Advice Required

Discussion in 'Insolvency' started by Ofd3089, Jan 31, 2018.

  1. Ofd3089

    Ofd3089 UKBF Newcomer Free Member

    1 0
    Good afternoon all,

    I have a limited company with a CT debt of around 11k. I have not traded under the company name for the past 3 months and the 1st notice was posted in the Gazette about a month ago.

    I can not raise the funds to pay the CT debt and also no assets. If I've read correctly the company will be wound up in another month. Taking the debt with it.

    The issue is I've received a letter to say that a HMRC field agent has tried to visit to try and collect payment for the debt from my home.

    I'm unsure what to do regarding this. Can they remove personal items to cover a limited company's debt? And should I just hold out for a month to see if the company will be struck off?

    Any advice is welcome.

    Many thanks.
     
    Posted: Jan 31, 2018 By: Ofd3089 Member since: Jan 31, 2018
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

    13,525 2,921
    The debt is the company's, not yours, so the bailiffs cannot remove personal property to pay a company debt. Do you owe the company any money?
     
    Posted: Jan 31, 2018 By: Scalloway Member since: Jun 6, 2010
    #2
  3. g

    g UKBF Regular Free Member

    216 45
    As advised by Scalloway, you should have no personal liability for company CT - and hence your possessions are outside the scope of any appropriate action.

    Slightly relevant...
    • It's normal for HMRC to object to strike-offs when there's a debt.
    • The ultimate decision is CH.
    • To what extent HMRC pursue the debt, which can delay strike-off, is dependent upon the likelihood they'll recover it.
    • Sometimes (fraud/neglect/misfeasance/wrongful trading and for NIC, VAT, CGT, PAYE - but not, to my knowledge, CT) they'll legally pursue directors personally.
    • The letter/visit is likely to have been to 'discuss' rather than 'collect' the debt.
    • It's probably worth contacting HMRC and asking for clarification of the basis upon which they're contacting you.
     
    Posted: Jan 31, 2018 By: g Member since: Jan 29, 2018
    #3
  4. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    2,047 256
    Can I copy and past that for future posts g! ;-)
     
    Posted: Jan 31, 2018 By: Lisa Thomas Member since: Apr 20, 2015
    #4
  5. g

    g UKBF Regular Free Member

    216 45
    Woo-hoo!

    Yes, of course, please do.
    Thanks.
    :)
     
    Posted: Jan 31, 2018 By: g Member since: Jan 29, 2018
    #5
  6. Mr D

    Mr D UKBF Legend Free Member

    8,263 845
    If home address is the address they have for you then that's the one they will try and visit.
    What they want and what you can provide are two different things. Company has no income and no assets then any debt the company has cannot be recovered.
    Company is not you. Its debts are not your debts.
     
    Posted: Jan 31, 2018 By: Mr D Member since: Feb 12, 2017
    #6
  7. g

    g UKBF Regular Free Member

    216 45
    Except...
    • In the circumstances noted earlier... Sometimes (fraud/neglect/misfeasance/wrongful trading and for NIC, VAT, CGT, PAYE) HMRC can legally pursue directors personally.
    • Other instances where Courts decide there are grounds for personal liability.
    The 'corporate veil' is not an absolute, and shouldn't be considered as such.
     
    Posted: Jan 31, 2018 By: g Member since: Jan 29, 2018
    #7
  8. Mr D

    Mr D UKBF Legend Free Member

    8,263 845

    For most of us its not going to be removed.
     
    Posted: Feb 1, 2018 By: Mr D Member since: Feb 12, 2017
    #8
  9. g

    g UKBF Regular Free Member

    216 45
    My point in posting is to provide factual and objective info.

    If your remark is to be interpreted to infer something like 'so don't bother about it'... that's not helpful.

    Instances of 'veil piercing' are increasing, particularly with HMRC.

    Hence, a 'hope for the best' outlook akin to 'it's dark and there's nobody looking so we'll probably be ok' isn't wise.

    'Oh, sorry, I didn't realise...' ignorance of the law and other relevant issues is never a good thing... as many who've been in such situations will likely attest.

    And forums, along with lawyer and accountant waiting areas, are full of people with an 'I'm in the s***, what can I do?' problem... hence the value of forewarned-is-forearmed objective and factual info.
     
    Last edited: Feb 1, 2018
    Posted: Feb 1, 2018 By: g Member since: Jan 29, 2018
    #9
  10. Simon Green

    Simon Green UKBF Regular Free Member

    105 9
    Trust based on very recent personal experience; hence the following:
    Implement the Spongebob formula and plan and simply persevere and ultimately Yes, dissolution means all company debts are gone!!!
     
    Posted: Feb 1, 2018 By: Simon Green Member since: Dec 4, 2017
    #10
  11. Mr D

    Mr D UKBF Legend Free Member

    8,263 845

    And needlessly adding to the worry people has improves their lives in what way?

    By all means provide a factual response, just do not be surprised if others add comments.

    Then the people in the s*** as you put it will have all the info they need not just some.
     
    Posted: Feb 1, 2018 By: Mr D Member since: Feb 12, 2017
    #11