Director First Podcast with Chris Worden

Chris Worden

Director First Podcast: Empowering UK Business Owners Hosted by experts who’ve guided countless directors through the toughest times, this podcast breaks down everything you need to know about insolvency, company restructuring, and director responsibilities—without the jargon. Each episode, we tackle real issues facing UK business owners, from dealing with HMRC pressure to navigating liquidation and bouncing back stronger. Plus, we invite top entrepreneurs, insolvency professionals, and financial experts to share their stories and strategies for surviving and thriving when business gets tough

  1. 1d ago

    Scared to Call HMRC? Watch This First

    If your company owes HMRC money, the decisions you make in the first few weeks can determine whether your business recovers—or faces enforcement action and possible insolvency.In this practical guide, Chris Worden explains how directors should deal with HMRC at every stage of the process, from the first missed tax payment through to negotiating with HMRC and avoiding the mistakes that can make matters significantly worse.Discover:• What to do the moment you realise you can't pay an upcoming tax bill• Why delaying contact with HMRC increases interest, penalties, and enforcement risk• The first three steps every director should take before speaking to HMRC• How to prepare accurate cash flow forecasts and understand your true tax position• Why contacting HMRC early can dramatically improve your options• What HMRC actually wants when dealing with struggling businesses• How to present a realistic repayment proposal that HMRC is more likely to accept• Why threatening HMRC or making unrealistic promises often backfires• How to build a strong commercial case for a Time to Pay Arrangement• What directors can learn from real-life negotiations with HMRC• The biggest mistakes businesses make after a Time to Pay Arrangement is approved• Why ongoing VAT, PAYE, and Corporation Tax payments must remain up to date• How to ring-fence tax money and improve cash flow management• Why failing a Time to Pay Arrangement can leave you in a much worse position• The difference between a temporary cash flow problem and a business viability problem• When HMRC debt is the real issue—and when it's simply a symptom of deeper financial problems• Why seeking insolvency advice early can preserve more options for your business• How to recognise when restructuring may be a better solution than another payment arrangementIf your company is facing HMRC arrears, VAT debt, PAYE liabilities, Corporation Tax debt, creditor pressure, cash flow problems, or the risk of insolvency, this video explains how to approach HMRC correctly, avoid costly mistakes, and give your business the best chance of recovery.Book now for a free business insolvency checkCall 08000862766

    14 min

  2. 5d ago

    How to Get a HMRC Payment Plan Approved

    If your company owes HMRC money and you can't pay it in full, a Time to Pay Arrangement could help you spread your tax debt over time—but only if you approach HMRC the right way.In this practical guide, Chris Worden explains how Time to Pay Arrangements work, why so many directors get rejected, and the steps you should take before speaking to HMRC to maximise your chances of reaching an agreement.Discover:• What a Time to Pay Arrangement is and when HMRC may approve one• Why negotiating with HMRC without knowing your numbers is a costly mistake• How to calculate what your business can realistically afford to repay• Why offering HMRC more than you can sustain often leads to failure• The importance of preparing an accurate cash flow forecast before negotiations• Why all VAT, PAYE, and Corporation Tax returns must be filed before applying• How unfiled tax returns can prevent HMRC from considering your proposal• Why HMRC estimated assessments can increase your tax debt unnecessarily• How to build a strong business case that improves your chances of approval• What HMRC looks for when deciding whether to accept a payment proposal• Why honesty, evidence, and realistic repayment figures matter• The biggest mistakes directors make when setting up a Time to Pay Arrangement• Why missing future tax payments can immediately cancel your agreement• How to manage ongoing VAT, PAYE, and Corporation Tax while repaying historic arrears• Practical cash flow strategies that help keep your repayment plan on track• How ring-fencing tax money can prevent future HMRC problems• The difference between a temporary cash flow problem and a business that's no longer viable• When a Time to Pay Arrangement can save your business—and when it can't• Why seeking professional advice early gives you more options and better outcomesIf your company is facing HMRC arrears, VAT debt, PAYE liabilities, Corporation Tax debt, creditor pressure, cash flow problems, or the risk of insolvency, this video will help you understand how to approach HMRC correctly and avoid the mistakes that cause many Time to Pay Arrangements to fail.Book now for a free business insolvency checkCall 08000862766

    20 min

  3. Jun 26

    Why Is HMRC So Aggressive in 2026?

