VEG Realisations Limited (04388338): administration
- Status
- Administration ended
- Administration began
- 2016-07-29
- Administrators' firm
- Mazars
- Formerly
- V. Evans Group Limited; Fleetwith Limited
- Incorporated
- 2002-03-06
- Location
- Manchester
- Industry
- 16290 Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company manufactured wooden pallets for use by 1ts customers It has historically had consistent trading, with profits generated each year However, as a result of histone tax planning, HM Revenue & Customs (“HMRC”) contacted the Company in March 2016 to advise that a substantial liability would be due, via an Advanced Payment Notice (“APN”), in the amount of £496,000
The Company’s accountants, Guy Walmsley & Co, contacted Mazars LLP and Patnck Lannagan and Conrad Pearson met with the accountants and the Company director, Mr Evans, on 30 March 2016 to discuss the position Following this conversation, the director was introduced to Dave Jennings, a member of the Mazars LLP Tax Investigations team, to assist the director with preparing proposals to repay the liability owed under the APN
Around the same time, one of the Company’s mayor customers advised the director that the number of orders would start to reduce in the near future, due to changes with how the customer made deliveries, which would impact on the number of wooden pallets required by them
Administrators' statement of proposals (2016-08-31) · Companies House register