Accountants who are licenced insolvency practitioners can assist by providing general services in the bankruptcy process. It is a preferable choice to use an accountant as they are seen as less intimidating to other options.
Services such as creating financial statements, verification of assets, witness duties, forensic accounting, liquidation and more.
An Individual Voluntary Arrangement (IVA) provides a formal agreement between an individual and creditors for repayment of debts. If both parties agree then an individual can avoid bankruptcy and still reduce a significant portion of the debts they owe.
An IVA is not always the best choice but for some it may be the only option especially is the stigma or restrictions of a full bankruptcy may have severe repercussions.
An accountant can advise on this sensitive area.
Pensions are a broad area and have gone through many changes in recent years, from the obligations of employers and auto-enrolment through to the revised rules of accessing the pension pot.
Accountants can advise on all aspects from dealing with administrative obligations through to provide forecasts for implications of scenarios related to specific circumstances.
A suitable accountant can manage the whole financial planning and investment portfolio umbrella. From providing advice on investments through to structuring savings, protection, IHT, estates and more to be in the best interests for the client.
Savings are another area that have had significant changes in recent years – from changing the way in which banks/building societies tax interest to the allowances provided.
An accountant can provide advice on structuring savings, tax matters, administrative issues and more.
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