Specialist accountancy services provider to the freelance market JSA has confirmed that it entered into a company voluntary agreement (CVA) to pay £2.1m outstanding in PAYE, NI and VAT to the taxman.

In the course of what the company says was debt restructuring, on 30 November 2009 JSA Services entered into a (CVA) to pay £2.1m in outstanding PAYE, NI and VAT to the taxman, shortly after a new company was set up using a similar name - JSA Services (Watford).

On 14 September three of the directors of the old company, Richard Flood, Andrew Goodman and Andrew Yates were appointed as directors of the new company JSA Services (Watford).

Rick Flood, managing director of JSA, says: “JSA has never denied our debt restructuring which took place last year to protect the company’s finances and most importantly, our customers, who are our number one priority and we will vigorously pursue any allegations to the contrary. Unlike other businesses that are falling by the wayside on a daily basis, we are very buoyant right now and our financial situation is extremely healthy. I would like to personally reassure every one of our customers that they can still depend on JSA for excellent service both now and for many years to come.

“JSA would like to reassure all of our customers and contractors that, contrary to any other information they may have received over the weekend, we did indeed complete a debt restructuring at the beginning of December 2009 and this information has always been in the public domain.

“Since the introduction of JSA’s dynamic new management structure in 2008, the company has experienced a renewed energy and vision. Our business is now very strong and extremely well funded.”

On 7 December, Barry Roback and Victor Staunton, previously directors of JSA Services, both resigned from the new company (JSA Services (Watford)).

Roback, told Recruiter: “After 20 years, we thought that the new guys would do a better job than the one we were starting to do.”