D&E Office Solutions Limited (01353729): administration
- Status
- Administration ended
- Administration began
- 2017-06-22
- Formerly
- D. & E. Business Machines Limited
- Incorporated
- 1978-02-20
- Location
- Southampton
- Industry
- 77330 Renting and leasing of office machinery and equipment (including computers)
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company commenced trading in 1978 and grew to be one of the south coast's largest office solution providers, with four divisions covering office stationery, bespoke office design, environmentally friendly office products and managed print solutions.
The Company traded successfully for many years however, recently the main operations director and driving force behind the Company, has had to deal with two significant protracted issues in both his personai and professional life which distracted him from the business. This resulted in a significant negative impact on the turnover and profitability of the business.
Some time ago the Company entered into an Employer-Financed Retirement Benefit Scheme (EFRBs). HM Revenue and Customs (HMRC) have challenged such schemes being of the view that they do not involve the provision of a ‘qualifying benefit’ and as such have issued an Accelerated Payment Notice (APNs) against the Company for c£1 million.
Administrators' statement of proposals (2017-08-08) · Companies House register