On the same theme as part 1 of this post, we have also recently seen resolutions relating to the destruction of accounting records being taken at the final meetings of creditors in bankruptcies and compulsory liquidations. Such resolutions are not appropriate and should not be sought as under the Insolvency Regulations 1994 the power to authorise the destruction of the debtor’s/company’s accounting records rests with the Official Receiver.
To obtain authority to destroy the records you first need to seek clearance from HMRC – the relevant Inspector of Taxes, VAT insolvency unit in Bootle, and the Inland Revenue’s claims handling unit at Longbenton – as part of your closing procedures prior to the final meetings and then send a completed BPDC (Books and Papers Destruction Form) to the OR. The form can be download from the Insolvency Service web-site.
