lady in a field lifting her arms in joy as she has no more debts to worry about

Cloud Accountant (who are part of umbrella.co.uk – Umbrella Accountants LLP) have added a Corporate Rescue and Personal Debt Solutions arm to their current business.

Personal Debt Problems

If you are struggling managing repayments on a number of debts , live in England or Wales and have insufficient assets to repay your debts in full then an Individual Voluntary Arrangement (IVA) could help provide a debt solution.

IVA’s were introduced to help people with significant debt problems who did not want to go down the route of the more stringent process of bankruptcy. Often people are put off by theupfront cost of applying for bankruptcy or the fact that bankruptcies are advertised in your local newspaper.

In simple terms an IVA must be processed by an Insolvency Practitioner (an IP). The IP puts together a summary of your current financial situation to show your creditors that you are currently unable to repay your debts in full. The IP also puts together a proposal showing a compromise and what you can contribute over the next 5 years.

Small business owners: 5 things to do before you take a holiday

Getting away and taking a holiday is crucial when you’re a small business owner. It helps you take a step back and plot the company’s trajectory, and more importantly, it gives you the chance to relax and recharge your batteries.
As the summer draws in, we’ve put together a short list of everything you can do to make sure you have the most enjoyable and distraction-free holiday possible.

Cloud Accountant Tax Reclaim Service

Cloud Accountant (a part of Umbrella.co.uk) now offer a tax reclaim service through their website.
Many people do not know they can claim tax relief in respect of cleaning your own uniforms or protective clothing, some union and professional subscription fees and tools or equipment you have bought personally to enable you to do your job.

image of money graph chart displaying rise in income

New research suggests that more and more small businesses are being turned down for traditional business financing.
A study from alternative investment company Amicus found that one in six (16%) of small businesses had been rejected by a mainstream lender like a high street bank, and many of them were turning to alternative routes of funding instead.
But what alternative routes are available, and what types of business are they viable for? We’ve identified four of the most promising types of alternative funding and evaluated them below.