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T O P I C R E V I E W
paulg
Posted - 24 November 2008 : 08:58:33 Good morning
I have a question if my business partner's other company is entering an IVA this week through none payment of a small amount of VAT. Can this effect our company which is LTD and completely seperate to his company. Our company is completelty up to date with all payments.
I look forward to your response in due course.
Regards
Paul
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 24 November 2008 : 09:02:56 Hi Paul
if the other company is a Ltd company then they would be entering a CVA ( Company Voluntary Arrangement) and in theory would have no impact upon you.
However if your friend has a Trading As ( sole trader business ) business or if the other Ltd company has personal guarantees if something goes wrong then they may look at his assets which would clearly be his holding in your company.
I would really encourage you to have a frank conversation with your partner and understand what he is doing and then we can give you fuller answers.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
