A CVA, or Company Voluntary Arrangement, is the corporate equivalent of an IVA (Individual Voluntary Arrangement), and both represent a commitment to clearing what you can from the debts that you owe.
Taking out a CVA also represents a desire to continue trading and, with the support of your creditors, to recover your business to a more stable financial footing.
RPG’s team of insolvency practitioners can prepare the necessary documentation and submit your CVA proposal to your creditors for approval.
Once in place, this agreement allows you to continue trading, with a view to clearing some of your debts over a specified period.
The amount you owe is frozen at the point the arrangement is made, and creditors are given clear expectations of how you will repay them, and when.
Monthly payments are typically made out of your trading profits and, at the conclusion of the arrangement, no debts are considered to remain outstanding.
A CVA, therefore, represents full and final settlement of what you owe.
With the arrangement in place, you can focus on running your business in a profitable way, without having to continually fend off your creditors.
In terms of time span, a CVA usually lasts for five years, but can be made much shorter if it is possible to clear a lump sum of your debts, potentially through the refinancing of assets.
We have received an excellent service from the team at RPG for well over 20 years. We particularly appreciate RPG's real interest in our company and suggestions for improvements. The service RPG provides goes well beyond what we could expect. The attention to detail and the prompt, professional service the team provides means that we are reassured that should we require urgent or unusual advice, the team will provide it. We would have no hesitation in recommending RPG.
Executive Chairman - SheffProp
I would like to thank RPG for your unbelievable help, assistance and friendship for over 40 years. Nothing has ever been too much trouble. Words alone are insufficient, and I think that the same would apply to my former colleagues and my family who have also come to rely on your advice and guidance.
Founder - Neville Johnson Offices
We have worked with RPG for many years, for good reason. They are not only extremely knowledge but they really take the time to get to know you as customers and also as people. This really makes a difference, as whilst it is of course important that you receive great service, which we do, it’s also essential to work with professionals who you can really trust and who go out of their way to know your business as well as you do, giving ultimate comfort that you are all striving towards the same goals. I cannot recommend them highly enough.
“RPG have always been our first point of call for advice on accounting, tax and financial regulatory matters and indeed have become an additional sounding board for both myself and my colleagues on strategic matters. The consistently high quality and timely advice they provide is very important to us.”
Chief Financial Officer - ProofID
“As a family business we have been using Royce Peeling Green as our accountants for over 25 years. We have always been impressed with their expertise and depth of knowledge in all financial areas required to help run our business. There is an obvious understanding and trust between the two companies which leads to proactive approach to guide us with short and long-term financial planning. We have found everyone at Royce Peeling Green to be very approachable providing us with the reassurance that they will always provide a professional response in a timely manner.”
Managing Director - Manchester Slate Ltd
RPG have now acted for our various companies for over 15 years. Their advice and commercial attitude in dealing with Tax, Audit and general businesses matters has always been of high quality and queries dealt with promptly. The team at RPG are experts in their field, they understand the SME market place well. They have been involved in all our corporate transactions, from setting up of businesses, ongoing support of our management teams through to being part of the team that negotiated the successful sale of a group company.
Genesis Group International
We have received a first rate service from RPG over many years. We appreciate their attention to detail and the timely, professional and pro-active advice they provide. We would have no hesitation in recommending the team at RPG.
Managing Director – Ribble Packaging Limited