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Monday, 24 May 2010

The Voluntary Arrangement Service - Pragmatic Deal Makers for CVA's

The hyperlink above is a useful link to the Combined Voluntary Arrangement Service website:

Please read that site to answer the question:

"Why would HMRC allow a CVA to repay only part of the debt we owe for PAYE and VAT?"

I hear this question every day from accountants and directors when we suggest CVA is a great tool, to restructure HMRC and trade creditors' debts. Most say well the tax collector won't do any more deals with us....but CVAS can!

The answer is contained in the final sentence on this web page, produced by HMRC:

Collect all you can by being cost-effective and commercial.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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