The official receiver as liquidator

distraught73

I’m after some help and guidance and more support.
i was the director of a convenience store which in the main made a living. Half way through its life I suffered an armed robbery at home. Suffice to say never caught and not insured so my net profit for year went in 30 seconds.along with paperwork keys etc etc. HMRC response : tough borrow it!!!
3 years later I suffer mental collapse relationship breakup. But left with business to run. I figured best thing to do get my accountant to do paperwork and put business on market. 4 years later finally sell. But accountant hasn’t been doing paperwork and left me with a load of vat to which he said he would sort and the amount due would be massively reduced and I would pay out of sale of proceeds. And I could  take out my directors loan. He didn’t do this so I put the business into voluntary liquidation. Liquidator told me all done nothing to worry about go and live your life.
1 year later HMRC reinstates business to wind-up oh yes liquidator hasn’t liquidated only dissolved via compulsory strike off. Rouge employee allegedly responsible!
so now I’m banned from being a director (voluntary undertaking) and now the official receiver has instructed solicitors for 132k  for HMRC (to put into context 132 would be more than the entire vat,paye corp tax for 10 years ) in my underplaying the OR confirmed no compensation order would be sought. BTW according to the OR when your DR writes in your notes can’t think straight concentrate etc and police called for reasons of personal safety that I’m compus mentus to be responsible for my business.

co director who was my partner resigned in 2014 but accountant didn’t tell companies house. Although the investigation is solely on me. Spoken to IP and they say the claim is joint and several even though no mention in pre-action Letter. I’m happy to go br I have nothing I’m on benefits for mental health but I want to ensure she isn’t touched. My partner wants to support me in an Iva. But IP says HMRC won’t accept surely its upto the official receiver as he’s supposed to be independent.
word of warning in this when the investigation officer smiles and says you’ve done nothing wrong - don’t trust him in fact don’t trust anyone!

missimaxo

I presume you have written your post to warn people but honestly it sounds like as a director of a limited company you have been very negligent in running the company and hence a disqualification sounds deserved.

I'm not saying this as a personal dig and there are some facts in your story that sound slightly incorrect. I'll start by saying that as a director you are governed by company law and lack of knowledge is not an excuse. 4 years missing Vat returns cannot be excused. Ultimately it is your responsibility and not your accountants. Yes you can delegate or pay someone but 4 years is a long time for the negligence. You must have known that vat returns were not being submitted and I presume not being paid either. That will be why you are disqualified as you have traded without paying your vat.
The official receiver will not be trying to recover the tax owed. If they are asking for a sum like that you must have an overdrawn directors loan account or have been paid dividends when the company cannot afford it. If the vat is owed by the company this remains a company debt unless you have personally guaranteed it, which is doubtful for VAT or you have been found guilty of fraudulent trading in which case you can be personally liable. The only other way you could be held personally liable would be if the vat number was held as a sole trader and not by by company. Obviously you are banned from acting as a director now but if you think of running a company in the future you should really understand your legal obligations.

If you want proper advice about bankruptcy/ iva you need to be clearer about what monies are being requested and by who (the OR does not directly chase for HMRC they chase company assets). Is the sum being asked a director loan. If its Hmrc demanding the money, on what basis are they holding you personally  liable for company debts.

Sounds like you could do with some professional advice from someone like stepchange if youre unsure.