An interesting article occurred over the weekend regarding a high profile charity, Kids Company.
Kids Company is actually the trading style of Keeping Kids Company Ltd. The so called head of this company is Ms Camila Batmanghelidjh, a high profile lady who clearly has done a lot of good work in helping young people.
Kids Company is actually the trading style of Keeping Kids Company Ltd. The so called head of this company is Ms Camila Batmanghelidjh, a high profile lady who clearly has done a lot of good work in helping young people.
I doubt HMRC will be so generous in the future
There are allegations alleging that HMRC waived £589,000 of a £700,000 debt in respect of PAYE liabilities. I wrote a recent article on the perils of not meeting HMRC liabilities and the possible impact against company directors who may have been negligent.
I work with many companies who have outstanding HMRC liabilities and arrange finance in order that they can pay their debts and continue to trade. I have found HMRC quite firm in their approach to recovering outstanding PAYE & VAT and I am therefore puzzled that this substantial debt has been allowed to be written off by HMRC.
An examination of the accounts of 2013 shows a net worth of £1.7m and net current assets of £500,000.
Interestingly I note that Ms Camila Batmanghelidjh resigned as a Director 2003, but she is seen as the head of the company. I suggest the other Directors ensure that all HMRC liabilities are met as I doubt HMRC will be so generous in the future.
I work with many companies who have outstanding HMRC liabilities and arrange finance in order that they can pay their debts and continue to trade. I have found HMRC quite firm in their approach to recovering outstanding PAYE & VAT and I am therefore puzzled that this substantial debt has been allowed to be written off by HMRC.
An examination of the accounts of 2013 shows a net worth of £1.7m and net current assets of £500,000.
Interestingly I note that Ms Camila Batmanghelidjh resigned as a Director 2003, but she is seen as the head of the company. I suggest the other Directors ensure that all HMRC liabilities are met as I doubt HMRC will be so generous in the future.
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