Company Voluntary Arrangement CVA
Company Voluntary Arrangement Advice
What is a CVA? To find out watch the video below or scroll to read…
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Filing for a Company Voluntary Arrangement CVA for your company may offer a degree of protection against the VAT / Taxman's worst debt collection techniques.
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CVA For Business
Most business owners fall on financial hard times, regardless of the reasons. The Taxman or VAT man may demand that you also settle your tax or VAT bills, increasing the money owed to creditors. The tax / VAT man can be quite unforgiving, unlike other collectors. They can effectively wreck a business owners / taxpayer's life if they want to continue specific collection methods via the courts or via bailiffs. Seek advice from an Insolvency Auditor or an solvency practitioner to see the best way for your business to proceed.
CVA Is Not An Easy Way Out
Company Voluntary Arrangement CVA for a company is not an easy way out of debts, contrary to popular belief. Company Directors can legally seek debt relief with this for their company, and tax debts are included. It is likely to reduce all tax, VAT and other debts by filing for a CVA, but without any guarantees. An insolvency auditor will help you with the options open to your business when considering a CVA. Filing for a CVA provides a company an opportunity to settle their Tax, VAT and other creditor’s issues by entering into a payment plan.
You receive an 'automatic stay' or legal protection when your CVA has been agreed. The Taxman and all other creditors must stop all actions against you once you have filed for a CVA via the courts and the terms agreed by at least 75% of the creditors. Applying with the court is the only way that any of your creditors can hurdle the automatic stay while your CVA for your company is still in the process of being discharged or dismissed. Judges rarely lift the automatic stay, although the Inland Revenue is a government entity. Generally, in order for that to happen, the Inland Revenue or Customs and Excise is responsible for proving that fraud is being committed by the company or the taxpayer who is filing for a Company Voluntary Arrangement. You have more serious Inland Revenue / VAT issues on your hand if you're conducting fraud.
A CVA Can Freeze Debts
Tax debts are frozen until the CVA claim is dismissed or discharged. The statute of limitations resumes when CVA is dismissed, definitely prolonging it.
A CVA can only be carried out by an Insolvency Practitioner who is an officer of the court. In most cases the fees have to be paid up from to an Insolvency Practitioner regardless if the CVA goes through or fails. This is where an insolvency auditor can be a great help he can arrange for stage payment and reduce costs if the CVA fails.
However, there are also significant loopholes that will still allow the Inland Revenue and Customs and Excise to collect tax bills, even if a CVA for your company is filed and discharged. You need to sit down with an insolvency auditor or a solvency practitioner for a free consultation or call our helpline for free and confidential advice to see what your options are before it is too late. The main benefit of a CVA, as to a liquidation or a pre-pack insolvency, is to enable taxpayers to buy time to settle their tax problem.
CVA Advice from the UK's Most Trusted Insolvency Auditor
There must be a reason why most people are saying Moe Nawaz is the UK's most trusted Insolvency Auditor. Moe Nawaz focused on providing insolvency help to business owners and company directors for over 20 years. He regularly travels the country training accountants and solicitors and enrolled agents on how to handle their toughest cases with the Inland Revenue and Customs and Excise. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”. With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax or VAT problems for your company no matter where you live in the United Kingdom.
Complimentary chat with one of our CVA Expert. This enables you to learn more about the process. The call also allows you to learn more about us and how we can help you.
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