Patisserie Valerie, having suspended its shares over a potential fraud, has also warned investors of an HMRC winding up petition it faces over £1.14m in unpaid tax.
HMRC said Patisserie Holding’s principal trading subsidiary, Stonebeach, owes it the money, and has set a hearing date of 31 October to seek a court order to liquidate the firm and its assets.
HMRC advertised the petition last Friday. However, rather oddly, Patisserie’s board said it has only "become aware” of it yesterday.
City AM quotes the stock market update:
“The company and its advisers are in communication with HMRC with the objective of addressing the petition.This does not bode well for Pat Val!
The company continues to engage with its professional advisers to understand better the financial position of the group and will make further announcements in due course.”
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"
Sounds like a bit of a mix-up, all the ingredients for yet another half-baked idea by hmrc.
ReplyDeleteNo crumbs of comfort for those affected though, as Homer would say
Dough!
TBF Patisserie Valerie's accountants were shafting the company, allegedly they thought they were £24m in the black, so some massive fraud going on here. So as loathed as i am to defend HMRC, and it sticks in my throat to say it, the tax bill is only part of the problem that could see the company fold.
ReplyDeleteMaybe the King Fat slob Jon Threepuds went down there and scoffed all their profits. Quite partial to a few cream cakes. Took a few of his top brass ExScum friends with him for a team building day. Mr Creasote and his wafer thin mint......
ReplyDeleteMuch as I dislike HMRC, Excom and the leaders, the vitriol aimed at the current head is astonishing.
ReplyDeleteI am aware that the MOD was not running too well and that this lot under his leadership are just as bad but death threats and derpraved namecalling, wow?
Not it is not....i would never wish death on anyone but he does deserve the vitriol as you call it thrown at him....he and his predecessors have run roughshod over his staff especially the lower grades...and now it is his turn....he is a school ground bully.
DeleteAsk yourself why this is happening....the feeling in the HMRC at the moment is at boiling point...people can take no more...I am not making this up....it is truly tortuous !!
At a meeting a few weeks ago, the senior HMRC staff who have been engaged in a FIVE YEAR negotiation with a major multinational were being beaten up by the CEO and CFO to explain why a deal everybody (foreign tax authoritues included) had been happy with 3 months ago was now a non runner.
DeleteAll they did was to mumble about "Governance Procedures" and look deeply miserable.
As far as we could make out, it had gone up the food chain and a summary been served cold to beings unfamiliar with the history and complexities.
And one or more of them had bellowed "I like it not!!!" because despite offering a large net cash gain for the UK Treasury over the coming years, a large current year offset and smaller repayment in respect of prior years would result.
So off to Litigation it is. HMRC will lose because their original stance was based on a near complete misunderstanding of the facts and a refusal to listen.
See you in four or five years.
HMRC...an embarrassment of a department.
DeleteHMRC are full of criminality and lawbreaking routinely covered up. Drain the swamp.
ReplyDeletePlease stop with the Trumpisms!!
DeleteA cess pit of toadies and sycophants, i've seen it first hand, dpn't believe the bullshit they rattle off week after week about how things are just tickety boo, Brexit is going to be the bemoth as HMRC i NOT prepared , despite all that is being said, an absolute clusterfuck is on the horizon. Watch the rats flee when t goes tits up.
ReplyDeleteSome already have...
Deletewww.consultancy.uk/news/19013/former-hmrc-executive-chair-joins-mckinsey-as-tax-strategy-advisor