Another insolvency question

Discussion in 'Insolvency' started by Goingunder, Nov 7, 2018.

  1. Mr D

    Mr D UKBF Legend Free Member

    17,687 2,018

    Send the letter. All it will cost you is a stamp and may save you some time and aggro from debt collection.
    Don't send the letter and any creditor will carry on doing its debt collection routine. They can do that after the letter too of course but at least they then they will know what the situation is.
    Expect some including HMRC to chase the company for payment until it is dissolved no matter what you send.

    You cannot avoid agents or bailiffs turning up at the address, short of providing a new address for the company. Not that they can do much with a residential property or a place your business is not at.
     
    Posted: Jan 18, 2019 By: Mr D Member since: Feb 12, 2017
    #21
  2. Spongebob

    Spongebob UKBF Ace Free Member

    2,169 1,095
    Sending the letter to all creditors- particularly HMRC - is an exercise in arse covering.

    It gives creditors the specific information that the company has ceased trading as per a particular date. It protects you from potential future allegations that the company traded while insolvent. It also informs creditors that the company is completely skint and that there is no point spending further money or resources pursuing the debt.

    It is doubtful that HMRC will respond directly to the Spongebob letter, but it go into your file.

    There is anecdotal evidence from many followers of the Spongebob Plan that HMRC go quiet after the letter is received other than the normal computer generated letters. I suspect that this is the case and that their field agents are directed to companies where there is more chance of recouping significant monies.

    The letters buy time. If the company’s Confirmation Statement becomes due in the interim simply not submitting it will automatically dissolve the company within 12 weeks.
     
    Posted: Jan 18, 2019 By: Spongebob Member since: Dec 9, 2008
    #22
  3. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,196 386
    You are welcome. Best of luck with everything.
     
    Posted: Jan 18, 2019 By: Lisa Thomas Member since: Apr 20, 2015
    #23
  4. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    Guys I emailed over the letter to someone chasing for money and their solicitor wrote back saying they have told her to continue with the case and have issued a county court claim.

    I suggested to her previously on the phone it was a waste of time and she had agreed.

    The biggest worry is debt collectors turning up at the inlaws but what can I do!

    Just thinking strategically the best way to stall this out.
     
    Posted: Jan 24, 2019 By: Goingunder Member since: Nov 7, 2018
    #24
  5. Blaby Loyal

    Blaby Loyal UKBF Ace Full Member

    1,016 193
    The only sure way to avoid bailiffs is to pay the creditor, failing which just hold fast and stick to your plan.
     
    Posted: Jan 24, 2019 By: Blaby Loyal Member since: Jun 12, 2018
    #25
  6. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    Thanks guys.

    One last question, I am moving within a few weeks and out of my in laws.

    What do I do, change address of company or what?

    I was thinking of using a virtual office in London.

    Realised yesterday confirmation statement not due til March! Doh!
     
    Posted: Jan 26, 2019 By: Goingunder Member since: Nov 7, 2018
    #26
  7. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    May 28th even!
     
    Posted: Jan 26, 2019 By: Goingunder Member since: Nov 7, 2018
    #27
  8. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    Hi quick question. Every debt collector chasing keeps advising that company is still active on HMRC website.

    I don't need to change that do I?

    Also have received a county court claim form. Should I just ignore it? No point filling it in is there?

    Thanks!

    Also one last question CH has said I need to file accounts within 14 days if I want to remain active. If I dont will they shut it down?
     
    Posted: Feb 14, 2019 By: Goingunder Member since: Nov 7, 2018
    #28
  9. Blaby Loyal

    Blaby Loyal UKBF Ace Full Member

    1,016 193
    If you have notified all of your creditors and the debt collectors then do nothing.

    I am not aware of an HMRC website that numpty debt collectors would have access to.

    Let Companies House follow their procedures.
     
    Posted: Feb 14, 2019 By: Blaby Loyal Member since: Jun 12, 2018
    #29
  10. Spongebob

    Spongebob UKBF Ace Free Member

    2,169 1,095
    End of the day there is nothing that debt collectors can actually do if there are no company assets for bailiffs to seize.

    Just brazen it out.

    Don’t submit anything more to Companies House and they will eventually dissolve the company.

    Resist the understandable urge to have to DO something. The best course of action is to do absolutely nothing.

    Always remember that while to you your predicament is of the utmost importance, to everyone else it is of little or no significance.
     
    Last edited: Feb 14, 2019
    Posted: Feb 14, 2019 By: Spongebob Member since: Dec 9, 2008
    #30
  11. Pendulum

    Pendulum UKBF Contributor Free Member

    40 3
    Have I understood correctly, that you were stupid enough to list your in-laws' home address in connection to the company? If so, then if you haven't already done this, you should warn your in-laws what might happen, and tell them not to open the door. It's all well and good some people telling you that if there are no company assets in the home the bailiffs can't do anything, but in practice those scum will not let that stop them. Haven't you seen the bailiff shows on TV in recent years?

