And the thing is these same sort of shenanigans have been operated for years. There are people who have willfully folded hundreds of companies, causing untold financial hardship to others, only then to have another business running within weeks. It's a disgrace.
Tell me about it, there are Phoenix companies everywhere. We had a company in the UK go bust owing us 40k. The owners started a new company with a slightly different name the next day, brought all the assets and we couldn’t touch them. The government takes the view that the new company will employ many if not all the old staff and will be paying tax immediately, so good news as far as they are concerned. As for the creditors like us? The wankers in Westminster couldnt give a fck. As long as we are paying over 70% tax (50% personal + 21% corporation) they don’t give 2 sh1ts. Welcome to the realities of running a business in the UK, it has fck all to do with morality, just in case you didn’t know? I am afraid the distribution of wealth is rarely based on merit.