The 1st December 2020 will see HMRC regain its preferential status as a secured creditor which means many SMEs /owner managed businesses should be looking at how best to protect their assets and investments in the unfortunate event that their business is unable to continue to trade.
Having a fixed charge debenture secured against specific investments and assets will give priority protection ahead of HMRC. Many businesses are already considering Invoice Finance as a highly appropriate method of ring fencing and safeguarding their core asset, namely their debts (outstanding invoices). Very often these represent a business’ single biggest asset on its balance sheet.
Speaking to a commercially supportive and sympathetic funder such as Advantedge will give your business a welcome peace of mind during these uncertain times and allow you to plan effectively and considerately this side of Christmas and into the New Year.