Purnells - Tim Martyn Building Supplies Limited

The client:

Purnells are experienced insolvency practitioners specialising in corporate insolvency advice and solutions. Purnells had been appointed as the liquidators for Tim Martyn Building Supplies Limited in early 2023.

What we did:

Our analysis of data provided by Cornwall Council identified that prior to entering liquidation, Tim Martyn Building Supplies Limited had been overpaying on their business rates. Further, there remained an outstanding charge against Tim Martyn Building Supplies since entering liquidation.

Entering insolvency proceedings is not a barrier for applications to reduce the historic business rates liability. In fact, its always worth exploring potential refunds for companies in insolvency proceedings as refunded overpaid business rates can provide a substantial boost towards paying any creditors.

There are also specific exemptions applicable for a company that has begun insolvency proceedings absolving them of liability once they have entered liquidation.

As Purnells had been appointed as the insolvency practitioner in this case, they had the authority to instruct us.

We built an application to the council requesting the overlooked reliefs and exemptions be applied to Tim Martyn Building Supplies Limited's historic account.

The result:

Our application was successful on both fronts; creating a refund that could be used to pay any creditors as well as removing the ongoing liability with the council, meaning one less party to pay.

What our client had to say:

"Great job - Ruby Chapman ensured this matter was resolved quickly and easily - great outcome for the client"

Read the review

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