Company Voluntary Arrangement

Company Voluntary Arrangements

There are not many company directors in the UK that when served with a winding up petition - do not bat an eyelid.Those few pieces of paper tend to focus the attention and kick-in the survival instincts.

If the winding up petition is advertised then panic can set in, especially when the company bank account is frozen.

Then every man and his dog rings the director to provide assistance – some genuine, most not.

That is often the time when confusion sets in and the correct time when directors should move away from the phone and research their predicament for themselves, with common sense for their business.

Directors should decide first and foremost whether they have the desire to continue to trade – do they like the work? – if the answer is no and they just want to walk away then Voluntary Liquidation may be the answer.

If, however, the answer is either yes, or no but there is no alternative way of earning a living, then a Company Voluntary Arrangement – CVA may be the best route to take.

If there is a winding up petition in place then it would be dismissed upon the approval of a Company Voluntary Arrangement.

So – Google Company Voluntary Arrangements and see if you like the feel of the procedure. You should think of a Company Voluntary Arrangement as a mechanism for giving your company more time and legal protection from creditors to sort out its financial affairs.

For further information and free advice, check out our Company Voluntary Arrangement homepage and give us a call on: 01302 815 846.

You will have probably realized that, although we take our work very seriously, we do not approach life with the same attitude.

So many insolvency companies have the atmosphere of a morgue. Come and visit us and you will immediately see that we are very different and you may be very surprised!

TaxGone - Company Voluntary Arrangement - CVA Specialists

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