Where do i begin ?

willsandmillie

Hello could someone help me out, i have a business but it brought no work in last year and i want to know how to close it down but i have debts to the VAT and TAX that i cannot pay and i have people who owe me money that would pay my debts off but they will not pay me. Where do i start and will i be able to get any benefits at any point as i cannot work at the moment as i have to go in for an operation on my shoulder soon ?

Tixy

Hi and welcome

Is your business incorporated (limited company) or unincorporated?

If unincorporated do you have personal assets? a house?

Have you taken any legal action to try to get the money from your debtors?

willsandmillie

Sole trader its my partners house and i let loose a Debt Collection Agency but they had no luck and there are no finances to start legal proceedings. I had three companies that owed me, took one to court and won but the other strung me along and now they refuse to talk to me.

Tixy

If you are a sole trader then I think the only option with regards to the government debts (if you cannot pay or come to an arrangement to pay) might well be bankruptcy.

You will need professional advice though - do you have an accountant? or you might want to try businessdebtline for advice.

willsandmillie

Accountant has gone into Hypnotherapy, but i will try businessdebtline for advise Thank You