In a recent development, the Rugby League side, York Knights, has been served with a winding up petition by HMRC, but the club insists it’s “business as usual.”
HMRC’s Unpaid Corp Tax Winding-up Petition
Club chairman Clint Goodchild sheds light on the situation, asserting that the HMRC action is linked to a Corporation Tax charge dating back to the tenure preceding his leadership.
The HMRC tax charge in question amounts to just £2,109.95, with an additional interest charge of £294.66. Goodchild has expressed the need for more detailed information regarding these charges. The tax charge’s origin dates back to November 30, 2018, well before Clint Goodchild assumed ownership of the club in January 2022.
Seeking Winding-up Petition Adjournment
York Knights have proactively sought further information from HMRC and are currently awaiting a response. Despite the relatively small sum involved, Goodchild emphasises the importance of receiving answers and clarity before proceeding with payment.
Until satisfactory explanations are provided and the taxation charge is deemed justified, Clint Goodchild is resolute in his decision to withhold payment. He stands his ground, awaiting resolution.
Responding to A HMRC Winding-up Petition
York Knights’ response to the HMRC winding up petition demonstrates the importance of getting an adjournment. It is not easy to obtain an adjournment for a HMRC winding-up Petition but our experienced HMRC winding-up petition solicitors and barristers know how to do this.
After the issuance and service of a Winding Up Petition to a Company, there is a very tight timeframe for taking action and resolving the debt (assuming it’s not being contested). At this point, the creditor who initiated the petition should have already completed all pre-action winding up procedures and is primarily focused on quickly recovering their owed funds. Some companies may require additional time to make payments to creditors, such as HM Revenue & Customs (HMRC), and may seek a temporary suspension of the winding up petition process to secure the necessary funds for settling the debt or addressing any legitimate disputes.
Can I Petition to Wind Up a Debtor Company?
Yes, you can petition to wind up a company that owes you money. Typically, creditors engage solicitors to initiate this process when debts exceed £750 or to prevent the company’s financial situation from worsening. However, there are other costs involved in bringing a winding up action against debtor company.
Here’s how it works:
- Filing a Petition: Creditors file a petition in court to request a winding-up order against the debtor company.
- Director’s Response: Directors should respond promptly when they receive a winding-up petition. Failing to do so can lead to loss of control and potential personal liability for the debts.
- Court Hearing: The court schedules a hearing to consider the petition. If the debtor company doesn’t respond or defend itself, the court may issue a winding-up order.
Initiating winding-up proceedings is a crucial step for creditors looking to recover debts and protect their interests. Understanding the process and its implications is essential for all parties involved.
Specialist Legal Advice on Winding-up Petitions
We specialise in winding-up petitions and can help you navigate the complexities of such legal proceedings, especially where there is a HMRC Tax Dispute (an area we also specialise in). Don’t hesitate to reach out to us for professional advice and support. Remember, timely legal intervention can make all the difference in safeguarding your interests and ensuring a favourable resolution. Contact us today to schedule a consultation and protect your business from the consequences of winding-up petitions issued by HMRC.
Why Choose Our Firm for Winding-Up Petitions
- Tailored Approach: We understand that each client’s situation is unique. We provide personalised guidance and strategies tailored to your specific circumstances.
- Proactive Defence: We take a proactive approach to defending against winding-up petitions, ensuring that all legal avenues are explored and leveraged in your favor.
- Results-Oriented: Our ultimate goal is to achieve the best possible outcome for our clients, whether it involves successfully issuing a petition or effectively opposing one.
Experts in HMRC Winding-up Petition Defence
HMRC is the largest issuer of winding up petitions, and the resultant legal and financial difficulties can be overwhelming for businesses. However, our firm has a dedicated tax disputes team that specialises in addressing HMRC-related claims and navigating Time To Pay Arrangements, providing effective support to companies during difficult times.
We firmly believe that a combined approach is key to saving struggling businesses, and our tax dispute team is renowned throughout the country for their exceptional track record in this area. Led by a former HMRC Tax Barrister who also headed the National Tax teams of two of the ‘Big 4’ accountants, our team possesses the expertise and insight required to achieve optimal HMRC tax dispute outcomes for our clients.
If your business is facing HMRC-related challenges or threats of winding up orders, our HMRC Winding-up Petition Defence team is here to help. Contact us today to learn more about our tailored legal solutions and how we can assist in safeguarding your and your company’s interests.
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WARNING – OBTAIN SPECIFIC GUIDANCE & ADVICE
The information on this website is not legal advice; you should always obtain specific advice on the circumstances of your case. Our Winding-up Petition Solicitors & Barristers provide specialist legal advice based on decades of expertise. Click here or call +442071830529 to get in touch. For regulatory reasons we do not take on low value cases nor provide free legal advice, information or guidance and our team cannot answer questions from non-clients.