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 time frames - 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 time-scale 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 extremely helpful, I would not hesitate to seek their advice again". Web Design Company - London "TaxGone are Empathetic and thoroughly professional". Training Agency - London "A prompt and helpful service that listened to my HMRC problems which at the time was appreciated as a listening ear that did provide comfort." Construction Company - London "The service I received from TaxGone has been excellent and I have been delighted with their knowledge and professionalism, particularly with the provision of the mannerism in dealing with sensitive nature of my issue". Catering Company - Tipton
by Ken Greenworth, 02/09/2015 | Permalink | Email this
Some directors want to adjourn a petition in the same way that they'd approach a casino table - a fast shake of the dice. The odds need to be stacked in your favour if you have a winding up petition on your company. It is no good at all to either ask for more time or dispute the debt if the winding up petition has followed a judgement such as a CCJ. There would be a high probability that the Judge will wind the company up - and you thought that he would adjourn a petition with a good barrister representing your case! If you want to adjourn a petition then you need to provide information for the Judge in line with the parameters that he'd like to hear. You do not want him to think that you are throwing the dice in his court in the biggest gamble of your life. Call TaxGone on 01302 815846 and let us keep your company safe.
by Ken Greenworth, 31/08/2015 | Permalink | Email this
Company Voluntary Arrangements
There are not many company directors in the UK that when served with a winding up petition - do not bat an eyelid.Those few pieces of paper tend to focus the attention and kick-in the survival instincts.
If the winding up petition is advertised then panic can set in, especially when the company bank account is frozen.
Then every man and his dog rings the director to provide assistance – some genuine, most not.
That is often the time when confusion sets in and the correct time when directors should move away from the phone and research their predicament for themselves, with common sense for their business.
Directors should decide first and foremost whether they have the desire to continue to trade – do they like the work? – if the answer is no and they just want to walk away then Voluntary Liquidation may be the answer.
If, however, the answer is either yes, or no but there is no alternative way of earning a living, then a Company Voluntary Arrangement - CVA may be the best route to take.
If there is a winding up petition in place then it would be dismissed upon the approval of a Company Voluntary Arrangement.
So – Google Company Voluntary Arrangements and see if you like the feel of the procedure. You should think of a Company Voluntary Arrangement as a mechanism for giving your company more time and legal protection from creditors to sort out its financial affairs.
For further information and free advice, check out our Company Voluntary Arrangement homepage and give us a call on: 01302 815 846.
You will have probably realized that, although we take our work very seriously, we do not approach life with the same attitude.
So many insolvency companies have the atmosphere of a morgue. Come and visit us and you will immediately see that we are very different and you may be very surprised!
by Ken Greenworth, 26/08/2015 | Permalink | Email this
Company insolvency advice, if statistics are to be believed, nearly always ends up with the company being liquidated, and yet the directors probably wanted to save the business. Looking from a distance the process appears to be akin to target practice. If you are wanting company insolvency advice for the purpose of saving your business then make sure that you are shown how a Company Voluntary Arrangement works. That is the only insolvency procedure that keeps the director in control and the company trading.
by Ken Greenworth, 24/08/2015 | Permalink | Email this
Company tax problems can get you into such a state that they can take over your every thought. They become all consuming and every day life gets put on hold. But there are more important things in life that can take priority. Your Health is more important. You may think that you can take the stress of HMRC pushing you for payment. You may believe that you have fought bigger battles and won. But there's probably more at risk with this battle than any before. Company tax problems are easier to deal with by people that do it for a living. Rather than build up the stress, take the easy route and let TaxGone remove your company tax problems for good. But don't waste any time as HMRC now favours the removal of goods over winding up petitions. Call TaxGone on 01302 815846.
