Tony Costigan
Founding Director
Tony has extensive corporate experience, having acted as a Director in both insolvency and non-insolvency companies over a period of 20 years. His background in financial restructuring and also in both personal & corporate insolvencies means that he is ideally placed to be able to give accurate & sound advice, ensuring that the agreed solution is implemented both quickly & efficiently. He has links with a number of Insolvency Practitioners & is a District Councillor.
Our Services
Once you have had a free consultation with us & your requirements have been understood, if appropriate, we will assist you file for bankruptcy with a pre-qualifying interview.
Depending on each individual’s circumstances, it is probable that a Trustee in Bankruptcy would be appointed, particularly if there are properties involved. We will assist in the handling of the Trustee’s questions post-bankruptcy as an ongoing service. It is important to note that your matrimonial home is protected for up to 2 years and 3 months after your bankruptcy. During this time Cromwell Seymour will assist to negotiate a settlement with the Trustee so that the home reverts to your partner/wife.
It is common for the family to remain in the home provided that the ongoing mortgage or interest payments are paid to the Lender.
You would not be permitted to hold a Directorship, but it is possible for an undischarged bankrupt to hold the position of Company Secretary of a UK trading company. Thus, should you wish to provide you with the opportunity to continue trading using your entrepreneurial skills?
Meet The Team
Liz Coleman
Whilst I am a fully trained former Inspector of Taxes, the experience I can offer clients extends far beyond an in-depth knowledge of tax legislation and case law. In many cases the key to a successful resolution is more about knowing how to present facts and scenarios to HM Revenue & Customs in a form that will enable an acceptable settlement to be made, rather than complicated tax legislation.
Tax Investigations
H M Revenue & Customs now has very wide-ranging powers to investigate personal and business affairs at will. In some circumstances they are entitled to enter premises without notice to seek documents relevant to your tax affairs and they have draconian new penalty regimes established to maximise the amount of money that they can extract from clients if they decide that duties have been deliberately underpaid.
I have established a justifiable reputation for being a skillful, hard but fair negotiator with H M Revenue & Customs. I understand the concerns and needs of people who are subject to investigation and act swiftly to take away these worries immediately, especially in the more serious cases being undertaken by members of HMR&C’s Specialist Investigation offices.
I am able to negotiate cost-effective pragmatic settlements, whilst enabling clients to continue their business throughout the process of the inquiry.
Insolvency Proceedings
HM Revenue & Customs are increasingly supporting the appointment of insolvency practitioners to recover tax they believe to be unpaid by Companies and individuals.
These insolvency practitioners will seek to recover funds from former directors, shareholders and other individuals of influence in the company.
Furthermore, HMRC is now issuing personal liability notices which transfer the obligation for penalties and some duties from the Company to the director. Should you receive such a notice, it is imperative that you seek expert advice at an early date.
I have negotiated settlements of many such actions by the examination of the duties being pursued – often there are alternative ways of establishing the tax liability – and the considered presentation of proposals thus ensuring the clients’ assets are protected.
Litigation Support
For those unfortunate enough to have the experience of being involved in litigation and court proceedings I can provide support and specialised expertise both in case of preparation
and in the court hearing itself. I have extensive experience of cases of alleged fraud – particularly in defending clients against such claims by HM Revenue and Customs. As in other areas, there are often alternative ways of calculating tax liabilities that would prove beneficial to the client.
Finally, by way of example, I was approached for a second opinion when a client of a well-known and established firm of chartered accountants was advised to settle an
Investigation into his affairs by the HM Revenue and Customs with a payment of £500,000 – he had already paid £200,000.
I undertook a detailed review of all relevant material and concluded that there an alternative, legitimate way of calculating his tax.