Professional Advisors

Professional Advisor Services - Helping Businesses When They Need It.

 

If you are an accountant, solicitor, business coach or financial advisor, and your client asks you for advice on something outside of your professional area, how do you help?

If it is in an area such as:

·       Closing a solvent business, perhaps because the directors want to retire (an MVL)

·       Corporate Insolvency and Personal Insolvency  related issues (including HMRC arrears)

·       Restructuring to avoid financial issues

·       Advising on redundancy processes

·       Debt collection and credit control

Perhaps our free initial meeting and other services could provide the answers they need, so you don’t need to turn them away or spend unnecessary time and effort dealing with the matters yourself.

 

It’s about more than insolvency

To be clear. We are not here to simply close a business. In fact, we only advise the insolvency or bankruptcy route if it is either unavoidable, a legal requirement, or the best available course of action to limit clearly unresolvable problems. If there is an option to save that company, a workable plan to make it viable again and to turn things around so that the business becomes a going concern, then we will always look to make that happen.

A business is more than a money-making enterprise. It is also jobs and security for the employees and directors.

That is why we will always try to save a business where we can.

However, the sad fact is that, in our experience, directors and individuals do not ask for help until the last minute. That delay usually reduces the options and makes saving the business much less likely. The sooner problems are identified, the better, so please encourage your clients to seek help as soon as the need arises.   

 

Who we work with

We are not accountants or solicitors. Neither are we financial advisors or business coaches. We do, however, often work with them to help their clients in areas where our specialism is required. Think of us as your business recovery and insolvency department, only without the cost of running one. 

How much, or how little, you are involved with the process that follows our meeting with your client depends on the circumstances.

Let’s look at some common scenarios:

A client visits their accountant looking to retire and close a solvent business.

While you, as the accountant for the business, deal with the final accounts for a members' voluntary liquidation (MVL) as well as the tax situation, and so forth, we can be there for your client to help with the legal requirements of the liquidation itself. We will ensure that the company has taken all necessary steps to practically close the business and avoid any issues down the line.

We make sure the relevant paperwork is done, meetings held, sort out creditor claims, deal with asset questions, and all the other legal processes around the members' voluntary liquidation.

As a result, the process is handled throughout by specialists who are focused on their own areas. We will work with you and the client throughout, and therefore the MVL will happen as quickly, efficiently and smoothly as possible for everyone involved.

We have a lot of advice on the process of Members' Voluntary Liquidations here, including a free download.

Unless there are some very unusual circumstances, we will usually do all this on a fixed fee basis for your client. We are always transparent as to the costs and fully explain the process.

 

When a charity or 3rd sector organisation needs help.

Charities, CICs, Social Clubs, CIOs and similar will sometimes reach out for legal advice when they have financial issues. While the legal professional can certainly advise on the legal position, when it comes to the possibility of insolvency, it is simply not in their remit. We are happy to advise, and we specialise in 3rd sector insolvencies if that is what is needed.

We will initially assess the financial situation and, as always, look to save the organisation if we can. If not, then we are there to deal with the process of insolvency.

The starting point is probably to direct your client to our specialist pages or simply point them towards our free initial consultation.

Again, we are not here to just close the charity. The effort made by our third sector organisations deserves nothing but respect, and the work they do is invaluable to their communities and the country. Therefore, where we can, we look to save the operation so they can continue to help those who need it. Where that isn’t possible, we will treat the closure with empathy and understanding.

 

Finance brokers, IFAs and Business Coaches sometimes see financial problems

When a company is looking to arrange finance for the wrong reasons or when the numbers simply do not add up, it can be a red flag. When that happens, for an IFA or broker, there is simply no ethical way to progress with finance. For a business coach, it often means it is time to look for highly specialised additional advice. By asking your client to contact us or sending them to our business survival guides and help for directors pages, you are potentially offering them a chance to recover. If we can help them turn the business around and make it viable, then they will return to you later as a healthy, more viable option. If not, then at least you sent them to see someone who will be able to help. 

 

Sometimes, Insolvency is the only option

As mentioned above, sometimes directors leave it to the last moment before taking advice, and it can’t be saved. Sometimes, there is just no option but to accept that a business simply isn’t viable anymore. Whatever causes the problem, sometimes insolvency is the only viable option. In these circumstances, we will explain what steps need to be taken. We will also work to explain the issues that the directors may face, whether that is an overdrawn director’s loan account, perhaps taking illegal dividends, or potential personal guarantee issues.

We also understand that directors will be concerned about their staff, so we will assist with any claims that they have via the redundancy service.  

 

Why we offer business recovery and insolvency services

The above is just some of the ways we often help businesses that reach out to other professionals for help first. To be frank, we are rather proud of the help we offer and the support we can give other professionals.

In the past, we have helped accountants, solicitors, IFAs, finance brokers, business coaches and many others resolve problems for their clients.

Take a look at what people say about us here.

 

In the end, it is all about helping in the right way

Nobody wants to turn away someone in need. The reason we make these connections with other professionals is so that you have somewhere to send a client in need. A place where that client can access the help you cannot professionally give, or you simply don’t have the time and resources to offer. By sending them to our free advice, you can advise them on a potential source of information with as much ongoing commitment as suits you.

In short, professional services from Smart Business Recovery are a source of help and advice that you can give to your client in a matter of seconds, saving you and them a lot of time trying to find suitable solutions.