Tax Arrears Solutions

In these difficult and challenging times, even the best finance manager may struggle to meet all obligations on specified terms. Average payment terms to trade suppliers will lengthen and the ability to make payments to the Revenue Commissioners for VAT and PAYE/PRSI on time can also slip.
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Tax Arrears Solutions takes a hands-on approach to helping companies facing financial uncertainties. We will take the time to review working capital management by working with management and their advisors and devise solutions to improve cash flow.

Tax Arrears Solutions is a central component in our cash planning service.

We recognize the importance of communicating with all creditors but the Revenue Commissioners, in particular, warrant close attention as they have access to a range of recovery processes including attachment orders, judgements and winding-up petitions that can undermine any turnaround initiative. In our opinion an immediate and proactive stance needs to be adopted to prevent a chain of events from escalating to the point where directors lose control.

Kroll has assembled one of the leading national teams who are dedicated to assisting businesses with tax arrears to secure realistic and achievable repayment plans. We have a proven methodology and strong track record in obtaining time to pay arrangements. We also take the time to ensure management's strategy is appropriate and adequate in facing all the challenges ahead, that second opinion can be very valuable.

Our service is recognized by the main financial institutions and professional advisors who regularly engage our services on behalf of their clients.

In situations where negotiations between directors and Revenue Commissioners have reached an impasse, an independent and third party viewpoint as provided by Kroll may often be welcomed by all parties and result in reaching an agreeable solution.

Who Are Our Customers?

  • Businesses with trading issues and existing tax arrears or those who can foresee difficulties in meeting obligations in the immediate future
  • Funders with customers who are in arrears and who have been requested to provide additional funds to meet these obligations
  • Professional advisors seeking to add real value and therefore cut attrition rates for their clients with tax arrears

What Services Do We Provide?

  • Liaise and negotiate with the Revenue Commissioners
  • Ensure that all proposed time to pay arrangements are realistic and achievable and delivered promptly according to Revenue Commissioner’s deadlines and timescales
  • Provide an independent and expert assessment on a business’s viability and the adequacy of its strategy in meeting on-going challenges
  • Assist in cash flow and creditor management, both in short-term and long-term forecasting

Why Choose This Service?

  • Experience is required to construct and present a sensible arrangement with many practical issues to consider and many potential pitfalls to avoid - these insights may make the difference between restoring goodwill and confidence with the Revenue Commissioners or adding to an otherwise already difficult relationship that may ultimately lead to winding up petitions
  • Our substantial experience in this specific area, combined with our turnaround and refinancing skills, enables us to quickly assess a situation and provide clear advice and realistic solutions
Stay Ahead with Kroll

Corporate Restructuring

At Kroll, we are committed to turning ailing businesses around.

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Kroll's Business Advisory team aims to help directors, lenders and stakeholders maximize value by providing hands-on practical turnaround guidance and support.

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Kroll Debt Advisory works in partnership with corporate clients and their stakeholders to ensure the most effective and appropriate funding solutions are in place. We aim to become the 'trusted advisor' to clients and lenders alike.


Examinerships

Examinerships are a key option for businesses that are under pressure due to their overall liabilities, whether to banks, the Revenue Commissioners or general creditors. They allow the company to explore all possibilities for survival.

Schemes of Arrangement

In an ideal scenario, businesses can reorganize themselves through voluntary agreements and re-negotiations with creditors. When this is not possible, schemes of arrangements can be used as an independent process to maintain business and continue trading.

Insolvency Services

At Kroll, we believe relationships are an extremely important element in achieving a successful outcome to a receivership. We respond to our clients’ organizational style and we understand the commercial challenges that they face.