Welcome to TG News – we hope that you find our Blog News Channel interesting, informative and a temptation to collaborate.
This is not where you will find the general insolvency news, that’s in our SME News section. This is where you will find tidbits of breaking news that is released as it breaks – and not all of it relevant to the Insolvency Industry!
by , 08/07/2013 | Permalink | Email this
Testimonials and feedback from past clients that have used our services: "Our business was faced with a difficult situation that became out of the control due to short timeframes - Through TaxGone we were able to enter into an arrangement, fully resolve the dispute and protect a significant proportion of the creditor balances." Maintenance Firm - Ipswich "After being almost shafted by "BT" not the telecoms BT, it was a pleasant surprise to deal with you and your staff." Engineering Firm - Bury "The advice and service I received was excellent, and very reassuring, at a very stressful time." Taxi Firm - Leicestershire "Your service for my voluntary liquidation was excellent. It is a highly stressful and confusing process to go through. Your staff were considerate and patient. They explained the process carefully and it was the first time in over a year that I fully understood it." Website Production Company - Leeds "Incredible people, incredible service, sometimes CVA may be your best choice." Textile Firm - Manchester "Alan was very helpful and both business like and friendly." Clothing Firm - Surrey "Very friendly company and quite happy" Furniture Company - London "TaxGone offer not just a professional service, but go above and beyond what is required by their clients, to make you feel there is light at the end of the tunnel no matter how bleak things seem." Building Company - Hampshire "The representative who highlighted the problem in the first instance then proceeded to offer valuable advice in relation to resolving the matter in the most efficient and cost effective manner." Waste Management Company - Liverpool "Tax Office DM: They are really helpful and supportive on personal level." General Store - London "I was advised by Alan of TaxGone with regards to how to deal with a winding up petition; the advice that I received was excellent. I would have no problem whatsoever returning to TaxGone for any future advice." Building Company - Derbyshire "I think the service I received from Alan was very good and I think you have a very valued member of staff on your team. I would recommend your service to anyone." Support Services - Birmingham "The Company Voluntary Arrangement allowed us to draw the line and start again, but with more knowledge from past experience. The banks gave me a little hassle but that was because they don't have a lot of info on what to do with a CVA client. I stuck it out and argued the case and they got there in the end. 2 months after the CVA we now have calm and carrying on with business." Security Company - Wiltshire "When help was needed the company contacted 3 similar solution providers, but on closer inspection only TaxGone were able to give straightforward answers in the available time frame and then steer us to the best solution without pressure." Building Company - Yorkshire "Many thanks for the professional manner that our case was handled with." Electronics Store - Dorset "Excellent and prompt service provided." General Store - London "TaxGone did everything they said they would. They enabled my company to restructure its outstanding HMRC debt and allowing us to repay in a realistic timescale at an amount that does not prevent the company from expanding, taking a great weight from my shoulders. I would recommend them to anyone in business." Recruitment Company - West Yorkshire "Very helpful, fast response from staff, and would highly recommend this company to fellow directors who are facing tough decisions." Construction Company - Kent "Alan and Anita were extremley helpful, I would not hesitate to seek their advice again". Web Design Company - London
by Ken Greenworth, 26/01/2015 | Permalink | Email this
Bank account frozen notices can chill you through to the bone. You may think that they are unusual but every time a winding up petition is issued a bank can freeze the company bank account as soon as the petition has been advertised. If you are wanting to pay off the petition but have no access to the funds then this can present a major problem. A bank account frozen notice can do more damage than the actual winding up petition. Call TaxGone on 01302 815846 if you would like to thaw out your bank account frozen notice.
by Ken Greenworth, 23/01/2015 | Permalink | Email this
No director wants to liquidate a company. But sometimes it becomes unavoidable. So it makes sense that if the company can repay its debts over a period of time and have a little or a lot of money left over, then that money should go back to the director, after paying for the service. This is called a Members voluntary liquidation. Agreeing the fee for the members voluntary liquidation before signing any paperwork helps to keep costs under control and increases the chance for a directors' payout. It may be that the director has a fleet of cars with personal guarantees attached to company loan agreements and doesn't want the cars sold off at rock bottom prices. There could be lots of reasons to opt for a members voluntary liquidation. If you want to know more about a Members Voluntary Liquidation, then Call TaxGone on: 01302 815846.
