Phoenix companies - is this a new record?
A timber frame company went bust recently and I checked out its directors. During the course of the past ten years, they co-ran 16 current or recently dissolved/liquidated companies (most are set up and then quickly dissolved as it happens, and one of them had three further companies too).
Is this a record?
I am aware from evidence at one of the recent creditors meetings that the directors know exactly what they are doing but I am quite curious see how phoenixing on this scale can be justified by any firm accountants.
So, has anyone worked for the firm of accountants who advised on this set up, or one like it? Obviously I can see that you have been doing very well abusing ESC C16 and according to what published accounts are around, I note that you were not keen on accounting for work in progress either, but tell me, how did you ever calculate how many associated companies to put in the corporation tax comp?
- BTC is slow 264 3
- Voluntary Disclosure 217 2
- Director registration for SA question 462 17
- How to revise RTI for Moneysoft 189 3
- Issues with freelancer taking zero salary from limited company 346 6
- Tax on LLP members drawings not covered by future profits 503 22
- valuation of vehicles 406 16
- Business only use of company car 694 26
- Dormant company late with their CH submission 509 14
- Penalties for late PAYE scheme 323 4
- Is there no lower level to the work a lawyer would take on. 963 29
- New Company reviews please 550 13
- How do you pay Inheritance Tax when HMRC haven't demanded it 316 4
- Ethical Issues / Conflict of Interest 274 2
- VAT with Russia 236 2
- VAT FRS percentage for sales person? 234 4
- Money Laundering Manual 304 11
- cgt quoted shares losses 251 2
- Scientist switch to accountancy - work experience? 1,123 29
- directors loan 373 8
- RTI Rollback to delete incorrect data 303
- Vouchedfor.co.uk 244
- Motor Traders Assistant Bookkeeping Programme queries 240
- Any thoughts on Capium? 235
- Tracesmart/Lexis Nexis AML software? Any opinions? 219
- auto enrolment 189
- Sage Compatible P60's Self Seal 177
- Continuity of practice-ACCA 158
- How to account for investment in JV? 152
- Recommended International mobile phone coverage and costs? 148