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of <h1>Liquidators Must Notify Commissioner Within 30 Days; Directors Liable for Unpaid Taxes Unless Proved Otherwise.</h1> When a company is in liquidation, the appointed liquidator must inform the Commissioner within 30 days of their appointment. The Commissioner, after necessary inquiries, will notify the liquidator within three months of the amount required to cover any taxes, interest, or penalties due or likely to become due. If a private company is wound up and taxes, interest, or penalties cannot be recovered, directors during the relevant period are jointly and severally liable unless they prove non-recovery is not due to their gross neglect, misfeasance, or breach of duty.
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