Many businesses can suffer from debt and distress in today’s fast paced commercial environment. It is not uncommon for currency fluctuations, new technologies or even internal difficulties to throw a company off course impacting cashflow and profitability. Factor in other responsibilities such as VAT, PAYE and corporation tax and suddenly debt can become unmanageable.
If your company is in a similar situation it may be possible to turn your finances around with the support of a company voluntary arrangement. Special measures are implemented that allow you to consolidate all of your debt into a single lump sum which is then serviced with manageable monthly payments. In order to implement a CVA you will need the support of a registered insolvency practitioner. All the necessary legal and accounting measures are overseen by your appointed authority who also negotiates with your creditors to secure the best outcome.
If you are considering this course of action, then McTear Williams & Wood is ideally positioned to help you out. Discuss a potential company voluntary arrangement at our offices near Bury St Edmunds where we will talk you though all the options available in a single, simple 1-2 hour appointment.
Every day that your company wastes its resources managing creditors’ expectations and juggling cashflow is a day that you could use to run your business more productively. Implement a CVA today to free up your time and get back to doing what you do best.
McTear Williams & Wood is able to provide you an objective appreciation of your current financial situation and whether a CVA is a good option in a 1 to 2 hour initial consultation from our Norwich offices. Find out by booking your free consultation and call McTear Williams & Wood on 0800 331 7417
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