CPD Hours: 1
Recorded 30th June 2021.
The Small Company Administrative Rescue Process (SCARP) seeks to mirror key elements of examinership in an administrative context thereby reducing court oversight resulting in efficiencies and lower comparable costs.
Examining such steps as some of the following:
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Implementing a “pay freeze” in respect of certain creditors
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Implementing a redundancy programme
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Surrendering leases to landlords
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Obtain valuations of buildings, plant & machinery
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Bring management accounts up to date
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Submit all tax returns. In particular, ensure that you have adjusted your VAT returns if you have not paid a supplier within the required 6 months
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