So many organisations suffer from distress in today’s busy business climate. Regular changes in legislation, currency fluctuations and global economic moves can all unsettle your position. Then when you factor in corporation tax, PAYE and VAT its easy to see how a tenuous position can often topple into serious debt.
However, you may have more options that you realise. One popular measure that’s used to resolve business debt is a company voluntary arrangement (CVA). By consolidating all your outstanding liabilities into a single lump sum, you can then reduce this amount with regular payments.
To start the CVA process, you’ll need to appoint a registered insolvency practitioner to implement this measure. They’ll take care of everything including negotiation of the best terms with your creditors and all the essential accounting and legal work needed to formalise your chosen terms.
Why choose McTear Williams & Wood?
Get all the facts on a company voluntary arrangement at our offices near Corby where you can meet with one of our senior advisors. They’ll be able to talk through your current situation and will give you the best advice to help you get your business back on track. Call us on 0800 331 7417
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