Unfortunately, when a company is struggling to keep up with its day to day obligations, often payment obligations to the IRD can escalate.
In this video, Brent Norling discusses the options a debtor has if they are not currently fulfilling their obligations to the IRD.
If your business has a large amount outstanding to the IRD, there really are only two options. Either you be proactive to resolve the matter or you look to liquidate. If the business is worth saving there are options that can be taken, but only if you are willing to have the hard conversations to do so.
Sitting on your debts and hoping they will sort themselves out is not a strategy.
Here we discuss these strategies.
If you find yourself in this situation and are ready to have the hard conversation, we offer a FREE 30-minute legal consult. Get in touch if you need help: