It is not uncommon for many businesses to experience some kind of difficulty and distress. Usually this can be attributed to poor cashflow with insufficient liquidity causing debt to become backed up and with the sudden pressure of demands from VAT and corporation tax the burden can threaten to derail your operations. Regardless of the cause of your poor cashflow one potential solution could be a company voluntary arrangement which allows you to restructure all your outstanding debt into a single lump sum. This amount can subsequently be serviced by regular monthly payments that give you the financial breathing space to run your operations.
A CVA must be set up through a system of careful negotiation with your creditors via an insolvency practitioner. All legal and accounting measures will be dealt with by this appointed authority who will work to achieve the best outcome on behalf of your company.
McTear Williams & Wood has a lifetime’s worth of expert advice and knowledge of helping companies like yours recover from debt and distress. If you would like to discuss a potential company voluntary arrangement at our offices near King’s Lynn, please get in contact with us at your earliest opportunity.
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