I act for a property development company. One of the 2 directors decided it would be tax beneficial to buy a property in her own name with an overdrawn DLA. This has resulted in a hefty S455 bill which is now seriously overdue. The only asset the company has is the DLA. Based on the said directors past performance (very complex) my instinct is to advise the other director to arrange a charge to be put on the property which apparently has very recently had an offer made on it. Can anyone advise if this is possible?
11th Jun 2016
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