Tiger LAW Ltd (10618637): administration
- Status
- Administration ended
- Administration began
- 2024-12-23
- Administrators
- Sean Bucknall, Marc Norman
- Administrators' firm
- Quantuma
- Incorporated
- 2017-02-14
- Location
- Brighton
- Industry
- 69102 Solicitors
Why it went into administration
- COVID-19
- HMRC / tax arrears
From the administrators' statement
3.1 The director advised that the cause of the Company becoming insolvent was as a result of the following factors:-
3.2 An error by an external accountant at the beginning of Covid-19 resulted in the Company incurring an unplanned VAT liability. This, coupled with expansion and a payroll that did not pay for itself over time due to poor recruitment, then led to the Company taking on short term loans.
3.3. The Company had further issues with an internal office and accounts manager who failed to pay PAYE for the best part of a year and an external accountant who failed to report VAT penalties over a period of four years (the firm successfully appealed a VAT penalty but failed on most). During this period, the director took a loan from Accredo (General Asset Management) Ltd with a view to settling the short-term loans and trade creditors, but the original offer was reduced and therefore the exercise was less beneficial than anticipated. This loan is secured on the director’s home, and it is personally guaranteed.
Administrators' statement of proposals (2025-01-29) · Companies House register