    If given an open door they will force their way in and scare the funk out of your innocent, unconnected in-laws. They will try to bully them in to making a payment on behalf of the company, dressing it up as them helping you. If they don't manage to extort a cash, debit card or bank payment they will then 'take control' of anything of value which the occupants can't produce receipts for. Is it legal? Probably not, but that doesn't stop them doing it, and not just in real life but also on TV where it's plain to see.

    If you did put them at risk like that then you should be ashamed.

    Changing the address now would be too late; it's already known to the current debt collectors.
     
    Posted: Feb 14, 2019 By: Pendulum Member since: Mar 31, 2013
    #31
  12. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    My Mrs did it unfortunately as we had a few issues with post at prev address.

    I was not happy.

    Anyway I was thinking of register it in London at a virtual office then just giving them a copy of the change so they can hand it to any bailiffs.

    I work 5 mins away from theirs so can be home within 5 mins if they do come.
     
    Posted: Feb 14, 2019 By: Goingunder Member since: Nov 7, 2018
    #32
  13. Blaby Loyal

    Blaby Loyal UKBF Ace Full Member

    1,016 193
    If you are thinking of changing the registered office address, check with Companies House first to make sure it doesn't reset the clock as far as striking off is concerned.
     
    Posted: Feb 14, 2019 By: Blaby Loyal Member since: Jun 12, 2018
    #33
  14. Pendulum

    Pendulum UKBF Contributor Free Member

    40 3
    It might be too late to be worth you bothering to get a virtual address at this point. They already have the house address, and will definitely try it if they don't get a scent elsewhere.

    As somebody else pointed out, it might also interfere with the imminent dissolution of the company so not worth the risk. In your situation I wouldn't even do it if a friendly person on the line from CH promised it would do no harm.

    Out of curiosity, is the house listed as the registered office, a place of business, or both?

    In any event, I think your in-laws should put up a notice on the front door stating words to the effect: callers are formally warned that (company name) has no legitimate connection to this residential property and owns nothing located at the property. The address was used without the knowledge or consent of the owners. The owners have no connection to the company. Any callers for the company are not welcome, and their implied right of access is formally removed as of the completion of reading this notice, meaning that if they set foot on to the property (including all outside areas) they will be trespassing, and reported to the police as intruders with no lawful authority to be present.

    Start collating receipts for all valuable possessions that could conceivably be mistaken for company assets, including any vehicles not on finance, whether yours, the wife's, or theirs. Even if you all suffer the embarrassment of putting up the door notice to give some level of potentisl protection, which I bet you won't because it is so embarrassing to neighbours and other callers, they'll probably still manage to bully/trick their way in somehow as someone will let their guard down or get nervous. Ensure they are filmed at every stage, and ignore their lies if they say it isn't legal for you to record them - it is, anywhere at all in public or on your own property. Take duplicates/back ups of all receipts prior to their arrival, in case when you show them they don't give them back. Trust nothing they say, including the extent of their powers which some of the time they lie about or don't even fully understand themselves.

    Brief your in-laws about what might happen! Many people will say I'm over reacting, but these nasty things do happen sometimes, and if they aren't mentally prepared it will go badly if they do get a visit...
     
    Posted: Feb 14, 2019 By: Pendulum Member since: Mar 31, 2013
    #34
  15. Spongebob

    Spongebob UKBF Ace Free Member

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    This is s useful reminder that it always a good idea to use your accountant’s office or an accommodation address as your company’s registered office - from day one.
     
    Posted: Feb 15, 2019 By: Spongebob Member since: Dec 9, 2008
    #35
  16. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    2 CCJs against us now one from parts supplier and one from companies house for a fine.

    Still just ignore everything?

    Still worried about bailiffs.

    Also had a letter on 6th March stating we must file accounts in 14 days or strike off starts.
     
    Posted: Mar 15, 2019 By: Goingunder Member since: Nov 7, 2018
    #36
  17. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    It does say it will be in Gazette though!
     
    Posted: Mar 15, 2019 By: Goingunder Member since: Nov 7, 2018
    #37
  18. Goingunder

    Goingunder UKBF Newcomer Free Member

    26 1
    Also we havent been trading for 3 months now do I do anything there?

    Not sure whether to speak to companies house and ask whether a change of address is a good idea or it will mean we have been trading.

    I can register it at my empty workshop.
     
    Posted: Mar 15, 2019 By: Goingunder Member since: Nov 7, 2018
    #38
  19. Scalloway

    Scalloway UKBF Legend Free Member

    15,404 3,258
    Then Companies House are doing the job for you.
     
    Posted: Mar 15, 2019 By: Scalloway Member since: Jun 6, 2010
    #39
  20. Mr D

    Mr D UKBF Legend Free Member

    17,687 2,018
    Bailiffs can take what business assets?
    'The business has ceased trading and has no assets' is often what is quoted as to say to them.
     
    Posted: Mar 15, 2019 By: Mr D Member since: Feb 12, 2017
    #40