2018 has been reported in insolvency news sources as the year of the CVA (Company Voluntary Arrangement) and in particular the Landlord CVA. The news has been full of established high-street names using CVAs to help streamline their businesses by looking at their leasehold commitments, closing some premises and trying to get rent reductions for […]
If a company or individual falls behind with TAX or VAT payments, there may be an opportunity to negotiate payment terms with HMRC, or enter into a formal Time to Pay Agreement (which we have looked at in a previous blog). Let’s assume that a company has been unable to agree terms with HMRC and […]
HMRC are running a test case to challenge one of the traditional approaches of dealing with an overdrawn Director’s Loan Account (‘DLA’) when entering a Members’ Voluntary Liquidation (‘MVL’). At the end of a company’s useful life, if it is solvent, it is normal practice to place it into MVL to enhance the tax position […]
If recent statistics are to be believed, some 86% of Company Voluntary Arrangements (CVAs) entered into between 2013 and 2015 have failed and an alternative insolvency process has been required. There are numerous reasons why a CVA may not work as intended however in the right circumstances a CVA still offers an opportunity to restructure […]
The new Insolvency Rules came into effect on the 6th April 2017. The new rules are already undoubtedly having a significant impact on the Insolvency profession. They represent the most significant shake up in the insolvency professional legislation for more than 30 years when the Insolvency Act was introduced in 1986. The changes have been brought […]