A Company CVA, known as a Company Voluntary Arrangement, is a miracle cure for financially distressed businesses.
It is not unusual for directors to disbelieve that a company CVA actually exists. After all, a typical director with problematic cash flows will have been trying to persuade HMRC to delay legal action.
Then along comes an insolvency consultant, full of optimism with an offer to stop HMRC in their tracks and furthermore, to ditch up to half of the HMRC debt.
A Company CVA becomes even harder to believe when the director is told that the part of the debt that isn’t written off, can be repaid over 5 years.
The director wonders why HMRC has been so intransigent when a Company CVA is available.
The director still has major doubts and is being told to liquidate by far more advisors than he can count on both hands.
So why do more than a thousand directors a month choose to go down the liquidation route rather than opting for a Company CVA?
Because they don’t bother to research their options on the Internet.
A Company CVA is well worth investigating if you want to keep your company.
If the HMRC were to be more transparent and inform directors that there are choices, then there would be less heart attacks, more Company CVA procedures and less people out of jobs.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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