I have been trading a limited company (its a pub), we expanded to a second venue under a new company which has not worked. Pressure on first venue has destroyed cash-flow, business has been neglected and needs care and attention to get back on track. Can be sustainable, just needs some help dealing with creditors. Notice of HMRC field visit looming for VAT of £5,000. Help and advice on CVA to rescue please unless you can suggest something else
We would need details of the company’s assets and liabilities before advising on the best/most appropriate option. However if HMRC are the largest creditor and are owed £5000 a CVA is unlikely to be appropriate as the costs of the arrangement would likely outweigh the creditor claims. In these circumstances an informal time to pay arrangement with HMRC would probably be the best option if they are the only pressing creditor.
12th December 2018
Small and medium-sized enterprises (SMEs) across the UK are paying increasingly large sums of money to collect amounts owed to them by their clients and customers.Read More
4th December 2018
The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.Read More