WMN-E01-S3 WESTERN MORNING NEWS THURSDAY SEPTEMBER 26 2013 BUSINESS 5 Don’t bury your head in Legal 500 the sand over tax debts

BUSINESS MATTERS South West legal expertise Lisa Thomas, insolvency practitioner at Plymouth-based Neville & Co explains the role that HM Revenue and Customs can play in insolvencies and advises businesses how to manage their remains ahead of the pack relationship with the taxman

I am often asked what usually ing and transfer your file to tips a business over the edge. the specialist section in Wor- The aftermath of the Legal Services Act is If I asked you to guess the thing. Once they get to this answer you might say it is the stage it is pretty serious and still being felt but Westcountry law firms banks –a lot of business they are trying to put you out people think that. However of business to stop the debt continue to perform well in the latest Legal that is just not the case. It is you owe them from increas- very rare that the bank loses ing. It is the ultimate control 500, reports business editor Liz Parks patience and is the one to call they have on stopping you in in the administrators. your tracks. Any creditor The usual creditor that owed over £750 can do this but Regional heavyweights exerts enough pressure that it is only usually HM Revenue something has to happen is and Customs that are willing Burges Salmon LLP Bristol HM Revenue and Customs. to spend the money. Osborne Clarke Bristol From their point of view they The best thing you can do in TLT LLP Bristol are not like a bank or trade the circumstances (assuming Ashfords LLP Bristol, Exeter, Plymouth, supplier that can set a credit you cannot pay in full) is to Taunton, Tiverton limit. If a business avoids its talk to them. They are not as Bevan Brittan LLP Bristol VAT or PAYE it can run up a hostile or as intimidating as Bond Dickinson LLP Bristol, Plymouth DAC Beachcroft LLP Bristol large debt very quickly. At you might think and, on the Foot Anstey Bristol, Exeter, Plymouth, least a bank has the protection whole, just want to get their Taunton, Truro of setting an overdraft limit money back. As long as the Michelmores LLP Bristol, Exeter and refusing to allow cheques offer to them is sensible then Charles Russell LLP Cheltenham to be cleared above that limit they will do a deal to take Clarke Willmott LLP Bristol, Taunton and a supplier can refuse to payment by instalments as Lester Aldridge LLP Bournemouth Thrings LLP Bath, Bristol, Swindon supply goods unless paid. long as you keep up to date on Veale Wasbrough Vizards Bristol Once HM Revenue and Cus- the rest of your VAT or taxes. toms start a recovery process Until recently the longest deal Stephens Scown LLP Exeter, St Austell, Truro they might do one of two I have seen them agree was Withy King LLP Bath, Swindon things. They can send in a over 12 months but recently I bailiff and distrain on assets – have seen deals for repayment Leading individuals the equivalent of taking a over a longer period. Joseph Acton Trowers & Hamlins LLP legal charge. Once they have If you have no hope of reach- Social housing Omar Al-Nuaimi Osborne Clarke done that there is not a lot you ing a sensible agreement with Banking and finance can do to release it apart from them then I would suggest you Liz Allen Stephens Scown LLP Family pay off all the debt owed. They look at a more formal insolv- David Ashplant Lester Aldridge LLP Corporate and commercial d o n’t just let you pay off what ency answer to deal with the Neil Baker Clarke Willmott LLP Planning the equipment is worth –they arrears. HM Revenue and Cus- Richard Barcan Barcan Woodward will want all arrears cleared. toms cannot legally write off Solicitors Clinical negligence Usually a few days after taking debt unless you enter into Alan Barr Burges Salmon LLP Corporate and commercial that distraint if the debt has Company or Individual Vol- Michael Bothamley DAC Beachcroft LLP not been paid they come and untary Arrangement or you Commercial property remove the goods to be sold at enter liquidation, bankruptcy Andrew Braithwaite Thrings