It's For Partnerships and Sole traders, broadly speaking the Debt solution may be similar to an Individual.

However, a Limited Company has limited liability when it comes to debts as the debts are limited to the assets of the company.This is of some comfort when the company is no longer viable or wishes to cease trading. But what are the options if the company is viable? How can the business sort out its debts and continue to trade?

The Company Voluntary Arrangement or CVA may be an answer, It is a legally binding arrangement with the companies creditors

• Company voluntary arrangements (CVA's) can improve cashflow, quickly.

• Stop pressure from tax, VAT and PAYE while the CVA is prepared.

• A company voluntary arrangement can quickly cut costs.

• Company voluntary arrangements can terminate employment contracts, leases, supply contracts  etc with no cost.

• You can terminate landlords leases with no cost with a well written CVA so that you can walk away from the lease.
• You can terminate directors or managers contracts.

• Terminate customer contracts.

• Board and shareholders generally remain in control of the company.

• Much lower costs than Administration or Recievership
• Finally, it is ALSO a good deal for creditors as they retain a customer and receive a dividend on their debts.

If you would like a chat to acstertain if these options are are of benefit, please give us a call.

CALL  01226 323130