Tract Management Ltd.
The sad situation from Friday is affecting a lot of people. Here are some home truths... my best advice is to kiss the money goodbye. Here are the clues;
1) The letter is dated the 14th July, a day before the FX transfer.
2)The supplier Worldwide IT supposedly went out of business on the 11th July.
3) A notice was lodged with Companies house for resignation of the Company Secretary (whose duties are finances) on the 12th July.
4) The letter goes to great lengths to explain the tax situation and point out what staff are liable for etc.
5) The letter is a photocopy and a bad one at that
6) They have been closing this down for weeks because documents to companies house take 14days to process.
7) They have not left any contact details and there is no indication where the records are.
8) Last and most importantly - is there any letters from the Liquidation company??
Theories are;
1) They have gone bust by putting the money in a bad short term cash investment.
2) They are being investigated by the Inland Revenue.
3) They have, after 6 years managed to collect enough cash to do a runner and set themselves up. Books on companies house show they were stashing cash for contractors of £35,500 in the first year. Last year they registered cash assets on the books of £350, 000. (suspect this is a percentage only ie all of the monthly wages and the rest was offshore).
Make your own summation, but the operative word here is 'scheme' and highly doubtful it's legal. Advice?? Forget about it and move on. If you try to find these people or report them, it will open the books up to the tax office and other authorities, not a situation you really want for yourself or everyone else on the books.
Last note - Check with your agent and see if they have CHAP'd the money to Tract yet. If not or if they have just done it in the past 24hrs then you MIGHT have a chance of them reversing the payment. Chances are if you work in a large bank/company the invoice would have gone a week ago!
Take care
The sad situation from Friday is affecting a lot of people. Here are some home truths... my best advice is to kiss the money goodbye. Here are the clues;
1) The letter is dated the 14th July, a day before the FX transfer.
2)The supplier Worldwide IT supposedly went out of business on the 11th July.
3) A notice was lodged with Companies house for resignation of the Company Secretary (whose duties are finances) on the 12th July.
4) The letter goes to great lengths to explain the tax situation and point out what staff are liable for etc.
5) The letter is a photocopy and a bad one at that
6) They have been closing this down for weeks because documents to companies house take 14days to process.
7) They have not left any contact details and there is no indication where the records are.
8) Last and most importantly - is there any letters from the Liquidation company??
Theories are;
1) They have gone bust by putting the money in a bad short term cash investment.
2) They are being investigated by the Inland Revenue.
3) They have, after 6 years managed to collect enough cash to do a runner and set themselves up. Books on companies house show they were stashing cash for contractors of £35,500 in the first year. Last year they registered cash assets on the books of £350, 000. (suspect this is a percentage only ie all of the monthly wages and the rest was offshore).
Make your own summation, but the operative word here is 'scheme' and highly doubtful it's legal. Advice?? Forget about it and move on. If you try to find these people or report them, it will open the books up to the tax office and other authorities, not a situation you really want for yourself or everyone else on the books.
Last note - Check with your agent and see if they have CHAP'd the money to Tract yet. If not or if they have just done it in the past 24hrs then you MIGHT have a chance of them reversing the payment. Chances are if you work in a large bank/company the invoice would have gone a week ago!
Take care
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