by Ken Greenworth, 19/08/2015 | Permalink | Email this
Can't pay corporation tax is no excuse. The HMRC response is - Won't pay? Then we'll take your assets! It's that tough now. This speeded up response changes the rules. No longer has a director time to mull things over any more. In trouble? Sort it. It's that simple. Sort it and sort it fast. A Winding up Petition for those that can't pay Corporation Tax often gave the company between one and six months before the company either was wound up, voluntary liquidated or proposed a Company Voluntary Arrangement. HMRC lost out heavily. But now with the policy change towards distraint, their coffers are filling up and companies are losing their assets faster than they can blink. If you are worried about HMRC action then call TaxGone on: 01302 815846 and we'll show you the best way forward.
by Ken Greenworth, 17/08/2015 | Permalink | Email this
Closing a business is not as easy as starting one! It may seem easy when talking about closing a business as it may sound like it's just a matter of signing a bunch of papers and turning up to a quick meeting in some anonymous hotel. This is not the end of the matter in most cases. The Insolvency Practitioner has a duty to the creditors to make sure that all money owed to the company is recovered- this includes all the money owed by you. You may think that you don't owe any. However, you may not have considered dividends, Director loan accounts or expenses. This is why we offer a free dry run liquidation first so that the unexpected doesn't happen. So if you are thinking of closing a business then Call TaxGone on 01302 815846.
by Ken Greenworth, 12/08/2015 | Permalink | Email this
In order to adjourn a winding up petition in the companies court, you need a good reason. When the court is filled with winding up petitions, the atmosphere can be very tense. If you are a company director listening to a petition on your company then it can be daunting. The cases are read out like parrot fashion, it's fast and furious and it's easy to miss your turn if you are unfamiliar with the process. Having more time to pay is not always a good reason to adjourn a winding up petition as the Judge may tell you that you have already had plenty of time since the petition was served. Any request upon those lines would have to be supported with substantial evidence to prove that you would not be wasting court time. If the winding up petition is at the first hearing stage then a competent barrister should have no difficulty in the attempt to adjourn a winding up petition. But be warned, many seeking an adjournment do fail at the first attempt. Call TaxGone on 01302 815846 to be certain that you have done everything that you can to adjourn a winding up petition.
by Ken Greenworth, 10/08/2015 | Permalink | Email this
Ok, so you think that the closing limited company idea, is a good thing? Probably not. If you want to be banned as a director or face massive company cash flow problems when starting up your Phoenix company, then carry on. You may find it easier to deal with your present problems rather than creating new ones. However, the insolvency service is all over companies like a bad rash and when you start closing your limited company you will be waving your white flag in the air and dropping your trousers. Now that may appeal to you as it does take all sorts. But, I'm willing to bet that you just want to end the hassle and start to make money again. If that's correct then get rid of closing limited company ideas and let TaxGone check your company out to see if there's a better way to get to where you want to be. Call TaxGone on: 01302 815846 and we'll provide a belt for your trousers.
by Ken Greenworth, 05/08/2015 | Permalink | Email this
Paying CVA contributions on a monthly basis is the best way to deal with unsecured company debt. If your company has a debt with HMRC of a hundred thousand pounds then isn't it easier, for example to swap that for a repayment of £1,000 a month with no penalties or interest charges? It's strange but we have actually had directors tell us that they're not going to be paying contributions and yet they have no answer as to how they can repay the debt, obviously those companies end up being wound up. But can you believe that the very same directors will call us after their company has been wound up to grumble that they have been hard done to! If you want to understand how paying CVA contributions could save you a huge amount of stress then call TaxGone on 01302 815846.
by Ken Greenworth, 03/08/2015 | Permalink | Email this
Company winding up petitions are very unsavoury documents. They can bring misery and despair to the debtor company and its directors. It's a document that can take the wind out of anyone's sails. They close companies. Surprisingly, they are not designed to be used as a debt collection tool, even though this is done every day. Some judges take exception to this and even sometimes dismiss the petition rather than going through the company winding up process. If you have a company winding up petition then call TaxGone on: 01302 815846 and we can show you how to stop it.