Dunstall issued a statement in response to a number ofPrintWeek questions about events that resulted in the company’s demise.
He specifically addressed concerns over the firm’s pension scheme after former employees of the company questioned the whereabouts of their pension contributions.
Dunstall told PrintWeek: “The Global employees pensions funds were paid to Source Pensions on 20 June 2014. A total of £115,701 was transferred and all employees who gave Source a personal email address received a confirmation email.”
Alastair Burt, managing director at Source Pensions, has subsequently confirmed to PrintWeek that the firm has received the money. Burt said it was held in trust and is safe.
“At the moment we don’t know which bit of money relates to each member of staff. As soon as we do we will write to each of them with a detailed letter explaining their options,” he explained.
Source is working with law firm DLA Piper to unravel the payments.
“We are desperately keen to get it sorted out for the members. I’m sure we will have more information soon,” Burt added.
Former Global MP employees should email[email protected] with ‘Global MP’ in the subject line, and their current contact details, to ensure Source has their most up-to-date information.
Questions have also been raised about Global MP’s payment record with HMRC. According to internal Global MP documents seen by PrintWeek, in February this year the firm owed HMRC almost £312,000 in PAYE for the tax year 2013-2014.
Dunstall claimed the firm had subsequently agreed an offset arrangement with HMRC.
He said: “Global operated an offset arrangement with HMRC, where Global’s monthly VAT rebate was used to offset PAYE and the balance was returned to global. As at my departure on Tuesday 1st [July] Global had one month’s arrears and the current PAYE outstanding. With June’s VAT return estimated to be approximately £260k both period two arrears and period three current should have been cleared. I am led to believe June 2014 VAT return was filed. The Global senior management team worked to meet any Crown liabilities and working in conjunction with HMRC PAYE I believe we were successful.”
Dunstall’s previous business, Prospect Mailing Services, had owed HMRC £373,249 in PAYE and NI contributions, and £335,920 in VAT when he placed it into administration in November 2013.
However, Dunstall refuted claims from a former Global MP employee that his attitude to HMRC payments was “cavalier”.
“I would not have worked so closely with HMRC to establish the offset arrangement if this were true,” Dunstall said.
He also said that the amount he had been paid in management fees was confidential, but were not of the level of £25,000 a month that had been suggested.
Internal accounts seen by PrintWeek show a management charge to Cogent B2B, the Dunstall vehicle that acquired the St Ives Direct Bradford business, of £250,000 per annum, with a forecast that this would rise to £300,000 in the 2014-15 financial year.
Dunstall’s statement said: “With regards to any management fee charged, this is confidential but I can confirm that it is by no way the figures that are quoted in PrintWeek by its readers.”
He also added that the joint administrators at Baker Tilly would verify his assertions.