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 "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, 25/11/2015 | Permalink | Email this
Pressure mounts upon directors when adverse financial information hits the public domain, like when their Winding up Petition is advertised. Directors may find then that their telephones will ring ten times more than the PPI firms could manage. So it is understandable that the few recommendations to set up a Company Voluntary Agreement would be lost in the calls from insolvency practices and possibly even their own accountants to liquidate. Directors should slow things down and take careful advice and follow it up with a little research on the Internet. It has probably taken years to build up the company and it would be a shame to close a limited company just because a Company Voluntary Arrangement has not been fully explored. TaxGone provides assistance at zero cost to directors and shareholders of small to medium businesses throughout the UK in the preparation of Company Voluntary Arrangements, find out today if this is the best option for your business. Call TaxGone on: 01302 815846.
by Ken Greenworth, 23/11/2015 | Permalink | Email this
It is not unusual for directors to disbelieve that a Company Voluntary Arrangement - CVA actually exists. After all, a typical director with problematic cash flows will have been trying to persuade HMRC to delay legal action for some time.
Then along comes an insolvency consultant, full of optimism with an offer to stop HMRC in their tracks and furthermore, to ditch anything up to half the HMRC debt. Sounds incredible but its not - Company Voluntary Arrangements have been around since 1986 and are used to save thousands of jobs each year.
If the HMRC were to be more transparent and inform directors that there are choices, then there would be less heart attacks, more CVA procedures and less people out of jobs.
A CVA has many virtues - find out more today, we are a friendly transparent bunch at TaxGone and talk in jargon-free English.
Being unable to pay your taxes is not a crime unless you don't do anything about it. Pick up the telephone and give us a call on 01302 815846 - TaxGone wants to make your life less taxing!
by Ken Greenworth, 18/11/2015 | Permalink | Email this
Mostly a company administration should not happen. A bank can send a company into administration when a bank controlled debenture is lodged against the company. This can give the bank the right to appoint an administrator to control the company.
You lose control and the administrator is free to sell the company to a third party or trade it on or liquidate it. It was your company but it would no longer be so.
So if someone is threatening you into a company administration then you should be very worried. It is rarely good for the creditors, disastrous for the shareholders and even pretty dismal for the debenture holders.
There are probably better ways to deal with the situation than to give up control. To guide you through the fast pace to keep in control of your business ring TaxGone on: 01302 815846 right now.
by Ken Greenworth, 16/11/2015 | Permalink | Email this
It is still a concern to us that insolvency advice based on a rescue plan, is not getting through to those companies that have fallen. It would be interesting to know what insolvency advice was given and whether the directors would have done anything differently with their corporate debt.
It's very distressing to see companies, after many generations of trading, just disappear just because they may have only been offered a Members Voluntary Liquidation or a Creditors Voluntary Liquidation, rather than comprehensive insolvency advice.
Insolvency is not very pleasant at all but at TaxGone, we can take away most of the pain and turnaround your business so that the debts will be manageable with the prospect of a prosperous future.
For good insolvency advice talk to TaxGone today on: 01302 8158 46 and we'll discuss all the options available to you.
TaxGone: A Great Deal, Less Taxing!
by Ken Greenworth, 11/11/2015 | Permalink | Email this
The liquidation process in the UK is very simple. It is the aftermath of a liquidation that can become complicated. Liquidations are often sold as a complete solution to an entrepreneur's woes. They are not. The UK may be one of the fairest liquidation regimes in the world, both for the creditor and debtor, however when a director places a company into liquidation, it is important to know what the effects of that action may be. Better to know the dangers before committing yourself to what may be a financial nightmare. If you want to know more about liquidation process then call TaxGone on: 01302 815846 and we'll show you every option that is available.
by Ken Greenworth, 09/11/2015 | Permalink | Email this
Business cash flow problems are the main barrier to success. Defeat these and a wealthy future is yours for the taking.
The peaks and troughs that occur as a result of business cash flow problems were once evened out by generous overdraft facilities that were provided by your local bank.
Although now that service barely exists anymore. In its replacement, many directors resort to personal financing by way of credit cards and home re-mortgaging, often suffering hardships due to the excessive squeeze in resources.
