Help for Directors

All businesses face the occasional financial crisis but when they become a critical problem you need to know exactly where you stand. In our help for directors section, you will find specific information for answering your questions around if you are insolvent, what you need to do if you are and how it will affect you.

Creditors Voluntary Liquidation

What is known as Creditors Voluntary Liquidation is the process that most businesses must go through if they are insolvent. It can be a difficult time for everyone involved, so we have created this special section of our site to give you the important facts about CVLs in a clear and down to earth way so you can see where you stand.

Members Voluntary Liquidation

This is when your company is still solvent, but you (and your fellow directors) decide it is time to call it a day and retire or move on to the next stage of your lives.  With an MVL, you will release the assets and use these funds to pay off the creditors before returning the remaining funds to the shareholders.

Insolvency, Liquidation or Recovery

Is your business in trouble?

Whether you have an urgent financial issue, need a plan to deal with growth, or you simply want an exit strategy, we're here to help.
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Help for Directors

If you are reading this then chances are that you are asking yourself a few questions, the most common being 'is my business insolvent?'…

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Creditors Voluntary Liquidation

A CVL is the most common type of insolvency process in England and Wales. When people talk about a company ‘going bust’ or similar a CVL is usually what they mean…

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Members Voluntary Liquidation

This is when your company is solvent, but you and your fellow directors wish to cease trading and wind up the company. It works by realising all the assets...

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Is your business struggling to survive?  Do you fear you’re close to insolvency?  Is liquidation the only answer?

Or are your personal finances close to the edge?  Are you afraid that bankruptcy is just around the corner?

Are you worried about tax?  Do you owe money to HMRC?  Do these worries keep you awake at night?

If the answer to these questions is ‘yes’ or even ‘maybe’, then Smart Business Recovery is perfectly placed to give you the help and support you need.

How we can Help

We genuinely understand how stressful and worrying critical businesses situations can be.  We know you don’t need to be molly-coddled.  You need support and advice that’s clear and straightforward.  But you also need an empathetic approach.  Dealing with a business crisis is a heavy burden to bear.  We see our role to ease the pressure of that burden - making sure that all processes are carried out as smoothly, swiftly and with the minimum of stress to you and your colleagues, partners or employees.

Our services

Business Insolvency: Clear, straightforward guidance and support.  Using our skill and experience to point you along the right path.

Personal Insolvency: Supporting you with empathy and clarity through difficult personal financial circumstances.

Partnership Insolvency: Supporting you and your partners through the tough decisions that come with insolvency.

Business Advice: Using our years of experience to advise you with issues concerning Re-structuring, Re-financing, Debt Collection and Exit Strategies.

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How we work

We’ve been working in the insolvency and recovery sector since 1990.  But our experience doesn’t only cover the complex financial elements of insolvency, liquidation and recovery.  We also understand people.  We have a close empathy with the distress and unhappiness that accompanies financial crises - whether business or personal.  Read more about our Three Pillars of Principle 

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Latest Blog

Personal guarantees can be a problem when a business becomes insolvent, and directors are often concerned about their liability. When businesses are in the start-up phase or looking to expand and grow, it isn’t uncommon for directors to sign off on a personal guarantee. While this may not be unusual it’s important to know what that could mean later.

Personal guarantees can be a problem when a business becomes insolvent, and directors are often concerned about their liability. When businesses are in the ... more

Useful Links

The following are useful links to various professional bodies/associations; The Institute of Chartered Accountants in England & Wales. ICAEW ... more

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Find out more about our insolvency, liquidation or recovery service.  Learn how we can support you with clear, straightforward and empathetic guidance and support.

Call us on 0116 2967507 (Leicester), 01926 969000 (Warwick), 02476 0179639 (Coventry) or 01604 263179 (Northampton), or email us on