If your limited company owes PAYE payments to HMRC some Directors assume that if they close the company the debt “dies”. HMRC are starting to lose patience with some directors who have a series of failed businesses. Take Michael Eames who was sole director / shareholder of A1 Recovery Portsmouth Limited (A1RP). The company went it to liquidation in July 2017 owing HMRC in excess of £100k (plus interest) in unpaid PAYE. Under section 121C HMRC exercised their right to convert the corporate liability to a personal one. Whilst HMRC made no allegations of fraud they determined that Mr Eames
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