CMC unable to pay back PAYE arrears
Claims management firm Resources in Insurance Group (RiIG) is to appoint administrators after admitting it cannot afford its tax arrears.
RiiG had agreed a payment plan with HMRC to clear PAYE arrears by March 2015, but said in a statement this morning: “In light of further advice and having engaged in further discussions with HMRC, the directors have formed the view that the group is no longer able to meet this commitment.
“To protect the group’s position, and specifically to enable it to explore opportunities to protect value in the trading business, the directors have filed a notice of intention to appoint an administrator to the company with the High Court of Justice on 9 December 2013.”
RiiG reported turnover of £1.7m in the six months to 30 September 2013, up from £813,224 the previous year. Losses fell from £566,744 to £252,944.