by Ken Greenworth, 22/01/2015 | Permalink | Email this
Business CVA advice can save a company that has financial difficulties that ordinary trading will not rectify. It is important to get advice as soon as possible whilst trading is still possible. Many advisors are too quick to advice liquidation but for most company directors, it would be heart breaking to let a business go when so much effort and investment has been put in to build up the business. The alternative is to take on board business CVA advice rather that letting any insolvency company use the debtor's book to fund their fees. Call TaxGone on: 01302 815846 to seek top quality business CVA advice.
by Ken Greenworth, 21/01/2015 | Permalink | Email this
Sometimes CVA Advisors feel that they are trying to fight a battle when directors refuse to see the logic of a CVA. Quite often directors believe that an Administration is the best course of action simply because their accountant has advised it! Nothing that CVA advisors say can persuade them otherwise. So let's look at an administration. The administrator takes control of your company - not you - you have no say. The administrator can sack you and he probably will. The company can carry on trading but you won't get paid if you've been fired. Your competitors might buy your business off of the administrator. Your bank borrowings probably won't be paid off if there is no debenture in place. Does an Administration seem so good now? Call TaxGone on 01302 815846 and ask to speak to a CVA advisor.
by Ken Greenworth, 20/01/2015 | Permalink | Email this
A CVA is one of the most amazing products on the UK market. Do you know any other product that will reverse bad company cash flows with a 60 months repayment period. Now that's fantastic but it gets better. A CVA can actually write off a proportion of debt. Even more, a CVA can be finished earlier than the agreed repayment period with often a further debt write off. Call TaxGone on: 01302 815846 to find out even more advantages.
by Ken Greenworth, 19/01/2015 | Permalink | Email this
Practitioners of Insolvency rescue and turnaround exits should be trying to reduce company debt rather than using the liquidating procedure.
They prefer to let the directors of companies dig out their future from the ashes of Liquidations.
It is not hard to reduce company debt through various methods such as a Company Voluntary Arrangement but Liquidations appear to be the preferred option for many advisors.
It is inconceivable that all those companies liquidated could not have survived and provided a better financial return to their creditors, continued employment and made a contribution to the GDP of the UK economy.
by Ken Greenworth, 17/01/2015 | Permalink | Email this
A Winding up Petition, if granted by a Judge, means the end of your company's existence. It is final and gut wrenching if you have poured your heart and soul into its very existence. But it doesn't have to be that way. If your company has a Winding up Petition and you want to save your business then as long as there is still potential sales that can be generated then there is a high probability that the Winding up Petition can be removed and your cash flow can be restored. This is not rocket science and it doesn't take more than a few weeks to sort out. So if your company has the misfortune to have a Winding up Petition, then call TaxGone on: 01302 815846 and give yourself a break.
by Ken Greenworth, 16/01/2015 | Permalink | Email this
If your company is struggling then you need to call the UK insolvency helpline on: 01302 815846. This is not a government helpline but one designed for companies so that they can make informed decisions for the future of their business. The UK insolvency helpline is operated by TaxGone who are one of the leading insolvency companies in the UK that specialises in corporate insolvency. If your company has any potential for the future then it may be worth saving and if you're willing to work hard then we have a very good chance of saving it. In most cases the client is not asked for any fees, so what do you have to lose? Call TaxGone on the UK Insolvency helpline today on 01302 815846 and see what we can do for you.
by Ken Greenworth, 15/01/2015 | Permalink | Email this
The mechanics of a CVA for a business are simple - it's just the excessive paperwork that disguises the simplicity! Any machine looks complicated at first sight but just break it down into its component parts and then it's easy to understand. A CVA is a basic agreement between a company and its creditors, to repay all unsecured debts. That's it!
by Ken Greenworth, 14/01/2015 | Permalink | Email this
A creditors voluntary agreement, also known as a Company Voluntary Arrangement (CVA) is one of the best deals that a director, that has cash flow problems, can get. In most cases a creditors voluntary agreement sets up a payment plan with no interest or penalties payable, or arrangement charges as all costs are taken out of the monthly repayments, which often write off some of the debt.