I have been contacted by a client from whom I usually hear once a year when he needs his personal tax return prepared (self-employed CIS subbie with usually c. £40/50k TO). I have now learned that in Autumn 2018 he was offered a large contract and that the contractor suggested him going Limited as he needed hiring c. 10-15 CIS subbies to do the work for at least next 6 months. makes me wonder why noone ever suggests contacting your accountant in such circumstances?
Cutting long story short, the Co has obtained CIS gross status, paid subbies net, mismanaged the finances and all the usual atributes of the story going wrong. No CIS returns have been submitted, the Co has no money in the bank with the expected CIS liability of c. £60k and DLA stands at (£20k). The contract is now finished with no new one in sight. The Co is clearly insolvent, director is willing to repay his DLA and thinks of liquidating the business. Anyone can recommend the liquidator in Birmingham/West Midlands area? (I am based in South East so not overly familiar with that part of the country)