Thursday, December 12, 2013

News: Christmas message from Moorhead Savage

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Rotherham insolvency expert, Paul Moorhead, always finds that the festive season is one of his busiest periods.

Paul, who founded the insolvency practice four years ago and is Britain's only insolvency practitioner with a PhD in Insolvency Law, was this year named the industry's Corporate Insolvency Practitioner of the Year.

"With January seeing the end of the tax year many people are still working on their tax returns and fearing that they won’t be able to pay their tax bill – and that's when they might need our help," he explained.

"Businesses that have a seasonal downturn through the winter are far more at risk of getting into difficulties at this time of year too so we usually see an increase in enquiries from people who perhaps have cash flow problems through the Christmas slow down, that time when they are paying wages for what can be quite a long break but not bringing in much cash.

"It doesn't help that some companies also use the holiday as an excuse not to pay people on time, which can have an added impact on an organisation already struggling with a cash flow problem.

"But don't let a Christmas cash flow crisis become a New Year disaster - the quicker you seek a solution to the problem the more likely there is to be a successful outcome."

Based in RiDO's Moorgate Crofts business centre, Moorhead Savage offers high quality, professional, impartial and ethical help and debt advice to both companies and individuals.

Moorhead Savage website

Images: Moorhead Savage

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