A recent director disqualification case brought by the Department of Business, Innovation and Skills (BIS) shows how BIS can work with other agencies when investigating the affairs of failed companies.
A company providing a service analysing the composition of waste for local authorities across the UK, and the government’s waste and recycling agency, has ceased trading and gone into liquidation. Paul Harding and Graham Down, of tri group, have been appointed as Joint Liquidators.
Many of us remember the revulsion that we felt in 2011 when watching the BBC’s Panorama undercover investigation into the private hospital in South Gloucestershire known as Winterbourne View.
Times have been pretty tough for most businesses over the last few years, and many have gone to the wall. Seeing lots of empty shops as you walk down the local High Street, or boarded-up factories on the industrial estate is a sad sight, each telling a story of a business that’s failed. What’s even sadder, is that many business insolvencies might have been prevented.
George Osborne’s Summer Budget was not great news for businesses. Certainly there was some good news – reduced corporation tax, increased income tax allowances, raising the higher rate of income tax threshold and the increase in the national insurance employment allowance are all to be welcomed.
Natural Paint Limited, a manufacturer of eco-friendly paint, has been placed into liquidation by its shareholders. Graham Down, of tri group, has been appointed as Liquidator to handle the winding-up.
No man in this country is under the smallest obligation, moral or other, so as to arrange his legal relations to his business or to his property as to enable the Inland Revenue to put the largest possible shovel into his stores. The Inland Revenue is not slow – and quite rightly – to take every advantage that is open to it under the taxing statutes for the purpose of depleting the taxpayer’s pocket.
Figures recently published by the Government’s Insolvency Service show a growing number of company directors being disqualified for misconduct in running their companies.