Recent content by Gavin Bates

  1. Gavin Bates

    How long to wait for tax refunds from estate of Ltd Co after MVL?

    Is the CT period pre or post the appointment of the liquidator? I am afraid Chat GPT isn’t correct because the appointment of the liquidator starts a new accounting period so the first CT return is due 12 months after the appointment. https://www.gov.uk/company-tax-returns Confirms you have 12...
  2. Gavin Bates

    Closing company via MVL route, advice required on final accounts please

    Hi I agree with Elliot better to prepare and submit final accounts to HMRC to the position is clear. No need to deregister for VAT as the IP can do that when appointed. Hope this helps. Happy to give you a quote if it helps. Kind regards Gavin
  3. Gavin Bates

    How long to wait for tax refunds from estate of Ltd Co after MVL?

    I appreciate this is very frustrating, but we have examples where HMRC claimed not to have received returns, and then when presented with the evidence they were submitted, they accept they have received them. The good news is that HMRC are getting better so hopefully it will be concluded soon...
  4. Gavin Bates

    Cost effective insolvency

    Hi I think Oliver and Lisa have summarised the options available so nothing further to add other than to back up the advice already given. Best Wishes Gavin
  5. Gavin Bates

    Has anyone hear of this company and are they legit?

    Ben I am an Insolvency Practitioner but if you could let me know what region you are in I could suggest someone local to you. Kind regards Gavin
  6. Gavin Bates

    Has anyone hear of this company and are they legit?

    Hi As you will have seen in the chat a company offering this service was closed down by the Insolvency Service. Yes, they will set up again no doubt. Talk to an Insolvency Practitioner (IP) about your issues. Any good IP will offer a free initial meeting which will be confidential. Talk to...
  7. Gavin Bates

    What to expect when HMRC apply for a winding up petition

    Hi Just a quick note to say that @Chris Callaghan has provided very clear advice which I totally agree with. If you provide the OR with any information requested you should find it to be a smooth process. The only additional comment I would add is don’t be surprised if you don’t hear anything...
  8. Gavin Bates

    Negotiating With Liquidator Over DLA

    Hi We will ask for further information so yes copies of mortgage statements, sometimes copies of bank statements etc. Generally, the main problem is that the director has just lost their main source of income. For larger amounts, you may consider engaging solicitors or even consider...
  9. Gavin Bates

    Negotiating With Liquidator Over DLA

    In essence, we need to show that any offer that we accept whether it is a full and final settlement or installments is reasonable given your circumstances.
  10. Gavin Bates

    Negotiating With Liquidator Over DLA

    Hi I am sure I can talk for most IPs but a liquidator can look at some form of settlement they will need an income and expenditure statement and an asset and liability statement. From there they can if what is fair and reasonable. Regards Gavin
  11. Gavin Bates

    Liquidation/Administration help

    In reply to your question, the active involvement of a director in a small liquidation is about 3 weeks (although most likely will only be a couple of days work in this time frame). Whilst most liquidations take about a year after the first 3 weeks or so it could be as simple as a phone call...
  12. Gavin Bates

    Liquidation/Administration help

    I can see that others have answered your questions above which all seem fair because it will always depend on each companies individual circumstances. Kind regards Gavin
  13. Gavin Bates

    Possible to claim redundancy payment without liquidator?

    As highlighted by Frank this scheme is for ongoing businesses and is in effect a loan that needs to be repaid, so won't fit the circumstances of the original question.
  14. Gavin Bates

    Insolvency or carry on

    I agree with Frank have a deatailed look at what this year will look like. Most IPs will be happy to sit with you for an hour to chat it over and explain the alternatives which should allow you to make an informed decisio.
  15. Gavin Bates

    Sole Trader Business Bank Account for a banned director

    Chris Difficult question to answer but my first thoughts would be to try to get a basic bank account as these should be available to anyone. Best wishes Gavin
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