Taxi Driver Online

A Dundee taxi firm is continuing to operate despite its trading company going into liquidation.

The Dundee 203020 fleet was launched with much fanfare in 2001.

A meeting of the creditors of Douglas Street Transport Limited — formerly known as Dundee Private Hire — is to be held on October 26 at the Edinburgh offices of interim liquidator Begbies Traynor.

The firm was formally liquidated on August 5 but interim liquidator David Menzies admitted he had yet to interview any of the directors of Douglas Street Transport Ltd in connection with the situation.

Despite the collapse, the distinctive silver cabs — which first took to the road in 2001 with a fleet of Mercedes — have continued to be available to taxi passengers in Dundee.

Chief executive David Young said he was aware of the official liquidation notice but said it did not affect ongoing operations.

He said a new investor had come into the business and the taxis were now operating under the name Dundee Private Hire 203020 Ltd.

Far from closing down, Mr Young said the business was actually investing and renewing its fleet of private cabs.

He said: ''We are in the process of buying new vehicles and the first five will be coming in the next 10 days. We have ordered 50 brand new vehicles and we are replacing some of the old Skodas.

''What has happened is that we have a new investor and this is the way they wanted to go forward with a brand new company."

http://www.thecourier.co.uk/News/Dundee ... dings.html

I suppose if the taxi trade in Dundee won't invest in nice new shiny cars then private hire will have to do it

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

Didn't this company go bust already?

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http://wingsoverscotland.com/ http://www.newsnetscotland.com/

They did but opened up the next day with all the same staff and directors just changed the trading name slightly anything to get out of paying tax and VAT

so y doesnt the taX man no chase him whats the chances of him getting new cars em hows about no chance

They may avoid some bills but I doubt it'll be the VAT

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

Why do you say that?

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Grandad,

Cos they don't like not being paid

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

If a company has ceased trading and gone into liquidation, nobody gets paid.

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Grandad,

As I recall it HMRC are 'preferential creditors' when a company is wound up, thus it would get first call on any assets.

Then would be secured creditors, for example a loan with a mortgage.

Then the unsecured creditors, for example a bank overdraft and suppliers.

Of course, depending on the company's assets even HMRC might not get anything, but they would get it before the likes of the local garage who had done repairs for the company.

I'm not sure that you have the order correct. It used to be secured creditors first and there was no such thing as preferential creditors. The rest went into the hat together and usually got nothing. This included HMRC. One thing that I know has changed is that if an individual went bankrupt the rest of the income tax for that tax year was not collected by HMRC but it is now.
I know this from when I went bankrupt in the '90s when my ex wife left me with huge debts. All the income tax that I had paid that tax year upto the date of my bankruptcy was not paid to HMRC but was put in the pot to divi up with the rest of the creditors and for the rest of the tax year I was £60 per week better off.
I am not sure on the current rules but I think that the change is along the lines that any incometax that was due for the current tax year now all goes into the pot and is divi'ed up between the creditors.
Which means that HMRC are as near the bottom of the pile as you can get.

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Grandad,

I stand corrected Grandad.

When I studied this (back around 1990) as I recall it the golden rule was that the state and the liquidator's fees got first call on the assets on any winding up.

Clearly that has changed since, and I haven't kept up to speed on the issue.

Who'd have thunk that in modern times Parliament would legislate to push the state down the pecking order in this way?

http://www.contactlaw.co.uk/preferential-creditor.html

I always thought that if you wound up a company but then set up another company doing exactly the same thing with same directors that was a no no and surely the HMRC & VAT are not so daft as to see what this company has done

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Note to self: Just because it pops into my head does NOT mean it should come out of my mouth!!

There is nothing in law to stop it. People are only barred from being directors if they have been declared bankrupt. This sort of thing is happening all the time even with some very big companys.

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Grandad,

yes but its ok for the big guys, but jump all over the wee man

doesn't the education/indoctrination work well in this country