Company based in West MidlandsThis company was appointed after HMRC advised the file was being passed to their solicitors to issue a winding up petition (WUP), due to a large outstanding debt.
HMRC refused KSA’s request to suspend action explaining that it was too late to pull back, however KSA constructed a CVA as soon as possible while awaiting for the WUP to be served.
The winding up petition was served on the company and advertised in the Gazette. Luckily the company's bank account was NOT frozen, as there was a positive balance allowing the company to access the account.
The CVA was filed at court and the company was introduced to solicitors and barristers, LexLaw, who assisted with the request to adjourn the hearing. Fortunately, HMRC had no objections to the adjournment and they supported the CVA.