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?
- Giving investment company to spouse 46 2
- Paper 111 6
- Recommendations for in house accounts prep software? 85 2
- Accounting Web - What is happening? 387 14
- Late RTI submissions on change of accountants 241 5
- Xero Pain Points 320 14
- Tainted donation by company 167 2
- 2014/15 Tax calculation spread sheet 662 8
- HMRC incompetency 199 1
- Copies of every transaction can't be OK!! 630 10
- HMRC site down ? 264 5
- Tax Codes and VAT 216 3
- The importance of Grammar 1,007 25
- Renting home garage and outbuildings to Business 191 3
- VAT REGISTATIONS 237 5
- Why does Aweb always take the nuclear option … 2,897 65
- Moneysoft - technical query 405 10
- System selection 187 2
- is photo id necessary to set up a direct debit? 506 21
- Bookkeeping - Relevant Qualifications? 357 5
- Any knowledge of salesorder.com 361
- Chart of account segments; Balance sheet vs P&L 303
- HMRC RTI Filing Problem 289
- Goodwill and the Summer 2015 Budget 283
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 275
- Electric Car 231
- S222 Charge 204
- What is the best acounting software for online international retail business? 201
- Foreign Tax on Pensions 193
- Company Structure 181