When the financial recession started to bite hard in 2009 there was a huge increase in the number of time to pay arrangements entered into with HMRC.
Whilst many companies used this to get through tricky times, many others used it to mask a failing businesses.
With the recent increase in the level of time to pay arrangements refused, there could be a significant increase in business failures over the next few months.
If your business is struggling financially don’t leave it too late to act, speak to an accountant who has experience in helping struggling businesses. Prompt attention and some relatively small changes could help you to stay afloat and plan for a brighter future.