LLP Intellectual property auction. Sometimes you will or administration. In all of Paul Browne Burges Salmon LLP see cars advertised in an auc- these cases you will need the Commercial property tion stating it will be sold services of a licensed insolv- Roger Bull Burges Salmon LLP unless the debt is cleared. ency prac- Employment Sasha Butterworth TLT LLP Pensions Leading Westcountry individuals include: top L-R Simon Rous, David Turner. Middle L-R Carol McCormack, Tim The second action they can titioner Peter Carney TLT LLP Insolvency and take is to start bankruptcy (on like me to corporate recovery Richards, Edmund Probert. Bottom L-R Liz Allen, Luke Gabb, Tony Jaffa sole traders) or a winding up do one of Jonathan Cheal Dyne Drewett Solicitors process (on limited companies these pro- Limited Agriculture and estates John Clarke Stone King LLP Education Commercial property Bethan Evans Bevan Brittan LLP Local Commercial property or partnerships). Usually you c e d u re s. Laura Claydon Burges Salmon LLP EU Jeremy Dickerson Burges Salmon LLP government Mark Gay Burges Salmon LLP Sport can tell if HM Revenue and and competition Media and entertainment Ross Fairley Burges Salmon LLP David Gidney Burges Salmon LLP Customs are going to do that Contact Lisa on Peter Clough Osborne Clarke Andrew Dunlop Burges Salmon LLP IT Environment Commercial property because they give you warn- 01752 786800 Commercial litigation and telecoms Sandra Forbes Burges Salmon LLP Chris Godfrey Burges Salmon LLP Peter Cusick Thrings LLP Agriculture and Simon Elliman Withy King LLP Clinical Banking and finance Corporate and commercial estates negligence Lionel Fynn Horsey Lightly Fynn Licensing Patrick Graves Osborne Clarke Madeleine Davitt Davitt Jones Bould Nick Engert Clarke Willmott LLP Planning Luke Gabb Bond Dickinson LLP Corporate and commercial Endsleigh’s parent company is Corporate and commercial: borrowers on the first-ever publicly listed Murrell Associates handles regional matters, and in 2012 alone assisted in The West Country solar finance bond. Stephen Morse and corporate deals, and is particularly strong in relation to UK, Dutch, French, German, sold in multi-million pound deal Richard Cobb are recommended, and Karl the renewable energy sector. Hugh Murrell Turkish, Australian and US tax issues. Ashfords LLP Exeter, Plymouth, Taunton Taylor joined from Over Taylor Biggs in delivers a ‘superb’service, and clients trust Foot Anstey is praised as providing Ivybridg e’s Endsleigh Garden Terra Firma –one of Europe’s Foot Anstey Plymouth, Exeter, Taunton 2012. Other clients also include the Met him ‘wholeheartedly’with major business ‘easy-to-understand advice’and value for Michelmores LLP Exeter Office and Santander. decisions. money. The ‘excellent’team recently and Leisure centre’s parent leading private equity firms – Bond Dickinson LLP acts for clients such as assisted new client 90 North Real Estate firm has been bought by a for £276 million, and follows Bond Dickinson LLP Plymouth the Eden Project and Royal Mail. The Corporate tax Partners in relation to the tax structuring of huge player in the sector in the recent announcement of OTB Eveling Exeter primary contact is Dean Drew, who led the UK property investments. John Pindard is Stephens Scown LLP Exeter, Truro, St advice to Superior Group on its sale of Fine Burges Salmon LLP Bristol the key contact. what is understood to be a the acquisition of Cheddar Austell Tubes (a leading European manufacturer of Osborne Clarke Bristol Michelmores LLP recently advised Exeter multi-million pound deal. and Lechlade garden centres. small-diameter tubing) to US private Rugby Group on the tax aspects of a share Kitsons LLP ExeterFollett Stock Exeter, Truro investment firm The Watermill Group. Ashfords LLP Exeter offer to individuals. Practice head Brian The garden centre, on the Guy Hands, chairman and Foot Anstey Plymouth A38 just outside Plymouth, is chief investment officer of Murrell Associates Truro OTB Eveling recently acted for the Garner has more than 30 years of tax shareholders on