Impact Contracts (Glasgow) Limited, a builder and property developer based at Craigton Industrial Estate in Glasgow, has officially gone into liquidation following court action brought by HM Revenue and Customs (HMRC). The company, which was established just six years ago, has entered compulsory liquidation.
Court Proceedings and Liquidator Appointment
The case was heard at Glasgow Sheriff Court after HMRC submitted a winding-up petition against the company. A notice has since confirmed that Julie Tait, of Grant Thornton UK Advisory & Tax, has been appointed as liquidator to oversee the firm's affairs.
Company Financials and Staff
The company, which describes its business as the development of building projects, employed five members of staff according to its latest available accounts. Those accounts, covering 2024, show the business had total assets of £328,155, while creditors owed within one year stood at £247,184. It also reported capital reserves of £98,725.
HMRC's Approach
HMRC declined to comment on the circumstances surrounding the individual company because of taxpayer confidentiality. However, a spokesperson said: "We take a supportive approach to dealing with customers who have tax debts and only file winding-up petitions once we've exhausted all other options, in order to protect taxpayers' money."
Insolvency Trends in Scotland
The liquidation comes as the number of company insolvencies across Scotland has fallen compared with a year earlier. According to the latest figures from the Accountant in Bankruptcy (AiB), there were 240 corporate insolvencies recorded between April and June 2026, down from 332 during the same three-month period in 2025 – a drop of 27.7%.
The data also showed compulsory liquidations fell from 167 to 97 over the year, while creditors' voluntary liquidations decreased by 13.3%. Meanwhile, members' voluntary liquidations rose slightly, increasing from 119 to 127 over the same period. Separate figures from the Insolvency Service show 104 company insolvencies were registered in Scotland during June, broadly in line with the number recorded in the same month last year.
