Business distress is becoming increasingly common. Many ventures these days are prone to downturns that can put them into the red. When you factor in big bills from suppliers or customers going insolvent alongside obligations to HMRC such as VAT and corporation tax it’s easy to see how debt can suddenly become unmanageable.
Finding your organisation in a similar situation? Don’t worry. With a company voluntary arrangement ("CVA") you may be able to get your finances back on track faster than you realised. This simple legal measure allows you to consolidate all company debt into a single amount that you can service with regular repayments.
To successfully implement a CVA for your business you will require the services of an insolvency practitioner. They will perform a number of duties including all the necessary legal and accounting work alongside negotiating with your creditors to secure the best outcome.
Does a CVA sound like the right course of action for your business? Find out more with a free 1-2-1 appointment to discuss your company voluntary arrangement at our offices near Bournemouth. We’ll talk through all the options available to you to help you find the best way forward for your venture to return to profitability. Call us on 0800 331 7417
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