Case Study - IT Contractor in receipt of an Accelerated Payment Notice

An IT contractor in receipt of an Accelerated Payment Notice (APN) from HMRC and the subsequent liquidation of the business.

Background:

  • Company received £150k Accelerated Payment Notice (“APN”) from HMRC

Outcomes:

  • Quantuma reviewed all options available to the business and assessed current position
  • Company insolvent on a growing concern basis
  • Company in no position to pay the APN from HMRC and all other options closed
  • Company placed into liquidation in order to properly deal with its affairs

 

For more information on Liquidation, please click here