- Your overdraft is always at the limit and the Bank will not increase it.
- Your Bank is returning cheques.
- Personal guarantees or other security is being demanded by your Bank.
Statutory filing requirements
- Failure to file Annual Returns.
- Failure to file accounts at Companies House in time to avoid penalties.
- Failure to file timely Returns with HM Revenue and Customs in order to avoid penalties.
- Difficulty in paying VAT, PAYE/NIC Liabilities and trade creditors on time due to tight cash flow.
- New suppliers will only trade on pro
- forma basis.
- Warning letters or Court proceedings being received.
- Visits by Sheriff’s Officer or Bailiffs.
- Large or frequent bad debts being incurred.
- Failure by customers to pay on time.
- No dedicated credit control management.
- No clear strategy for the future.
- Fire fighting instead of concentrating on daily
- Lack of management time to consider important issues.
If a combination of the above signs are being experienced by you or your business then it is time to seek objective, impartial advice and discuss the solutions available as soon as possible.