with a view on maximising returns and seeking the best outcome for them, as a creditor.
Insolvency is a complex process and statutory requirements when reporting on insolvency can sometimes mean reports are not always easy to understand for those unfamiliar with the processes. We can decipher any correspondence and reports to help your client understand their position.
We can also help complete all insolvency documents, such as lodging proxies and claim forms to ensure clients maximise their return and receive whatever dividends they may be entitled to. If necessary, we can also represent your client at any creditor meetings convened.
We offer free advice either directly to your client (or through you) on a range of issues such as:
- Dealing with winding up petitions
- Concerns about trading whilst insolvent
- Pressure from HMRC, landlords or secured lenders such as banks.
- General creditors pressure
- Personal guarantee
- Bounce back loan repayments.
- Directors’ loans
- Cash flow management and informal agreements with creditors
- Commercial finance
All initial advice and guidance are provided free of charge, we would love the opportunity to support you and your clients. It is more important than ever that you reach out to us early, as the earlier you do the more options there will be.
All initial advice and guidance is provided free of charge. As an boutique insolvency practice, we do not provide the services you do so you can rest assured we will not entice your clients.
McLenan Corporate is a trading name of McLenan Corporate Solutions Limited, 1 Union Street Saltcoats KA21 5LL. Company Number SC651445.
Margo McLenan is licensed to act as Insolvency Practitioner in the UK by the Insolvency Practitioner Association.
Insolvency Practitioners are bound by the Code of Ethics when carrying out all professional work relating to an insolvency appointment.