Have received a notice from HMRC that they are taking action to wind up a partnership client of ours.
Never seen its like before.
I am just curious to know what they hope to gain. The partners are already severally liable for SA liabilities to the full extent of their assets. There is no registered trade mark, patents or marketable intellectual property. The partnership has an income stream but no assets to speak of. There is no body like Companies House at which a partnership needs to be registered, so what is to stop them re-forming a partnership the day after HMRC's application is granted?
With kind regards
Clint Westwood
Replies (1)
Please login or register to join the discussion.
You can't expect rational behaviour from HMRC. However are you sure they aren't getting a judgement for sums owed prior to making the partners bankrupt.This is common