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Posts Tagged ‘company voluntary arrangement’

Top 5 Solutions for Dealing with HMRC Winding-up Petitions

Winding up petition from HMRC

  In June 2010, we posted an article explaining how to get winding up petitions dismissed and withdrawn and another, five months later, revealing how HM Revenue and Customs (HMRC) was responsible for issuing the vast majority of winding up petitions in Britain.

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Remedies for Struggling Directors: CVAs and Renegotiating with Creditors

Company directors experiencing financial difficulties often consider terminating agreements and contracts to reduce the burden of their debts. A director in this position must avoid delaying decisions and rectify the situation as soon as possible; otherwise the business will experience a rapid decline in trade and become insolvent. Reducing staff and rented equipment will lower costs,…

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Take Control of Your Business before Creditors Do

If your business is in financial trouble, the earlier you address the problem, the more doors will be open for you to find a solution. The longer you leave it those doors will begin to close. Prompt action can prevent creditors from losing patience and issuing you with a winding up petition; leaving your business…

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Time To Pay Arrangements Can Do More Harm Than Good

According to the most recent figures available, around 200,000 businesses have entered Time To Pay (TTP) agreements with the HM Revenue & Customs (HMRC) in the past 18 months, deferring over £5bn in taxes.   TTP arrangements allow businesses that are unable to pay taxes on their due dates to make monthly payment over a period…

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JJB Sports Complete Company Voluntary Arrangement

JJB Sports Company Voluntary Arrangement

JJB Sports owners are ‘delighted’ to have concluded their company voluntary arrangement (CVA) last month. The sports equipment retailer entered into a CVA with creditors and shareholders in May 2009 to avoid collapse. But what is a CVA? Companies apply for CVAs when they’re overwhelmed by debt liability and, as a result, unable to trade.…

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