Business Rescue & Insolvency Tools

Company Voluntary Arrangement (CVA)

A Company Voluntary Arrangement (CVA) is a deal between an insolvent company and its creditors. The company agrees to repay some or all of its debts from future profits or asset sales over an agreed period (usually three to five years). A CVA can allow for the balance of debt to be written off where it cannot reasonably be paid. RNF Business Advisory Limited’s turnaround experts often save companies by creating innovative, but realistic payment plans.

Informal Schemes

For smaller businesses or where problems are temporary, an informal arrangement with creditors may be suitable. Informal schemes minimise bureaucracy and costs. They often give creditors a much better return and avoid the negative publicity of a formal insolvency scheme. RNF Business Advisory Limited has a lot of experience negotiating informal schemes with creditors.

Section 1003 Strike-off

Under S.1003 Companies Act 2006, directors are entitled to request that a company be struck off if it has ceased trading, even if it is insolvent. It can be a cost-effective way of dealing with a small company where the costs of liquidation are prohibitive. The company has to have ceased trading for three months and have no assets. There are statutory forms to complete and known creditors receive notice and can object. HMRC may object if it believes directors have overdrawn accounts or if dividends have been paid to the detriment of creditors. The process is straightforward, although best managed by an insolvency practitioner, since there can be pitfalls. As of 1 March 2012 it is likely that the ESC 16 concession will be replaced by a statutory instrument governing the limits allowed to be distributed on company dissolutions which means that the MVL route is probably the most tax efficient method of shareholders withdrawing funds rather than using the Strike-Off process.


Now almost entirely replaced by administration, receivers can still be appointed by secured lenders, such as banks, to recover debt due to them. Receivers usually wish to work with management to sell the business as a going concern and maximise the funds realised. Banks can now appoint administrators instead of receivers, but the administrators’ duties are to all creditors, not just the bank.

If you require any business recovery advice, information or assistance, please contact us.

Working with you

We will work with you to explore your situation in detail and provide clear, jargon-free, honest advice. Rest assured, anything discussed with us remains confidential.

All initial consultations are free of charge and without obligation.

When you need help

Call Ruth on 01622 764 612
Call Filippa on 020 7253 7171

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Treat everything you share with us in confidence
Ensure that matters are finalised and brought to closure
Find solutions to resolve your debt issues
Communicate these clearly and keep you updated regularly
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"I would like to re-iterate my thanks to Ruth and her staff for putting my finances back on track, so efficiently and effectively. As a now retired person, I hesitate to imagine my financial outlook had you not successfully orchestrated my IVA."

Mr S

"The liquidator is Filippa Connor, and from discussing the issues involved, I have found her to be thoroughly professional and alert to our concerns about the behaviour of [the company in liquidation]."

Mr R Hulls, Independent Surveyors Association

"The most important thing about Ruth's approach is she is professional, not pompous. She is sympathetic to clients who have problems, listening and finding solutions..."

Mr M. Referring Accountant

"Ruth and her team helped me through a difficult time in a caring and supportive way. I know I can always go to Ruth for advice and guidance which will be given impartially and fairly for all parties concerned. This is very much an open, clear and professional relationship which I appreciate."


"Filippa's words of wisdom started me on a path of recovery and I will be forever indebted to her for her understanding and compassionate approach."

CEO from Devon

"I found Ruth and her team to be patient and approachable as they were always at the other end of the phone to answer any questions that we may have thereby providing us with comforting assurances as much as possible. They were also frank and candid in telling us where they did not have an answer."

Mr L Company Director

"Dear Filippa, thank you for delivering an impassioned speech on the issues that frustrate you and your fellow practitioners. We feel sure the points you raised were noted by those who mattered and we are especially grateful for your commitment."

Peter Sargent & David White R3 (Association of Business Recovery Professionals)

RNFBA on Twitter

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