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, 07/10/2015 | Permalink | Email this
Business cash flow problems are a constant worry for many businesses across the UK. The results from a recent survey carried out to find the best action film sequel of all time has just been announced.
Much to the delight of many Indie fans it was the "Last Crusade". This survey illustrates how business cash flow problems can be avoided.
The "Last Crusade" was the third Indiana Jones movie in the franchisee. Incredibly it went head-to-head with Arnie's "Terminator 2: Judgement Day" and won.
The lesson is simple, if you find a wining formula then keep to it. If its not broke then don't fix it!
But many company directors try and fix their company when its not broken and wonder why the company then suffers business cash flow problems.
So if you are a director and have a system that works then carefully expand that system and develop very methodically the wining formula.
Don't think that just because you have one winning product then everything that you touch turns to gold - that's a formula for dire business cash flow problems.
It is far better to dominate a market with your product by offering variations of your product than bringing out a new line of products.
Consolidate first then diversify later or business cash flow problems will stop you in your tracks.
by Ken Greenworth, 05/10/2015 | Permalink | Email this
Business liquidation is a fact of life. When you deal with limited companies there is always a risk that you won't get paid and with no security in place to cover the debt, your business is always exposed. A business liquidation costs from £3,500 plus vat. It is always a good move to ask your potential liquidator to do a dry run business liquidation first as this will make the unexpected potential dangers evident. Also the insolvency practitioner, during a dry run business liquidation, will have a sole duty of care to you and not the creditors. This is the only time that this would be the case. It is far better to find out that you owe the creditors £100,000 at a time when the I.P. Is on your side so that you may wish to follow a different route to that of a business liquidation. Call Call TaxGone on 01302 815846 to arrange a dry run liquidation at no cost cost to you.
by Ken Greenworth, 28/09/2015 | Permalink | Email this
The Government doesn't really like to see Tax debt help being given. They just want their money. HMRC intimidates many directors into choosing the wrong direction in favour of paying HMRC. In paying HMRC the business may have to close or certainly can't expand and employ more people. It costs the state a minimum of £8,000 to support each person on social security. So there should be some sensible calculations done by the Government so that HMRC does not attack directors at their most vulnerable time. If you want to avoid the pain that could be inflicted by HMRC then call TaxGone on: 01302 815846.
by Ken Greenworth, 23/09/2015 | Permalink | Email this
Would you rather close a limited company or have to wear an adult nappy?
Both can be embarrassing!
Astronauts often wear nappies but only whilst in space.
Directors normally only close a limited company when it's in financial trouble.
If you close a limited company in the wrong manner then you might need a nappy!
If you want to avoid the pampers then Call TaxGone on: 01302 815846 and we'll arrange a dry landing.
by Ken Greenworth, 21/09/2015 | Permalink | Email this
You may be one of those directors that when faced with a winding up petition, hates companies ringing up to offer business rescue services. Many of those companies that call know that you could fall victim to bad advice from vulture companies and so do genuinely want to protect you. That may sound unbelievable but it's true. TaxGone is one of those companies that likes to see you succeed. Business rescue services should be welcomed just in the same way that you'd be glad to see the RNLI if your boat was sinking. You may not like taking advice from strangers but you probably never had a need to make friends with insolvency companies before! If you choose to take advice from people close to you, remember that they are probably strangers to insolvency. Call TaxGone on 01302 815846 for a friendly approach to business rescue services.
by Ken Greenworth, 16/09/2015 | Permalink | Email this
Most Insolvency Consultants don't look like Frankenstein. In the main, we're quite easy on the eye. If your business has developed some ugly problems and you're beginning to think that the monsters are out to get you then this is the time that you need to speak to Insolvency Consultants. TaxGone deals with financial uglies every day of the week and can turn frog companies into Prince companies in the flash of a magic wand. Word of caution for the benefit of advertising compliance, there is no such thing as magic. Magic Wands do not exist, neither do frog companies or indeed, Prince companies. It's a bit of fun so don't get worked up over it! Instead, just call TaxGone on: 01302 815846 to arrange a meeting so that we can show you how to change the future of your business, without magic, just common sense.
by Ken Greenworth, 14/09/2015 | Permalink | Email this
Time to pay HMRC style is compliments of HM Revenue & Customs' (HMRC) Business Payment Support Service which was established to help businesses and individuals following the 2008 financial crash. It worked in part for some companies as they were able to set up Time to pay HMRC deals very quickly. Every company director facing company cash flow problems, normally, just wants time and so a time to pay HMRC deal can often be the solution for saving a business. Unfortunately, the Insolvency Service has double standards, as they may jump on a director like a tonne of bricks for being a few hundred pounds the wrong side of the balance sheet but ignore the fact that the Government is hopelessly insolvent along with most of this country's banks. But Hey, if you can delay your payments, courtesy of HMRC, then go for it. If they turn you down, then you can always ring TaxGone on: 01302 815846 and we'll try and get you an even better deal.
by Ken Greenworth, 09/09/2015 | Permalink | Email this
Closing down a limited company can have unexpected results, both for the owner and those companies that acted as suppliers. The knock on effects to other companies could also result in closing down a company and then the domino effect takes over. This chain reaction can be catastrophic as the cost of a line of companies collapsing can cost the local economy millions of pounds. This is one reason why company rescue is so important. If you are closing down a limited company then look at rescue first as the unexpected results for you could be a tax bond on your new business equal to the HMRC loss on your old company. If you want to start closing down a limited company then call TaxGone on: 01302 815846 and you will be able to liquidate from £3,500 plus vat. You will also be able to do a dry run liquidation first so that the unexpected doesn't become so.
by Ken Greenworth, 07/09/2015 | Permalink | Email this
When you close down company structures you are throwing years of hard work down the toilet. It's an easy decision to follow the recommendation from a trusted advisor to simply let your company go when the debts become unmanageable. However when you close down company structures, you lose the momentum, marketing and money tied up in investment and the debtor's book. To carry on business you have to start again. Even worse, you might be chased by HMRC for their loss in your old company. They may even place a bond on your new company. Your Insolvency Practitioner may even chase you for the return of illegal dividend payments or overdrawn directors loan account. So before you charge down the path to close down company structures call TaxGone on: 01302 815846 and look at the great alternatives.
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.