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of <h1>Liquidators must notify the Commissioner within 30 days; directors may face liability for unrecovered taxes.</h1> When a company is being wound up, the appointed liquidator must inform the Commissioner within thirty days. The Commissioner will then determine the necessary amount to cover any tax, interest, or penalty due or likely to become due, notifying the liquidator within three months. If a private company is liquidated and its tax liabilities cannot be recovered, directors during the relevant period are jointly and severally liable, unless they can prove that the non-recovery was not due to their gross neglect, misfeasance, or breach of duty.
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