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This Week’s Jog Through The Blogs

This jog through the blogs gets out of the starting blocks at the little insight into How To Avoid Furlough Penalties arising from the risk of Furlough claims being investigated. How might you deal with matters if you are singled out by one of the 1,000 plus HMRC investigators that might be available to trawl with alacrity through your payroll records?

Then we shifted into some more HMRC related matters but this time the focus was on business expenditure which was Wholly And Exclusively For The Trade. This post looked at a remuneration scheme that was not considered to be effective for the purposes of being tax deductible. This resulted in HMRC discovery assessments, Regulation 80 Determinations and Section 8 Decision Notices.

As the week progressed we got stuck into a messy matter, involving the case of the Disqualified Meat Wholesaler Sentenced. The Director failed to deliver up the book debt ledger to enable the Liquidator to recover sums seemingly into £120,000 that sprouted on the Statement of Affairs as an asset of the company that had gone into Creditors Voluntary Liquidation causing the Director to receive a suspended prison sentence.

Finally, we dived into the case of the villa in Spain that led to a Bankrupt Sentenced After Concealing Property. The Bankrupt received a 16-month sentence, suspended for 12 months, having been charged with 3 counts against the Insolvency Act 1986.

Sprinting Through The Socials

Sprouting on the socials was a reference to the Court Of Appeal’s decision after a renewed challenge to a Liquidator’s assignment of a claim that caused consideration of When Will The Court Control A Liquidator?. It highlighted the perversity test, sparking the observation:

Whilst the Liquidator is there to act instead of the Directors; the Court is not there to act instead of the Liquidator.

Until the next jog through the blogs…

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Elliot Green

Licensed Insolvency Practitioner & Chartered Accountant. We Know Insolvency Inside Out.