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
"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 Davis 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
by Ken Greenworth, 01/08/2014 | 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, 31/07/2014 | 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, 30/07/2014 | 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, 29/07/2014 | Permalink | Email this
Company bankruptcy is no joke as it can hit the most unlikely company. When it strikes, panic can set in and the director has a knee jerk reaction and appoints the first salesperson that he speaks to. If you are looking hard at company bankruptcy, then you will probably know that there are two main options - save the company or dump it. To save the company, a Company Voluntary Arrangement can be used which is very effective to solve cash flow problems where there is definite future sales prospects. To dump the company a Creditors Voluntary Liquidation is used. Liquidations are from £3,500 plus vat. If you have a company bankruptcy problem, then call TaxGone on 01302 815846 for all your options.
by Ken Greenworth, 28/07/2014 | Permalink | Email this
Corporate Debts have been around since the dawn of commerce. In the beginning they were a simple exchange of favours. Later on as a balance of favours became unequal a simple debt remained that had to be repaid by an extra favour. Then one bright chap assigned debts to a marker, a value that not only could be judged but exchanged for the repayment of the debts or to purchase new favours, goods and stock. We have moved on from those times and debts have morphed into a complicated, intertwined multi-headed monster that can destroy lives. If you have corporate debts that you can no longer handle or you want to carry on and trading but can't see how, then we'll show you how with what may seem to be financial alchemy, slash your debts and make them seem insignificant, whether you owe £20,000 or £20,000,000. Just call TaxGone on: 01302 815846 for your free insolvency advice. We are a friendly transparent bunch at TaxGone, we talk in jargon-free English and have good connections with over 400 accountancy practices. We welcome a visit from you to discuss your company financial problems - TaxGone wants to make your life less taxing!
by Ken Greenworth, 27/07/2014 | 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, 26/07/2014 | Permalink | Email this
Every business person that has business cash flow problems will tell you that every company in the land is suffering from business cash flow problems, its a sign of the times. But that's not true – it just seems that way. Business cash flow problems have been with us since trading began. The difference today is that credit has dried up at a time when the spread of business is at its peak. Getting rid of business cash flow problems could be easy if hard decisions are made and a combination of sharp cost cutting and harder selling is implemented. If the burden is greater than the solutions, then a Company Voluntary Arrangement could help resolve your cash flow woes as long as sales are still coming in. This would allow more time to be spent in selling rather than wasting precious time dealing with creditors. Company Voluntary Arrangements - CVA's have been keeping businesses afloat since 1986, and are a little known insolvency tool. Business cash flow problems can sink a company in a matter of months. Don’t wait to see what happens – you’re the director, start directing as that’s your role, otherwise you’ll be looking for a new job faster than you can imagine. If you need help with your business cash flow problems then call TaxGone on: 01302 815846.
by Ken Greenworth, 25/07/2014 | 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 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.
Also the Judge will usually listen to a hundred plus company excuses in one morning. Would you still be sympathetic after half an hour. 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. Giving you that extra time to sort out your finances.
If you are hoping that the judge will adjourn a petition on the second time around, after having already granting an adjournment, then you are a very optimistic person. Perhaps you were this optimistic before you received the winding up petition.
If an insolvency intention was not given for the first adjournment then proof that the company is proposing a Company Voluntary Arrangement or a set date for a liquidation may sway the judge, but it’s their decision. If you want to adjourn a petition then call TaxGone today on: 01302 815846.
by Ken Greenworth, 24/07/2014 | 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, 23/07/2014 | Permalink | Email this
It is very important for a company director to pay HMRC as they often refer to themselves as an unwilling creditor. Once upon a time you felt that you had to pay HMRC as they had a preference over trade creditors and so were slightly more relaxed about being owed money, as they got paid first. Although HMRC are getting far more “active” they have a good healthy record in accepting Company Voluntary Arrangements when directors are unable to pay HMRC and other trade creditors. 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 can not pay HMRC or its other 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 - saving businesses and jobs since 1986. Talk to TaxGone today about your insolvency options on: 01302 815 846.