Compliance Check question

Discussion in 'Insolvency' started by Toontoon, Jan 4, 2020.

  1. Toontoon

    Toontoon UKBF Newcomer Free Member

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    Hi

    Sorry I was looking to get some advice regarding a compliance check from HM revenue. I was recently sent 2 letters from them to perform these compliance checks on 2 previous businesses I was director of - 1 has ceased trading in 2017 and officially dissolved in 2018 on CH. The 2nd company started trading March 2018 (from a different location) and lasted about 10 months. I applied 5 months ago to get the 2nd company dissolved but has been rejected on CH at present.

    HM revenue are asking for various details bank statements, sales record etc for both LTD company's however I dont have these as 1st LTD was dissolved and destroyed as accountants were already sent.

    Can HM do a compliance check on a dissolved company? Also what if I dont have the information they require anymore? Iam I personally liable for any debt ? Both businesses were not VAT registered as below threshold.

    Many thanks for any advice
     
    Posted: Jan 4, 2020 By: Toontoon Member since: Jan 4, 2020
    #1
  2. Mr D

    Mr D UKBF Legend Free Member

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    You are required to keep records. Some for 7 years, some longer.
     
    Posted: Jan 4, 2020 By: Mr D Member since: Feb 12, 2017
    #2
  3. Toontoon

    Toontoon UKBF Newcomer Free Member

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    What if these are not available anymore
     
    Posted: Jan 5, 2020 By: Toontoon Member since: Jan 4, 2020
    #3
  4. Mr D

    Mr D UKBF Legend Free Member

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    Posted: Jan 5, 2020 By: Mr D Member since: Feb 12, 2017
    #4
  5. Adam93

    Adam93 UKBF Regular Free Member

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    You should be able to get hold of bank statements from the bank/building society for a closed account if you ask, the bank statements is a good place to start. HMRC will want to see the back up of the numbers in the accounts you submitted.
     
    Posted: Jan 5, 2020 By: Adam93 Member since: Jan 18, 2018
    #5
  6. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

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    Posted: Jan 6, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #6
  7. Toontoon

    Toontoon UKBF Newcomer Free Member

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    Hi Lisa

    Accounts were filed for the 1st LTD company. That ceased trading in 2017 . Can HM do a compliance check on a dissolved company? Also will I be liable to any debt for it ?
     
    Posted: Jan 6, 2020 By: Toontoon Member since: Jan 4, 2020
    #7
  8. Toontoon

    Toontoon UKBF Newcomer Free Member

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    Posted: Jan 6, 2020 By: Toontoon Member since: Jan 4, 2020
    #8
  9. UK Contractor Accountant

    UK Contractor Accountant UKBF Big Shot Full Member - Verified Business

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    yes, but usually they get the company reinstated and then carry out compliance/investigation. Only usually do this in cases where fraud is suspected.
     
    Posted: Jan 6, 2020 By: UK Contractor Accountant Member since: Sep 18, 2013
    #9
  10. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

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    Posted: Jan 6, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #10
  11. Toontoon

    Toontoon UKBF Newcomer Free Member

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    Hi lisa

    Not as of yet . Thanks
     
    Posted: Jan 6, 2020 By: Toontoon Member since: Jan 4, 2020
    #11