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, 29/07/2015 | Permalink | Email this
Sometimes directors are not given the full picture when sat in front of their bank manager. Although it must be said that the bank manager may have felt the same way for years! In most cases the bank manager will not want to stop an administration as he will want to rule a line over trading and reduce the banks exposure. But there are ways to show the bank manager that we can stop an administration, keep trading and reduce the liability to the bank faster than an administration. So if you want to stop an administration then call us. You don't need a surgeons kit to stop an administration. You just need to Call TaxGone on: 01302 815846 and we'll demonstrate to your bank or lender that there are other options than giving up control of the business.
by Ken Greenworth, 29/07/2015 | Permalink | Email this
Want a Ferrari? Can't afford one? No room for luggage? Any more excuses? If your company cash flow problems were not so bad, would you change your mind? But you would have one if it was given to you free - wouldn't you? Company cash flow problems are a pain. They force you to waste time robbing Peter to pay Paul. Taking far too long to deal with debt issues stops you from making money. Isn't it time you faced reality and brought in help to resolve your company cash flow problems? Call TaxGone on 01302 815846 and let us help you.
by Ken Greenworth, 27/07/2015 | Permalink | Email this
Pre Pack insolvency is like most pre packaged things - very tempting! Take a bar of chocolate for example. Some people manage to break off a small square, eat it and then put the bar away.
The addiction to chocolate is only just beginning to be acknowledged.
So too is the addiction to debt. That can be quickly solved through the use of pre pack insolvency measures.
In a matter of a day or two your financially strapped company could dump its debts and slide its assets into a brand new shiny company, maybe even with the same trading name. That's pre pack insolvency.
There are a few important points to bear in mind with Pre Pack insolvency.
The assets must be sold at a true valuation and fraudulent activity can overturn what may look like a done deal.
Your new company and directors may be at risk.
Your company may be asked to pay an HMRC bond equal to their loss in your old company as they see this to be their potential exposure level and directors may be banned from being directors when the old company is investigated.
There are other ways to turn companies around that may be better.
Call TaxGone on 01302 815846 to discuss your options.
by Ken Greenworth, 22/07/2015 | Permalink | Email this
CVA help may be the most important help that a business in financial trouble may need. It's all about having the right tools for the job. If you are being advised to liquidate when you know that your company could have a good future, then the advisor definitely does not have the right tools for the job as he should be giving you CVA help. Yes it is difficult to know who is telling the truth. You should be able to trust your accountant - but can you as he may have an ongoing relationship with an insolvency Practitioner that has never put together a Company Voluntary Arrangement and so he can't give you any CVA help. Maybe he just wants to take the easy option. Isn't it strange that you may receive a more honest approach from strangers than from your most trusted source. Call TaxGone on 01302 815846 and you'll see that we're here to help.
by Ken Greenworth, 20/07/2015 | Permalink | Email this
The hour has passed when HMRC allowed a Time to pay helpline to give a generous deal in which taxes could be repaid over long periods of time. Most companies that asked for one got their wishes granted. Even many accountants gained valuable time for their clients when their clients had money in the bank to pay. An HMRC Time to pay helpline was needed after the 2008 financial crash and it worked. It was an easy way to support UK business. If you are looking for an HMRC Time to pay helpline then you may find it better to Call TaxGone on: 01302 815846 as we provide a free Insolvency consultancy service that can help your company to spread out HMRC debt over many years, with no interest, charges or fees in most cases.
by Ken Greenworth, 15/07/2015 | Permalink | Email this
Company Liquidation Advice is perfect when received in plenty of time, adequate at the last minute but bloody useless after the event. So it's a question of time. Some Mother-in-Laws are like that - telling you what you should have done after the event, rather than giving you proper advice at the beginning. Most directors just want to buy time because they think that they can fight themselves out of a corner. But it's what got them in the corner that they should be fighting! Any directors that listens to company liquidation advice should act on it or it's not worth the time listening. But it does rather depend on the quality and balance of that advice. There may be a better way of survival that would be more beneficial than liquidation. With a liquidation you will be at risk to pay a bond on your new company to the value of the HMRC loss on your old company. How will you pay that? Call TaxGone: and you will see that our company liquidation advice will give you the right information to move forward with confidence.
by Ken Greenworth, 13/07/2015 | Permalink | Email this
Company debt advice is often very hard to take, especially when the director thinks that through experience he knows everything. Think of it like this - for complicated financial situations, a director has the equivalent of a toothpick to sort out his problems whereas a consultant offering company debt advice, has a Swiss army knife. Which gets the job done faster and cleaner? And yet, so many directors fail to take company debt advice in preference to choosing to consult their best mate in the pub. It just does not make any sense at all. If you want to keep your business then Call TaxGone on: 01302 815846 for great company debt advice.
by Ken Greenworth, 08/07/2015 | Permalink | Email this
A Company Voluntary Agreement is the most dynamic insolvency procedure that has ever been put into law - also known legally as a Company Voluntary Arrangement. When a company cannot pay its unsecured debts but has a good prospect of keeping the sales rolling in, then there is no better way of trading on than with a Company Voluntary Agreement. Many companies often make the mistake of liquidating their company because of the lack of advice. Not many insolvency practitioners provide a full option package, especially if they have never put together a Company Voluntary Agreement before.
by Ken Greenworth, 06/07/2015 | Permalink | Email this
HMRC problems are not limited to just a few unfortunate companies that through their own mismanagement have fallen foul of HMRC guidelines. Anyone that believes that has their eyes shut! Look around and you'll see that a large percentage of small businesses are really struggling with HMRC problems irrespective of whether we have come out of the recession, or not. Even if GB hits boom times, it will make no difference as Britain is broken and it needs fixing. Small to medium businesses are the powerhouse of the economy. Every political party acknowledges that fact and so it's not up for debate. Hurt the private sector and the economy takes a dive. Well the private sector is hurting and there is one big problem that needs sorting and that's ineffective, irresponsible, self-serving Committees and Boards that run public organisations, public companies and political parties. Whilst the private sector is supporting the economy the country is failing because of the public sector malaise. Have many bankers been jailed yet for their part in the global financial disaster? Have all the politicians been fined for their fraudulent expense claims? Why don't doctors run hospitals social service support? Why does little Britain fund everyone from other countries but do little for its own people? The list goes on and on but the drain on precious resources will accelerate whilst common sense is not listened to and politicians protect their personal interests. In the meantime, small businesses have to find a way to make a decent profit and avoid HMRC problems. However if you are finding trading difficult then call TaxGone on: 01302 815846 and we'll see if we can help.
by Ken Greenworth, 01/07/2015 | Permalink | Email this
Have you had a visit from an HMRC bailiff? Treated with the respect that they deserve, they are very pleasant people that have a very difficult job to do.
In the majority of cases they will do their very best to help you and to keep your business going.
Only those directors that tell an HMRC Bailiff to go and do something to themselves, will continue to think that they are just like the worst pub bouncer.
You owe HMRC money and it's reasonable that they want their money back and it's fair that if you don't pay them then they will send in an HMRC Bailiff.
It's not their fault - it's yours. Sensible directors know this.
If your cash flow simply is so bad that either you can't pay the HMRC Bailiff or that if you do, then your business will collapse, then call TaxGone on: 01302 815846.
We'll talk to the HMRC Bailiff and put a plan in place for your company.