UK recruiter emerges from insolvency for third time, avoiding millions owed in tax Hampshire business seems to have benefited from ‘phoenixism’, which costs the taxpayer about £800m a year

This is straight up #fraud.

Run up debts.
Extract money from business.
Put company into administration
Liquidate company
Owners buy back company for pennies.
HMRC and creditors get nothing.

#Phoenixism costs UK taxpayers £800m per annum. 22% of lost taxes.

www.theguardian.com/uk-news/2026...

Still wondering why @uklabour.bsky.social are so hell bent on making the poor poorer .. #BenefitsBill .. they could save more money by simply ordering #HMRC to go after #Phoenixism & other tax dodging schemes.