In an absolute mess with Corporation Tax

[northernladuk]

He was referring to an accountancy firm as being "nationwide", not a bank...

I think he deserves a for that!

[barrydidit]

You've already told us it was Nationwide so why hide the fact?

As for more established banks, the nationwide is one of the largest financial institutions in the UK and has been trading over 134 years . In 2016, the bank reported total assets of US$276 billion and posted a net income of US$1.3 billion.

This makes them the 5th/6th largest financial institution in the UK - not sure why you would say they are not established

Not quite

I have raised the issue with the nationwide, call-centre style accountancy firm

Top rant though.

[barrydidit]

He was referring to an accountancy firm as being "nationwide", not a bank...

I think he deserves a for that!

That misplaced comma has a lot to answer for

[oilboil]

That misplaced comma has a lot to answer for

It's my education that is at fault here, I was taught how to use comma's correctly. Unfortunately I therefore assume everyone else does this too!!!

[Hobosapien]

...
I don't like things being left in limbo, and I am flirting with the idea of returning to contracting, but it sounds like a winding up order might end up being my best option, although rather perversely, if the company gets wound up and then the FOS finds in my favour, that'll leave me £6k better off, surely?!?!
...

If you think using a ltd if you return to contracting is the best way for you (existing changes to public sector and similar potential changes to private sector may mean an umbrella or other payroll option is better than ltd regarding being inside IR35) then you have two main options:

1. Continue with the existing ltd and pay off the corp tax bill with profit from any new contract (or personal loan to Ltd if can get the money privately), while awaiting a decision on whether the £6k will be returned to your company by the bank.

2. Close the old ltd and open a new one. The limited liability of the old one will likely mean the debt dies with the closure, but that's at HMRC's discretion. You would need to close the bank account as part of that winding up process so return of the £6k afterwards would not be possible. I guess the bank would send you a cheque made out to your ltd in absence of an active account with them, but I don't think you would be able to cash it or sign it over to HMRC.

[fiisch]

No, not The Nationwide Bank - “nationwide, call-centre style accountancy form”.

The bank is “GashMinus” - 3.2/10 on TrustPilot and a popular choice for speed/ease of setup.

Thank you for the advice. I’m going to have one final plea with the FOS to look at the case soonest, but it looks like an unethical winding up may be my only option in this case.

Maddening and unfair situation- will contact MP as suggested.

[Lance]

It's my education that is at fault here, I was taught how to use comma's correctly. Unfortunately, I therefore assume everyone else does this too!!!

ftfy

[Lance]

I'd suggest you simply wind the company up as insolvent (you have a legal obligation to do that anyway).
It's a limited liability company so HMRC can go whistle.
Unless they can prove you've been negligent, or broken any laws they cannot pursue you personally for the money.

[MrButton]

The bank is “GashMinus” - 3.2/10 on TrustPilot and a popular choice for speed/ease of setup.

Clever - I assume you mean CashPlus is the bank.

Assume the accountancy firm got a kickback (monies) when they recommended.

[1manshow]

It's my education that is at fault here, I was taught how to use comma's correctly. Unfortunately I therefore assume everyone else does this too!!!

Shame they didn't teach you how to read the whole sentence (thus identifying the comma error) to comprehend what the OP meant.