Events over recent weeks involving the Far Right and the riots have been appalling. A recent news article in the Sunday Times highlights the murky business practices of Tommy Robinson and his associates.  

Tommy Robinson and his associates have created multiple companies which they have since sought to place into an insolvency process called a creditors’ voluntary liquidation (“CVL”) using the same insolvency practitioner from a national firm of Insolvency Practitioners.

Of all the companies detailed in the article, it is Hope and Pride Limited which has piqued the greatest interest.  Hope and Pride Limited entered into CVL in September 2023. According to the Statement of Affairs filed at Companies House, the company’s assets totalled £6,000 and its liabilities to HMRC totalled £8,000 for PAYE and £317,423 for corporation tax.

This means that at a corporation tax rate of 19%, Hope and Pride Limited made profits of £1,670,647!

The Statement of Affairs does not explain where or how these funds have been utilised.

The liquidator needs to file a progress report within by November 2024 setting out a summary of his investigations during the first 12 months of the liquidation which given recent events will make very interesting reading!