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A good Revenue record is seen as vital for any hope if tax debt is in the mix
Companies are not aware of how well the Scarp scheme has been structured,’ says Michael Nolan, CEO of SocioLocal. Photo: Steve Humphreys
“We wouldn’t be here if it wasn’t for Scarp,” says Michael Nolan, the chief executive of SocioLocal, a social media agency working with the hospitality sector.
Decimated “pretty much overnight” by Covid, it emerged from the pandemic crippled by interest payments and weighed down with debt. In another era, it might have folded, but instead Mr Nolan was saved by the Small Company Administrative Rescue Process (Scarp).
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