Advanced warning; I'm about to bang on (again) about s.127(1) of the insolvency Act 1986, and what it means for companies faced with the presentation of a winding up petition. For those not in the…
Directors personal liability in costs in winding up proceedings
It’s not often we ask directors to personally fund costs of legal services following the issue of a winding up petition, but it is a necessary move given s.127(1) of the Insolvency Act 1986. For…
Time To Pay? New VAT Late Payment Penalties
It is now more expensive to be late when it comes to making a VAT payment. The slowest payers now face a 250% increase to an annualised rate. In addition, the rate of late payment…
Another Day, Another Validation Order…………
Another successful validation order obtained for our client. Many thanks to Kartikeya Sharma of 23ES for a brilliant job articulating what was a challenging case! Photo by GR Stocks on Unsplash
First aid for ailing businesses: let us help you!
Sadly, no matter where we are in the economic cycle, there are businesses which find themselves in distress. Given higher interest rates, increasing costs all round, not to mention the ever-increasing tax burden, it’s not…
Court of Appeal rejects HMRC’s argument for special treatment in winding-up dispute
There’s a new government in Westminster and a “black hole” in the public finances so, HMRC might be forgiven for feeling under pressure to increase its recovery of unpaid taxes. But what is unforgivable is…
Winding-up petitions on the rise in HMRC squeeze
With HMRC under pressure to collect more tax owed, it is moving away from the tolerance shown during the pandemic and back towards a normal level of debt enforcement activity. As a result, the number…