FIREBRAND politician George Galloway’s company Miranda Media has gone into compulsory liquidation with tax debts of £100,000.
The London mayoral hopeful who founded the company in 2007, used the firm to process his earnings from London-based Iranian state TV channel, Press TV.
Nick Nicholson, head of insolvency at Haslers, the Loughton-based accountancy outfit, who specialises in the identification and recovery of assets into insolvent estates, said his firm had spent around £25,000 investigating the matter.
He confirmed a report in the Telegraph that Miranda Media had entered into compulsory liquidation owing £100,284.76 to HMRC and had taken the company to court over the matter.
Documents filed at Companies House reveal that in May 2013, Galloway resigned as Miranda’s director.
The four-times married Scotsman, dubbed “Gorgeous George”, has briefed lawyers to negotiatiate with the liquidators.
Galloway, who in 2005 – on a Respect Party ticket – defeated Oona King, the incumbent Labour MP for Bethnal Green and Bow – by just 823 votes, disputes the £100,000 figure, suggesting the amount is nearer £40,000.
Head of editorial Kevin Reed discusses this week's important accountancy news, including Brexit and audit market evolution
Phil Pierce and Ben Woolrych, partners at FRP Advisory, have sold out of administration the business and assets of Kiveton Park Steel Limited
The latest edition of our 'Seven Days in Accountancy' quiz is here
CIoT has warned that businesses undertaking some commercial transactions will face unnecessary uncertainty because of a lack of clarity about the breadth of a new anti-avoidance tax rule