Set Up A Company Voluntary Arrangement
TaxGone is one of the largest providers of Company Voluntary Arrangements in the UK and whilst the world of insolvency is wrapped in mystique, TaxGone aims to right that wrong. Insolvency practitioners are often believed to levy significant fees which can effectively eradicate any value in a business as opposed to rescuing them. This is not the case with TaxGone, we are company rescue consultancy and do not charge fees directly to clients for Company Voluntary Arrangements.
Company Voluntary Arrangement (CVA)
A Company Voluntary Arrangement (CVA) is a restructuring tool. Drafted correctly it can change a company that looks dead, into one that is fighting fit, with all of its assets safe and a very healthy cash flow that can be a foundation for rapid expansion. A Company Voluntary Arrangement is a formal insolvency procedure used to assist companies to carry on trading when in financial difficulties.
The procedure is implemented according to Part 1 of the 1986 Insolvency Act and the Insolvency Rules 1986.
So asking – What is a Company Voluntary Arrangement? Opens up huge possibilities for directors at a time when they may have given up any hope of keeping their company.
You may have been told that you can’t set up a CVA or that a CVA is not right for your company. We often hear this and in your case it may be true. What if you have been given incorrect information?
Would you want to save your business? We don’t know one way or another whether a Company Voluntary Arrangement is the right course of action until we know the facts. But we do know that if it is, then setting up a Company Voluntary Arrangement is easy and hugely beneficial for all stakeholders.
If your company owes creditors, including HMRC, more than £20,000 and there is still potential for continued sales at a profit, then your company may be suited to propose a CVA.
Your only problem might be that you have historic debts that are owed to HMRC and trade suppliers. You may see your company as a basket case – we may not.
Preparing a draft proposal for a company voluntary arrangement can take one day to produce, subject to having received your information. You have nothing to lose and everything to gain by simply exploring the possibility.
We have often encountered accountants that have asked. – What is a Company Voluntary Arrangement and yet their clients have still been willing to take their advice and go into voluntary liquidation.
We would welcome a visit from you to our offices – even with your accountant in tow! We will show you the simplicity of a Company Voluntary Arrangement.
Why throw everything away that you have worked so hard for? Maybe some advisors have their sights on your debtors book in voluntary liquidation rather than on your best interests.
We don’t charge you to set up a Company Voluntary Arrangement.
So if we think that it’s the right course of action and are willing to invest in you, ask yourself if you think that you are worth investing in.
If you are, then come to our Doncaster office. We can’t promise you great scenery but we can promise you an honest solution to your company debt problem.