-
-
Surprisingly common with small - & not so small - businesses. I've gone in as an interim / consultant (finance) for more than 1 business who have run out of cash when the CT is due. I see that more commonly than problems with paying VAT and I think that's due to the timings. HMRC chase late VAT pretty quickly these days.
HMRC will make 'time to pay' arrangements but you do have to jump through hoops. They want to know why the shareholders won't put more into the business (esp if they've taken dividends) and they want to see historic accounts plus forecasts. They will also ask if bank loans are an option - which they usually aren't if they are solely to enable a tax repayment.
Friend of OP needs to start talking to HMRC (preferably with an accountant).Comment
-
Thank you all for the comments. I took the advice from most of you and decided to walk away from it all.
I found out that this was not the first time this has been done.
The said person actually did the same with the previous business and companies house closed it down, resulting in 20K being wiped clean. I've a feeling this is why the said person has done it again. Got away with it once, so should get away with it again.
Don't think this is the case as HMRC stopped companies house this time. I don't know if they will be able to go after the first debt also?
SComment
-
Once a Company is disolved thats it there no chasing debts the debt die with it. HMRC stopping the closure is in trouble, he will have to have an interview with HMRC and there is troubles just start begining. I mean did you say the figures were 200K ? its neive to think you take such monies tax free in the UK.Originally posted by S45YTH View PostComment
Comment