    Many directors feel like HMRC has become far more aggressive in recent years. They're quicker to chase debts, faster to escalate enforcement action, and much harder to negotiate with than they were in the past. The truth is, this isn't a coincidence. In this practical guide, Chris Worden explains why HMRC's approach has changed, the forces driving their behaviour, and what directors need to do differently to avoid serious problems with tax arrears, enforcement action, and personal liability. Discover: • Why HMRC has been instructed to become more aggressive in collecting unpaid taxes • What the UK's tax gap is and why closing it has become a government priority • Why small and medium-sized businesses are now a major focus for HMRC • How HMRC's resources, technology, and enforcement powers have expanded • What HMRC's Connect system is and how it gathers information about businesses • How data from Companies House, banks, property records, and digital platforms is used • Why HMRC can identify discrepancies faster than ever before • What HMRC "nudge letters" are and why they should never be ignored • Why the old strategy of delaying, avoiding, or hiding from HMRC no longer works • How digital reporting has changed the way HMRC investigates businesses • What the Phoenixism Task Force is and why directors should be aware of it • How HMRC identifies directors who repeatedly leave tax debts behind • What Joint and Several Liability Notices (JSLNs) are and how they can create personal liability • Why unpaid VAT, PAYE, and other tax debts can sometimes follow directors personally • How HMRC analyses patterns across multiple companies and insolvencies • The risks of closing one company and starting another without proper advice • Why transparency, valuations, and proper safeguards matter when restructuring a business • The importance of engaging with HMRC early when financial difficulties arise • Why filing tax returns on time is critical, even if you cannot pay immediately • How realistic payment proposals can improve your chances of reaching an agreement • The common mistakes directors make when dealing with HMRC arrears • Practical steps to reduce enforcement risks and protect your business If your company is facing HMRC arrears, VAT debt, PAYE liabilities, creditor pressure, cash flow problems, or the risk of insolvency, this video will help you understand why HMRC's approach has changed and what you can do to stay ahead of potential enforcement action. Book now for a free business insolvency check Call 08000862766

    11 min

  4. Jun 22

    How Does Pre-Pack Administration Work?

    A pre-pack administration is often misunderstood. Many directors hear that a business can be moved into a new company while leaving historic debts behind and immediately assume it sounds too good to be true. The reality is far more complex. In this practical guide, Chris Worden explains exactly how pre-pack administrations work, when they can save a business, and the common misconceptions that can leave directors facing serious personal consequences if they get it wrong. Discover: • What a pre-pack administration actually is and how the process works • Why a pre-pack is designed to rescue a viable business, not avoid debts • How a pre-pack can preserve jobs, contracts, customers, and business value • When a pre-pack administration is the right solution for an insolvent company • Why moving a failing business into a new company can create bigger problems • The risks of phoenixism and why HMRC is paying close attention • How administration creates a legal moratorium that stops creditor pressure • Why winding-up petitions and enforcement action can be frozen during administration • The importance of independent valuations and fair market value • The safeguards that make a pre-pack legitimate and protect directors • How undervalue transactions can lead to personal liability and director disqualification • What happens to employees under TUPE regulations • How contracts and customer relationships can survive the process • What happens to HMRC debt, CBILS loans, Bounce Back Loans, and other unsecured debts • Why personal guarantees usually survive a pre-pack administration • How overdrawn director's loan accounts can still be pursued after the business is sold • Practical ways to negotiate personal guarantees and director's loan account liabilities • The warning signs that a pre-pack administration may not be the right option • The key questions every director should ask before considering a business rescue strategy If your company is facing creditor pressure, HMRC arrears, cash flow problems, mounting debts, a winding-up petition, or the risk of insolvency, this video will help you understand whether a pre-pack administration could be the right solution and what risks you need to be aware of before proceeding. Book now for a free business insolvency check Call 08000862766

    25 min

  5. Jun 19

    More Updates From HMRC

    HMRC has introduced major changes that many directors still don't fully understand. From higher interest charges on unpaid tax to tougher penalties for late filing and payment, the cost of falling behind with HMRC is rising faster than ever. At the same time, HMRC now has access to more financial information than most directors realise, making it easier to identify undeclared income and discrepancies. In this video, Chris Worden explains the latest HMRC changes, how they affect company directors, and the practical steps you can take to avoid costly mistakes. Discover: • Why HMRC debt now grows faster than it did in previous years • How changes to HMRC interest rates increase the cost of unpaid tax • Why delaying action on tax arrears can become significantly more expensive • How the new late filing penalty points system works • When HMRC issues £200 fines for repeated late submissions • The new penalties for late VAT payments and how they escalate over time • Why filing tax returns on time remains essential, even if you cannot pay • How interest, penalties, and surcharges can quickly increase business debt • The common mistakes directors make when facing HMRC pressure • How HMRC receives information directly from online platforms and marketplaces • Why directors are receiving HMRC "nudge letters" about undeclared income • How HMRC cross-checks financial information against submitted returns • What to do if you receive a letter from HMRC about undeclared earnings • Why Time to Pay arrangements are becoming harder to secure • What HMRC now expects before approving a payment arrangement • The mistakes that can cause a Time to Pay agreement to be cancelled • How to prepare a realistic proposal that HMRC is more likely to accept • Why seeking professional advice early can save significant money and stress If your company is struggling with HMRC arrears, VAT debt, corporation tax liabilities, cash flow pressure, or creditor concerns, this video will help you understand the latest changes and protect your business from unnecessary costs. Book now for a free business insolvency check Call 08000862766

