If your business is in financial difficulty get proper accounting and legal advice, to increase the likelihood of business survival.
Some warning signs of insolvency are:
- • Ongoing losses
- • Poor cash flow
- • Incomplete financial records
- • Increasing debt
- • Problems selling stock or collecting debts
- • Unrecoverable loans
- • Creditor’s unpaid or paid outside of trading terms
- • Solicitor’s letters, demands, summonses, judgements etc. Suppliers placing your company on C.O.D. terms
- • Overdraft limit reached or defaults on loans repayments
- • Problems obtaining finance
- • Overdue taxes and superannuation obligations
Make sure you can substantiate ALL of your tax deduction claims.
Please contact me if you need assistance.