A UK-based financial planning firm has appointed MHA Larking Gowen as its administrators after it was forced to enter liquidation.
Signpost Financial Planning, based in Attleborough in Norfolk, called in the accountancy firm on 16 September 2020 to seek professional advice on the future of the company.
International Adviser spoke with Andrew Kelsall, one of the joint administrators together with Lee Green, who said that Signpost’s liabilities to unsecured creditors total around £306,000 ($393,632, €333,620).
Of the total sum, £82,000 is owed to HM Revenue and Customs (HMRC), £42,000 in pay-as-you-earn (PAYE) and other tax and £40,000 in corporation tax.
Besides HMRC, other people who are owed money are connected creditors, employees and other financial services firms, such as intermediaries that worked with Signpost.
When asked about why the company entered liquidation, Kelsall suggested the firm had been struggling for quite a while and that the cause may not be entirely dependent on the coronavirus pandemic.
