If an HMRC winding up order is made, then the company is placed into formal insolvency.
The HMRC make many winding up orders every year and following those winding up orders, it is common that a liquidator will be appointed over the company. This can either be the government appointed liquidator (the Official Receiver) or an independent liquidator who is normally associated with a firm of insolvency practitioners.
The liquidator will
- take over the conduct and running of the company even though it is an informal insolvency;
- their main job is to try and make some realisations / sales and get money in for the creditors of the company;
- they will also investigate the affairs of the company as well. That can involve continued involvement by the former directors and may even result in personal claims against them including director disqualification claims for money if for example there has been wrongful trading, misfeasance, trading whilst insolvent or even fraudulent trading.
Therefore, when faced with an HMRC winding up petition, it is important to take action to try and avoid the worst effects of an HMRC winding up order.
At Francis Wilks & Jones we have the HMRC winding up order experts available to help you either try and avoid a winding up order being made in the first place or to help prepare you for what happens after an HMRC winding up order goes through.
Please contact one of our friendly expert winding up petition and company rescue solicitors now for your friendly consultation. At Francis Wilks & Jones, we have a team of dedicated winding up petition experts ready to take your call and help you out with the HMRC. Whatever your question, we can help you. Don’t delay – contact one of our experts now.
Over the ten years we have worked together, FWJ continue to achieve exceptional results year on year. Andy Wilks and the team have been a pleasure to work with and have always provided pragmatic, commercial and accurate advice on a wide range of matters. FWJ have become an integral part of our business and we cannot recommend them highly enough.A longstanding client whom we have advised on various matters