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?
- VAT Invoice 248 7
- VAT on sale of an Asset 106 1
- Cash in Hand 203 3
- Buy to let and capitak gain 207 5
- are receipts needed? 642 17
- SA302's anyone?? 630 18
- Charge for use of credit card - permitted 340 8
- High value residential property - SDLT 15% 165 1
- 2013/14 failure to submit end of year submission 360 12
- Busines software 196 5
- Goods Purchased for Rental 224 6
- Converting a barn for business use 192 2
- Sale of house with planning permission - tax free? 324 4
- Flat rate Vat Scheme & Vat on wholesale production of Cakes and other deserts 333 12
- HMRC overreaching its powers -again against a small surveying firm? 499 10
- Going to need a tax, insolvency and legal specialist I think 351 3
- Bookkeping software 743 7
- Clogged Losses 293 5
- Letting relief on property transferred to a spouse 289 9
- ideas for a bonus scheme for accountants 673 10
- Nil Rate Band Trust - index linked debt by way of charge over property 911
- International interest certificate 525
- NOVA 375
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 337
- Management expenses for investment company 279
- Bonus Bonds 277
- Entertainer withholding tax in Australia 187
- EXACT ONLINE 172
- Insolvency and whistle blowing 172
- P11D benefit received by widow 168