    14 min

  6. Jun 15

    How To Close A Ltd Company Using Liquidation

    For many directors, liquidation feels like the end of the road. In reality, when handled correctly, liquidation can be a structured process that protects directors, deals with company debts properly, and creates an opportunity for a genuine fresh start. In this practical guide, Chris Worden explains how creditor's voluntary liquidation (CVL) works, the common mistakes directors make during insolvency, and what steps you should take before closing an insolvent company. Discover: • The two key tests that determine whether a company is insolvent • How to decide whether your business can be rescued or whether liquidation is the best option • Why delaying action can increase risks for both directors and creditors • The importance of seeking professional advice before making major decisions • Common director mistakes that create personal liability after liquidation • How overdrawn director's loan accounts can survive company closure • Why personal guarantees remain enforceable after liquidation • The hidden risks that many directors only discover after appointing a liquidator • What insolvency practitioners look for during their investigations • The documents and information required to begin a liquidation • How creditor's voluntary liquidation (CVL) actually works from start to finish • Why honesty and preparation can make the process significantly smoother • The legal way directors can buy business assets back after liquidation • The difference between a legitimate business rescue and unlawful phoenix activity • How directors can preserve valuable assets, equipment, and customer relationships • What happens after a liquidator is appointed • Why many directors experience relief once the process is properly underway If your company is struggling with HMRC arrears, creditor pressure, cash flow difficulties, mounting debt, or insolvency concerns, this video will help you understand your options and make informed decisions about the future of your business. Book now for a free business insolvency check Call 08000862766

    29 min

  7. Jun 12

    HMRC Is After You In 2026

    Most company directors still believe that a limited company fully protects them from personal liability. That assumption could be a costly mistake. In this video, Chris Worden reveals how HMRC's powers have expanded in recent years and why directors need to understand the growing risks around unpaid tax, insolvency, and personal liability. Learn: • How HMRC's approach to company tax debt collection has changed • Why limited liability may not provide the protection many directors assume it does • The growing focus on abusive phoenix companies and repeated insolvencies • How HMRC and the Insolvency Service work together to investigate directors • What a Joint and Several Liability Notice (JSL) is and how it could affect you personally • The situations where directors can become personally liable for company tax debts • Why repeated company failures can attract increased scrutiny from HMRC • The importance of handling insolvency correctly when attempting a business rescue • How Crown Preference changed the order in which creditors get paid • Why VAT, PAYE, and National Insurance arrears now receive special treatment • Common misconceptions directors have about tax debts and insolvency • The risks of ignoring warning signs until it's too late • Why understanding your true financial position is critical before making major decisions • The simple step every director should take to identify potential risks before they escalate If your business is facing HMRC pressure, tax arrears, cash flow difficulties, creditor demands, or concerns about insolvency, this video explains the key rules you need to understand and the practical actions you can take to protect yourself and your company. Book now for a free business insolvency check Call 08000862766

    16 min

  8. Jun 8

    How To Fix Your Struggling Business

    Most directors think the solution to a struggling business is simple: work harder, win more sales, and keep pushing forward.The reality is often very different.In this practical guide, Chris Worden explains the key mistakes directors make when trying to rescue a struggling business — mistakes that can drain cash, increase losses, damage creditor relationships, and push an otherwise viable company closer to insolvency.Discover:• Why many directors try to solve the wrong problem and waste months heading in the wrong direction• The importance of understanding your numbers before making major decisions• How to identify whether you have a cash flow problem or a profitability problem• Why the cure for one can make the other significantly worse• The hidden dangers of borrowing money to support an unprofitable business• Why chasing more sales can sometimes accelerate business failure• How poor pricing and weak margins quietly destroy otherwise busy companies• The difference between costs that drain cash and costs that generate revenue• Why cutting marketing, sales, or key staff can make a struggling business decline faster• Practical ways to reduce costs without damaging future growth• How early communication with creditors can create breathing space and prevent enforcement action• Why honesty and realistic repayment proposals often produce better outcomes• The common mistake of hiding from creditors until it's too late• When a business can be fixed and when restructuring may be the better option• The single most important question every struggling director must answer honestly• Why asking difficult questions early gives you more options and greater control over the outcomeIf your company is struggling with cash flow problems, declining profits, creditor pressure, HMRC arrears, mounting debt, or the risk of insolvency, this video will help you understand what is really causing the problem and the practical steps you can take to improve your position.Book now for a free business insolvency checkCall 08000862766

    22 min
See All (393)

About

Director First Podcast: Empowering UK Business Owners Hosted by experts who’ve guided countless directors through the toughest times, this podcast breaks down everything you need to know about insolvency, company restructuring, and director responsibilities—without the jargon. Each episode, we tackle real issues facing UK business owners, from dealing with HMRC pressure to navigating liquidation and bouncing back stronger. Plus, we invite top entrepreneurs, insolvency professionals, and financial experts to share their stories and strategies for surviving and thriving when business gets tough

Information