Leeds-based adviser firm goes under after pension transfer permission loss

Hannah Godfrey reports...

Leeds-based adviser firm Capital & Income Solutions has entered administration.

The firm fell into liquidation on 17 January after losing pension transfer permissions in June last year. According to the Statement of Affairs document found on the firm’s Companies House entry, the firm lost £2.5m from 29 August 2017 to the date it wound up.

As of 14 January 2020 it owed more than £1m to various creditors, including £150,000 to loan creditors, £405,000 to trade creditors and £410,000 to HM Revenue & Customs, £350,000 of which was estimated to be for corporate tax.

In early February 2017, it first appeared the firm would close, with a compulsory strike-off filed on 7 February. Just four days later the strike-off action was discontinued. A similar thing happened in December 2014 – a strike-off action was made on 23 December and then discontinued on 30 December.

Then in July 2019, a notice for compulsory strike-off was filed in July 2019, but the strike-off was discontinued in September.

Crawfords Accountants owner Alex Kachani has been appointed as Capital & Income Solutions administrator.

The business could not reach Capital & Income Solutions for comment.