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  • Writer's pictureLMS

Am I Insolvent?

Updated: Mar 18, 2021

If you’re Company is unable to pay its debts on time (e.g. tax debts, VAT or PAYE) or your assets are less than your liabilities (debts) then it is insolvent.

The Insolvency Act (Section 123) describes insolvency as the inability to pay debts as they fall due; Liabilities are more than assets; Unsatisfied CCJ or unpaid statutory demands over £750.

LMS can provide general insolvency guidance as well as information on Insolvent Trading or Trading whilst Insolvent.

How can LMS help?

We specialise in helping companies facing insolvency. Here are some of the ways we can help:

⦁ Explain all your options ⦁ Help you find the best solution for your situation ⦁ Guide you through the process in the most beneficial way ⦁ Save your company if required

⦁ Reduce and write-off debts

0161 864 3824 or e-mail: to arrange a free, none obligated meeting, which could take place on the telephone or at our offices.

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