For UK company directors · free & confidential

If your company is in trouble, you still have options. And you are not alone.

Clear, honest guidance on every path, then a free, confidential introduction to the right expert for your situation.

We cover: HMRC & VAT arrears · Liquidation (CVL) · Administration · CVA & rescue · Strike-off · Bounce Back Loan · Winding-up petitions · Director liability and more.

Free, confidential and non-judgemental. You stay in control: we share your details only with the one expert we match you to.

Insolvencies highest since the early 1990s HMRC the largest presenter of winding-up petitions £47bn lent under Bounce Back Loans ~1,500 licensed insolvency practitioners See the data →

What is happening with your company?

My company owes HMRC VAT, PAYE or Corporation Tax arrears, or a threat of action from HMRC. HMRC presents more winding-up petitions than any other creditor. I have a winding-up petition · urgent The most serious creditor action. Time sensitive. Advertised in The Gazette as soon as 7 business days after service; bank accounts are usually frozen once advertised. Creditors are chasing me Demands, statutory demands, CCJs, bailiff action or contact from a debt collector acting on behalf of a creditor. A statutory demand gives 21 days to pay before a creditor can petition. We have cash flow problems Struggling to pay wages or suppliers on time. Cash flow problems are likely to become worse if ignored. Early advice is critical and can mean the options available are wider. I want to close the company Work out the right route: strike off or liquidation. Dissolution should only be used where there are no remaining debts. Can the business be saved? Rescue options if the business is still viable. The key test is whether the business is viable once the pressure is dealt with.

Written by the LTD Turnaround editorial desk and checked against official UK sources: the Insolvency Service, Companies House, The Gazette and gov.uk. Editorial policy · How we are funded

Can the business realistically trade profitably once the immediate pressure is removed?

That single question decides almost everything else. A Licensed Insolvency Practitioner assesses it properly on a first call, but this is the honest starting point.

Probably yes The business can trade profitably once the immediate pressure is removed. Explore rescue and repayment options. Probably not The underlying business isn't viable any more. Understand controlled closure. Not sure You need to work out where you actually stand first. Use the insolvency checker, or talk it through.

See every route compared side by side →

Find out where you stand

Honest calculators that the firms tend to bury behind a phone call. Use them first, then talk to someone if you need to.

Is my company insolvent? The cash-flow and balance-sheet tests, in plain English. HMRC Time to Pay affordability What HMRC is likely to accept, based on a cashflow review. Winding-up petition timeline Your key dates and when the bank is likely to freeze the account.

Explore all 12 free tools →

LTD Turnaround is an independent information service for UK company directors in financial difficulty. Whatever the problem, HMRC arrears, a winding-up petition, relentless creditors or simply not enough cash to make payroll, the single most important thing to know is that your options are widest when you act early. Most directors wait too long because they are frightened, and by the time they seek help some of the best routes have closed. This site gives you straight, properly sourced answers and free tools so you can understand your position in minutes, then, if you want it, a free and confidential introduction to the right expert for your situation, whether that is a turnaround adviser, a tax specialist or a licensed insolvency practitioner. We do not sell you anything and we are not a law firm. We explain the choices honestly, including the times when you do not need to do anything formal at all. Insolvency Service, gov.uk

UK Business Distress Nowcast checked 19 August 2026

winding-up petitions published in The Gazette in the 7 days to 19 August 2026. Each one is a real company whose creditors ran out of patience.

For context: company insolvencies in England and Wales are at their highest level since the early 1990s, and HMRC presents more winding-up petitions than any other single creditor. Around £47bn was lent to UK small businesses under the Bounce Back Loan scheme, and roughly 1,500 people hold an Insolvency Practitioner licence nationally.

If you've been served a petition, here's what it means and what to do next. Most directors still have options if they act now.

Sources: The Gazette insolvency notices feed (Open Government Licence v3.0) · Insolvency Service · British Business Bank. Open the data hub →

Why act early

Once a company is insolvent, the law expects directors to put creditors first. Acting promptly is not just commercially sensible, it is how you protect yourself from claims such as wrongful trading. It will not necessarily reduce your exposure under a personal guarantee or an overdrawn director loan account, that exposure crystallises regardless, but it can be managed far better with early advice. Early advice almost always means more options and less personal risk overall.

How the introduction works

Tell us what is happening

You tell us briefly what is happening with the company. Free, confidential and no obligation.

We match your enquiry

We match you by situation and location, and pass your details only to the one expert we introduce you to. We do not sell your data.

You get a free, no-obligation call

A straight assessment of your options, including the times you may not need a formal procedure at all. Whether you go further is entirely your decision.

The kind of expert you are matched to

Turnaround adviser For a viable business under pressure: renegotiating with creditors, raising finance, cutting costs, or formal rescue routes such as a CVA or administration.

Tax specialist For VAT, PAYE and Corporation Tax arrears: proposing a realistic Time to Pay arrangement HMRC will accept, and dealing with HMRC enforcement.

Licensed Insolvency Practitioner The only person who can legally act as a liquidator or administrator. Authorised by a recognised professional body and listed on the Insolvency Service register.

Full detail in how we match you, our editorial standards and experts and how we are funded.

Questions directors ask us

Will I lose my house if my company goes under?

Not because of the insolvency itself. Company debts belong to the company. Your home is only at risk if you gave a personal guarantee secured on it, or owe the company money personally through an overdrawn loan account. An office holder can also, in some circumstances, pursue a director personally for actions such as misfeasance, or seek their bankruptcy, which can put personal assets including the home at risk. Take advice before assuming the worst.

What happens if my company cannot pay HMRC?

Engage early. HMRC often agrees a Time to Pay arrangement over up to 12 months if it is realistic. Ignoring HMRC leads to enforcement and ultimately a winding-up petition.

I have a winding-up petition, what do I do?

Treat it as urgent. You usually have a short window before the bank account is frozen and the hearing. Get advice the day you are served. See winding-up petitions and our timeline tool.

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One introduction, your decision

Free, confidential and non-judgemental. You stay in control: we share your details only with the one expert we match you to, and whether you go on to instruct them is entirely your decision.

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This page was reviewed for accuracy by Jessica Barker, Insolvency Practitioner, Xeinadin Corporate Recovery (IP No. 32050, ICAEW).