MAX Your PAY Ltd (12522435): administration
- Status
- In administration
- Administration began
- 2024-12-03
- Administrators
- Jamie Taylor, Wayne Macpherson
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2020-03-18
- Location
- Leigh-on-Sea
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 18 March 2020 by the former directors and shareholders and commenced trading to provide employment support services with the main activity being processing payroll for temporary staff working most in the public sector.
On 31 May 2024, the entire share capital was acquired by Automated HR Services Ltd, a company wholly owned by Mr Rajeev Mal, current director of the Company. The purchase price was £331,000 and the sales consideration was structured as an initial payment of £10,000 followed by two payments, the first being £160,000 due six months after the completion date and a second payment of £161,000 due twelve months after completion.
Upon acquisition, the Company had one client, Instol Recruitment Limited who had direct contacts with the employers. The Company would process weekly payslips for approximately 1,500 temporary staff, pay wages and pay the tax due directly to HM Revenue & Customs (“HMRC”).
Administrators' statement of proposals (2025-01-28) · Companies House register