Business start ups – Get free advice
Setting up a new business can be a stressful time, as there are lots of questions to which you probably do not know the answers.
For a free initial meeting, contact Michael Fagelman on 01329 821900.
Consolidate Your Accounting Services With Us
For further information contact MFA Chartered Accountants and Insolvency Practitioners based in Fareham, Hampshire and covering Portsmouth, Southampton, Havant, Locks Heath, Petersfield, Waterlooville, Horndean, Titchfield, Lee-on-Solent, Emsworth, Park Gate, Warsash and all surrounding areas. Please call MIchael Fagelman on 01329 821900
Your accounts might be incomplete paper records residing in a couple of plastic carrier bags, immaculate computer records or something in between.
You may need regular accounts prepared, so you can keep a focus on your cashflow situation, be in the process of trying to obtain finance, or need your annual accounts prepared for the Inland Revenue.
We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts.Our first step is to work with you so we can gain a full understanding of your business. We then tailor our approach to your requirements so we can provide exactly the service you need.
For periods commencing on or after 6 April 2008, the threshold for a company requiring an audit is £6.5 million. Where there are several non related shareholders in a company we would recommend an audit.Though business owners traditionally regard the annual audit and preparation of annual accounts as a necessary evil that adds no value to the business - we strive to provide some benefit to the Company.
Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due. A first time bankrupt with debts will generally receive their discharge within one year after the date of the bankruptcy order.Although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual insolvency cases.
More and more people are now starting their own businesses , having either come up with agood idea for a new venture or tired of working for other people. Most who start up in business do so because they have a good business proposition and the enterprise and commitment to see it through. However, they are not necessarily expert at the legal, financial, and fiscal aspects of running a business.
Attending Business Meetings
We can accompany you to your finance house if you are seeking finance, additional finance or renegotiating terms. Where required, we can also attend your business meetings as a non-executive director, either as additional support or as a firefighter when tough talking needs to be done.
Tax Compliance and Planning
Business tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
Offering an invaluable tool for running a business, Management Accounts can be prepared on a monthly, quarterly or half-year basis. Whichever you choose, our assistance will put you in the stronger position of knowing exactly what is happening at the very heart of your business.
Many people are struggling with large debts as a result of the current credit crunch. Are you one of them? An IVA may be the answer to your problems. If you have over £20,000 of unsecured debts and can afford to pay a minimum of £300 per month for a period of up to 5 years (sometimes longer) then you can make an IVA proposal to your creditors, in full and final settlement of all your unsecured debts. The majority of people want to avoid bankruptcy as it effects are financially crippling not only for the period of the bankruptcy but far beyond in the terms of credit rating. In some cases bankruptcy can only be the best advice but a different debt solution is the IVA which was introduced as an alternative to bankruptcy by The Insolvency Act 1986. MFA Chartered Accountants and Insolvency Practitioners based in Fareham, Hampshire, located on the M27 corridor between Portsmouth and Southampton,also covering Portsmouth, Southampton Havant, Locksheath, Petersfield, Waterlooville, Horndean, Titchfield, Lee-on-Solent, Emsworth, Park Gate, Warsash and all surrounding areas. Michael Fagelman is the qualified and licensed insolvency practitioner A detailed overview of an IVA (Individual Voluntary Arrangement). An IVA is highly regulated by an Act of Parliament and is less likely to be open to abuse by those who offer this service. Only aLicensed Insolvency Practitioner, belonging to a recognised professional body, can act as your Supervisor. The IVA is not advertised in any newspaper unlike a Bankruptcy Order. A private contract, commonly known as a proposal, is written on your behalf to deal with claims of unsecured creditors in accordance with the Insolvency Act 1986. After the preparation of the proposal an Interim Order of the Court can provide creditor protection from debt enforcement and bankruptcy All unsecured creditors to whom the proposals have been sent, are bound by the Arrangement, even if they do not agree to the proposal, if more than 75% of your remaining unsecured creditors agree to the proposal. When the proposals are approved interest on debts normally cease from that date. Those creditors who are bound by the proposal cannot petition for your bankruptcy in relation to the debts in the Arrangement and also agree to waive the balance of their debt when the Arrangement has successfully been concluded. To see if an IVA is right for you please read the PDF booklet, Is A Voluntary Arrangement Right For Me? If you still have any queries, please do not hesitate to ring Michael Fagelman for a free and confidential discussion to determine your suitability for an IVA.
For further information contact MFA Chartered Accountants and Insolvency Practitioners based in Fareham, Hampshire and covering , Portsmouth, Southampton, Havant, Locks Heath, Petersfield, Waterlooville, Horndean, Titchfield, Lee-on-Solent, Emsworth, Park Gate, Warsash and all surrounding areas.