Nobody knows whether there is worse to come or if we are in the middle of a ten year recession. It's anyone's guess.
Its not all bleak, if you have a viable business that is suffering with cash flow problems then call TaxGone on: 01302 815846 and we'll talk this through together at no cost to you.
TaxGone - A Great Deal, Less Taxing!
by Ken Greenworth, 02/11/2015 | Permalink | Email this
What Is a Company Voluntary Arrangement? In a nutshell, a Company Voluntary Arrangement is an agreement where a company's creditors decide to accept reduced payments and write off debt. This releases the burden of debt on the struggling business and frees up cash to enable it to continue to trade.
As a result of the Company Voluntary Arrangement, creditors not only agree that they will write off a certain amount of the money that they are owed. They also have the opportunity to continue to trade with the company into the future. This is certainly a better prospect than the total failure of the business and the likelihood that there will be no returns for creditors at all.
As with many corporate rescue solutions, Company Voluntary Arrangements have attracted some criticism. Creditors argue that they are forced to accept the terms of a CVA because if they do not, they are threatened with the closure of the company and that they will be left with nothing.
In fact, this argument is flawed because a company would only consider a CVA in the first place if it is struggling to repay its debts and facing liquidation. If this situation were allowed to happen, the creditors would lose everything anyway.
A Company Voluntary Arrangement is designed to save the business and at least get some return for the creditors. It is not a method of simply avoiding paying the company's debt. An additional benefit over alternative business rescue solutions such as pre-pack liquidation is that the CVA is seen as a more consensual measure.
It requires the approval of 75% of the value of voting creditors to be accepted and set in place. Without this, the Company Voluntary Arrangement cannot be implemented.
Talk to TaxGone today and see if a Company Voluntary Arrangement is the way forward for your business.
by Ken Greenworth, 28/10/2015 | Permalink | Email this
Closing a limited company is often a sad occasion as much blood, sweat and tears probably went into the enterprise and for the conclusion to be have to shut it down, can be heart-breaking to say the least. Make sure that the aim of closing down your company isn't just to get rid of the creditor hassle as this can be done in a much better way than closing, as a Company Voluntary Arrangement would allow trade to carry on and the hassle to go away. That's because a Company Voluntary Arrangement can clear off a large percentage of your unsecured debts and put the rest into a manageable monthly payment freeing up your cash flow. One of the important points to remember when closing a limited company, is to get good advice before you start. Talk to TaxGone today, call us on: 01302 815846.
by Ken Greenworth, 26/10/2015 | Permalink | Email this
The number of companies bankrupt now has hit an all time high. Many of the old brands have long gone, such as Woolworths and Comet. It is astounding how such mega companies can just close, especially when they were always so full of customers.
To help you bankruptcy advice services are offered by many companies and organisations across the UK. Some charge fees whilst others offer a free service, often because they are charities.
Not all bankruptcy advice service companies are offering the same service because some just give advice whilst others are proactive and can sort out the problem, following on from the advice.
At TaxGone, if the debts are in excess of £20,000, then the bankruptcy advice service that is offered is free and individual voluntary arrangements and Company Voluntary Arrangements, for companies, are available with charges taken out of the schemes in pence in the pound deals.
Call TaxGone on 01302 815846 for comprehensive help to a better future.
by Ken Greenworth, 21/10/2015 | Permalink | Email this
A Company Voluntary Arrangement CVA is the first step to secure financial stability and must often be accompanied with a change of the corporate habits that initially caused the problems. Your company needs to owe a minimum of £20,000 with no upper end limit. The more you owe, the better the Company Voluntary Arrangement.
Entering into a CVA does not prohibit, in any way, the normal running of the company. Sometimes new credit facilities can be a little harder to obtain, however good business negotiators can always secure credit lines by agreeing an increasing credit line with assessment periods built in.
In instances where the customer base is the public and the creditors that are placed into the CVA are normal creditors including HMRC then the company will simply carry on without the heavy debt burden.
When your company has been granted a CVA then the creditors can no longer wind up your company. The right to do so may be vested in your Supervisor. Generally, the only reason that he may take such action is if you do not keep up to date with the agreed monthly repayments or post– CVA HMRC payments.
Take a better look at a CVA with TaxGone today.