the sale of The Hotelier Michelmores LLP Exeter experience, with a background including 20 one of seven similar busi- Terra Firma, said: “Ter ra Ashfords LLP’s sizeable team has ‘good Group to Dominvs Investments. James TLT LLP Bristol years at Ernst & Young. nesses, snapped up by The Firma is committed to sup- breadth and depth of service’, with notable Eveling and David Gebbie are TLT LLP’s clients include EDF Energy and practitioners including practice head Simon Bond Dickinson LLP Bristol Garden Centre Group porting the execution of recommended. Veale Wasbrough Vizards Bristol Sword Group SE. Ben Watson is an Rous, who is ‘one of the top corporate Stephens Scown LLP advises local SMEs as employee incentives specialist, but the (TGCG). TGCG’s strategy, one of the lawyers in the region’, and ‘rising star’ well as a number of international clients, corporate tax team also advises on VAT Rebecca Dury. Age Concern, Lloyds Banking Burges Salmon LLP ‘always co-ordinates Endsleigh’s parent firm, key pillars of which is increas- notably US racing car parts manufacturer complex instructions well’, and its level of issues, stamp taxes and green taxes. Garden & Leisure Group, was ing the size of the group. Group, and Viridor Waste Management are Goodridge USA and Australian mining The ‘extremely responsive’team at Bond clients. expertise is ‘second to none’. Most of the sold by its owner Louis Del- “We have been actively seek- company Wolf Minerals. James Keliher team are qualified chartered tax advisers, Dickinson LLP provides ‘a very high level of Foot Anstey wins plaudits for its ‘good heads up the department, and Christian service’, and recently advised Royal Mail on haize, which also owns ing high-quality acquisition internal communication system that directs with Nigel Popplewell and John Barnett in Wilson joined from Coodes in 2012. particular reaping praise for their ‘strong the tax aspects of the construction of a new Truffaut, a leading French opportunities and today’s work to the most appropriate partner or Kitsons LLP provides an ‘exemplary’service; delivery office. Senior associate Ronan junior’. The firm enjoyed a flurry of new technical understanding’. garden centre group. Garden & Leisure Group deal clients have ‘no hesitation’in Osborne Clarke’s team is led by Michael Lowney is recommended. client gains in 2012, and acts for an recommending the firm. Practice head Senior associate Emma Bradley is the key The purchase will add seven is a very good fit both with the increasing number of national and Bell, and is ‘one of the best in the business’. Dominic Hollingsworth has ‘excellent It provided tax structuring advice to Growth tax contact at Veale Wasbrough Vizards. large garden centres in “prime existing TGCG estate, and our international companies. Chris Worrell, commercial acumen’, and is ‘able to deal Solicitor and chartered tax adviser Lisa Duncan Sykes and Matthew Stoate are Capital Partners on three acquisitions over l o c at i o n s ”to TGCG’s portfolio strategic vision for growing with any issue thrown at him’. the course of 2012, and also acts for Marie-Smith joined from Gregg Latchams recommended, and the ‘very astute’ Penny Paddle leads the corporate and LLP. of 132 centres. the leisure side of the busi- Marlene Howels ‘quickly understands her Carphone Warehouse Group and Barratt commercial team at Follett Stock, with over Developments. It represents the first ac- n e s s. ” clients’requirements’. 15 years’experience in the field. Lucy EU and competition The level of service is ‘excellent’at Ashfords LLP’s clients include Viridor Waste quisition of a major chain of The Garden & Leisure Morgan is recommended for matters Management and the South West Regional Michelmores LLP. The team recently advised involving aspects of IP, media or Burges Salmon LLP Bristol garden centres since TGCG Group was formed in 1997 by British Solar Renewables and the original Development Agency. Led by Angus Bauer, was itself bought last year by Truf faut. entertainment. the team is recommended for cross-border Turn to PAGE 6