Common Issues for Directors of Businesses in Troubled Waters
Rest assured you are not the only director of a business that finds itself struggling to get back on its feet following the impact of the Covid lockdown(s) on you and your customers. If your business is underperforming it is easy for problems to start spiralling out of control and it is crucial to get […]
What is the impact of new HMRC legislation on directors of an insolvent company: joint and several liability notice
In our experience, few people set out to run an insolvent business and, whilst HMRC recognises that the majority of insolvencies are for genuine financial circumstances, they are not turning a blind eye to those individuals who are looking to set up a phoenix company to rise from the flames of an insolvent estate merely […]
Directors of phoenix companies could find themselves personally liable
HMRC are looking to come down hard on individuals/directors of businesses who have run up tax liabilities in a business and are looking to avoid paying the liability by placing the company into an insolvency procedure (i.e. an insolvent liquidation) whilst setting up the same/similar business (a phoenix that rises from the flames of the […]
HMRC is looking to crack down on directors who repeatedly offend
Where an individual has been connected with repeated insolvent companies in the same or similar business sector, with outstanding amounts owed to HMRC, then HMRC is looking to crack down on directors who repeatedly offend and take action against those concerned personally. HMRC is looking at individuals who have run up tax liabilities in a […]
