When vat arrears build up in your company there can be a rocky road ahead. HMRC are not willing creditors, unlike the rest of a company’s creditors and so they object to late or reduced payments to fund cash flow.
If your company has debts, including vat arrears, that cannot be paid before legal action is taken then it would be very sensible to look at a Company Voluntary Arrangement in order to stay in control and keep on trading.
Some companies are advised just to liquidate when the first sign of trouble arrives so getting the right business debt help is crucial, some advisor’s will only tell you about rescue procedures if you insist that you want to keep on trading. It is an illusion that the only choice is liquidation.
Come and talk to TaxGone on: 01302 815846 and arrange a meeting to see if your company can be saved.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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