How Will The IVA Affect My Business ?

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How Will The IVA Affect My Business ?

jordenandrew Rep Points:

Posted on July 13, 2009 at 12:33 am

Hello All Members,I run a business. How will the IVA affect my business ?Please share your suggestion here...

peterpanamerican Rep Points:

Posted on November 16, 2009 at 5:12 am

Hi there, what kind of business are you running?And here:"Businesses would be divided into winners and losers. Exporters would like a VAT to level the playing field with foreign competitors, but importers and their customers would pay. New businesses with high levels of investment would benefit, but established, capital intensive businesses would, in effect, pay a double tax having paid previously under the income tax. Labor intensive industries would be hard hit..."

Good To Me Rep Points:

Posted on April 14, 2010 at 5:19 am

I wonder if IVA (cause that's from the U.K. correct?) is the same as debt settlement (U.S.) - and if debt settlement companies actually accept businesses ..

Wendie Rep Points:

Posted on May 7, 2010 at 5:16 am

Here, this might help: "Under an IVA you can propose to continue trading the business in order to provide funds with which to pay off the creditors. Creditors are very wary of this, as it will usually mean obtaining further business credit facilities during the course of the IVA and assets that would otherwise be sold to provide funds for a dividend will be retained by the business in order to operate. You would need to convince the creditors that despite previous financial difficulties, these had now been resolved and that the business was fundamentally profitable. This would involve the production of a business plan with cashflow and profit forecasts to persuade creditors that the business can survive and generate an income sufficient to pay them. No creditor will support an IVA proposal reliant upon the continuation of a business if he does not consider the business itself is sound. In particular, the Revenue and Customs will not support such a proposal if excessive arrears of PAYE deductions and VAT have built up. Philip Beck is a Chartered Accountant and Licensed Insolvency Practitioner operating since 1996 with substantial experience in undertaking IVAs."

debtreliefnw Rep Points:

Posted on May 10, 2010 at 3:49 am

a little help. iva.net/blog/index.php?m=02&y=09&entry=entry090227-132334