Frequenly Asked Questions
We can set up agreements with HMRC for all tax and also any trade creditors that you may have debt with.
It depends on how quickly you can provide us with the information. But the sooner we can talk to any crediotrs on your behalf the more liekly we are to hold off any legal action for you whilst we negotiate a deal.
Technically all of them, although be aware that any secured debts are less likely to agree to a TTP or may only agree to short payment terms.
Usually there is no impact, although occasionally some Creditors will register a default for their individual debt. This is extremely rare and usually only banks/financial institutions.
You can have as many as your Creditors will agree to and that you can afford to pay.
It really depends on how many creditors you need a TTP for and how much debt, but the cost will normally be lower than HMRC fines and Penalties or lawyers to defend a Winding up order. It also saves you the time and stress of having to deal with negotiating with creditors, allowing you time to focus on the business. We can give you a price once we understand your needs.
Only in exceptional circumstances involving very large individual debts with Creditors. Often at this point it is more advantageous to go into a CVA/CVL
This can usually be dealt with informally if you give us enough notice and allow us to speak to the Creditors BEFORE you default. Repeated defaults mean a failure of the TTP.
Yes a TTP is informal and usually has no impact on obtaining credit.
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