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Going Under ?


hippo

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A google search told me this..

"Once the Court has issued a winding up order there is nothing that can be done to stop the company from being completely liquidated. However, there is a short period of time during which you can take action to prevent the order from being issued."

Seems a bit extreme for missing what sounds like one tax payment, but maybe we've just not been paying our taxes for a while.. 

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1 minute ago, Pimlico_Villa said:

If we are loss making, what are we expected to be taxed on? 

Not all taxes rely on profit being made. VAT, national insurance? 

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I don't know UK tax law, but normally countries are quite strict with their laws on taxes, ie if you miss a payment there are severe measures that can be taken, but also if you pay up within a short period of time those measures wont be taken. Hopefully it's just that we by negligence missed a payment and nothing more than that.

If it on the other hand is so that we don't have enough cash to pay up, it could be very very bad. We'd need to take emergency loans or urgently sell assets...

Edited by Keener window-cleaner
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