Need Help?
Let our team of experts help you.
Individual Voluntary Arrangements (IVA)
An Individual Voluntary Arrangement (IVA) is a debt solution involving a legally binding agreement with your creditors to pay all or part of your debts over time.
This option gives you more control of your assets than bankruptcy and, as it is approved by the Court, creditors are required to stick to the agreement.
You can only get an IVA with the help of a qualified insolvency practitioner (a lawyer or accountant) who you then make direct payments to. They then distribute the payments between your creditors.
By choosing an IVA, you can work out a repayment plan with the insolvency practitioner based on what you can reasonably afford – this also needs to be agreed by creditors.
Repayments can vary, whether that’s monthly payments, a lump sum, or a combination of the two. If you haven’t paid back your debts in full by the end of your IVA agreement, you’re not required to pay the remaining amount.
Our preferred partner network of recovery and insolvency specialists are on hand to offer trusted advice on whether an IVA is the best solution for you. Our partners can guide you through the setup process, review your finances and put forward the IVA proposal to your creditors.
If you’re interested in finding out further information, please get in touch with our team.
Get a call back
If you need to speak to us about a general query fill in the form below and we will call you back within the same working day.
News and Insights
- 25
- May
The UK is Set to Plummet 16 Places in the Global CT League Table
The UK Government’s decision to put up Corporation Tax from 19% to 25%, taking effect from next April, will cause the country to fall 16 places on the global ‘league table’ for corporate tax, fr…
- 20
- May
Fisheries and Seafood Scheme Relaunched
Marine Management Organisation Relaunch the Fisheries and Seafood Scheme The Marine Management Organisation (MMO) has relaunched the Fisheries and Seafood Scheme to safeguard the long-term sustainabil…
"After taking the plunge to work as a Freelance Geophysicist I have had no regrets in utilising the services of Matt and the team at TS Partners. Matt is clearly a very experienced and knowledgeable accountant who's obvious aptitude quickly made me feel that my financial matters are in safe hands. TS Partners have provided me with a very professional, efficient and friendly accountancy service. Everything I have ever asked for help with has been remedied very quickly. In particular, Emma Fisher-Rye's bubbly phone manner has made learning QuickBooks straight forward and fun. She's always available to help with any issue, no matter how big, small or stupid!"
TS Partners
2020-06-12T09:31:13+00:00
Andy Baker
https://www.tspartners.co.uk/testimonials/excellent-professional-and-friendly-service/
Having TS Partners Accounting do our accounts, VAT and payroll leaves us to get on with what we know best, running our shop. We know we are in good hands!
TS Partners
2020-06-12T09:42:59+00:00
Kevin Godding
https://www.tspartners.co.uk/testimonials/we-know-we-are-in-good-hands/
Very helpful, easy to talk to, understands small business, an important part of my power team.
Recommend to anyone in business for great down to earth advice at a sensible price.
Recommend to anyone in business for great down to earth advice at a sensible price.
TS Partners
2020-06-12T09:38:44+00:00
Mark Lyes
https://www.tspartners.co.uk/testimonials/recommend-to-anyone-in-business/
"I established my company in 2011 and Matt and team have supported me all the way. Until 2011, I had only experienced the world of large corporate accounts which meant a team of accountants to take care of everything. So the prospect of managing my own accounts was one that I was not entirely comfortable with. I was introduced to Matt by my neighbour and have not looked back. The whole experience has made my life simpler and nothing is too much trouble irrespective of which member of the team you speak to. More recently, changes in the VAT rules caused me to switch my accounts to Quickbooks, a move that I had been delaying as this was going to be another application to learn. Fortunately Emma Fisher-Rye was there to help. Emma provided initial use training and helped me to establish my accounts in Quickbooks. Since then Emma has supported me without fuss and in a very jolly supportive manner making light of my ineptitude. Overall, working with the Tax-Shop team has been refreshing and very supportive and I would certainly recommend them to any SME looking for a cost effective solution to management of their accounts."
TS Partners
2020-06-12T09:36:11+00:00
David Walton
https://www.tspartners.co.uk/testimonials/refreshing-and-supportive/
"Just started with Matt and the team and they have all been brilliant so far. They are all very knowledgeable and Matt has helped me to work out and understand the most tax efficient setup for myself and my business activities. Matt and the staff's communication is the best I have ever experienced from any company, extremely quick to reply to emails usually within minutes for simple queries and within the day for more detailed queries, which is really amazing service. Had a quick books training session as well with Emma which was great, she makes it all seem clear and was able to easily answer all the questions I had. I would highly recommend at least arranging a meeting with them if you are looking for accountancy services."
TS Partners
2020-06-12T09:24:57+00:00
Simon Sobczak
https://www.tspartners.co.uk/testimonials/very-positive-experience/
"I started my small business 2 years ago with very little experience in bookeeping, tax etc. I found Matt through a friend, he and his team are very helpful, they make it all sound easy, and respond to questions almost immediately. Emma did a Quickbook training for me, she was very nice, very knowledgeable, took it at my own pace and made it seem so simple! Brilliant service, thank you."
TS Partners
2020-06-12T09:25:30+00:00
Mathilde Granger
https://www.tspartners.co.uk/testimonials/very-knowledgeable-helpful-and-super-responsive/
At first I was completely baffled with all that was needed to start my own company and had no idea where to start. After a short consultation with Matthew, the whole process seemed a lot easier than first imagined!
Once the basic setup was sorted I was allocated Emma, who was available then to guide me should I have any queries! Thorough training on Quickbooks and always available (within office hours) to sort my mess up or any queries no matter how mad they seemed! Always willing to help and no task to small! Thoroughly recommend Emma to anyone looking to use TS Partners as their accountants!
5 months in and still running smoothly! With no grey hairs in sight! (YET!)
Thanks to Emma, Matt and the team at Tax Shop, Wellington
Once the basic setup was sorted I was allocated Emma, who was available then to guide me should I have any queries! Thorough training on Quickbooks and always available (within office hours) to sort my mess up or any queries no matter how mad they seemed! Always willing to help and no task to small! Thoroughly recommend Emma to anyone looking to use TS Partners as their accountants!
5 months in and still running smoothly! With no grey hairs in sight! (YET!)
Thanks to Emma, Matt and the team at Tax Shop, Wellington
TS Partners
2020-06-12T09:41:02+00:00
Dominic Buck
https://www.tspartners.co.uk/testimonials/the-whole-process-seemed-a-lot-easier-than-first-imagined/
Since setting up my business 4 yrs ago the advice and support I have received from Matt and his associates has been exemplary. Now after being introduced to QuickBooks I have been given good advice and basic training by Emma who also gave me the confidence to use QuickBooks not only for the accounts but also to monitor the day to day running of my small business. Overall it has been an excellent experience.
TS Partners
2020-06-12T09:44:38+00:00
Ian Tarry
https://www.tspartners.co.uk/testimonials/overall-it-has-been-an-excellent-experience/
"The training for quickbooks received has been awesome. Super helpful and training was delivered professionally and in a way that was easy to understand. I didn't think I'd ever be excited about my book keeping!! Couldn't recommend them enough."
TS Partners
2020-06-12T09:32:30+00:00
Lee Ellis
https://www.tspartners.co.uk/testimonials/superb-training/
9
TS Partners