Kilt Maker's finacial woes

[HenryT]

I found this in the Daily Record this morning:



SCOTLAND’S top celebrity kiltmaker is in danger of going out of business – just three years after setting up his firm.

Howie Nicholsby has designed kilts for a string of stars including Robbie Williams, Vin Diesel, KT Tunstall and Alan Cumming.

But the 33-year-old, who owns the 21st Century Kilts store in Edinburgh, is being chased by the taxman over unpaid debts.

HM Revenue and Customs have applied to Edinburgh Sheriff Court to have a liquidator appointed to have his firm, Howie Nicholsby Ltd, shut down.

Nicholsby is the sole director of the company and their latest accounts, filed in September last year, show they owed creditors £71,114 and had assets of £85,566.

Three years ago, he went out on his own after splitting from his family business.

Yesterday, Nicholsby admitted he had allowed his tax bill to get too high.

He said: “It’s my own fault, I’ve let it mount up too much. However, as far as I’m concerned, there is nothing to worry about and it’ll be sorted out.

“I’ve been dealing with the taxman and I’m surprised at this. I’m going to phone them to try to get this sorted.”

Geoffrey (Tailor) Kiltmakers, run by Geoffrey and Lorna Nicholsby, were set up in 1971 and went on to become one of Scotland’s leading kiltmaking firms.

However, Howie, their son, had growing business differences with his father and opened a shop in Edinburgh’s Thistle Street because he wanted to get away from the “tartan tat” sold on the Royal Mile.

He said trying to sell his trendy kilts alongside traditional ones sold by his dad was “a bit like selling Porsches next to a horse and cart”.

Last night, a spokesman for HMRC said: “We can’t discuss any individual’s tax affairs due to confidentiality.

“This action is only taken as a last resort after the person involved has had plenty of time to come to a settlement in relation to outstanding debts.”

Original article:
http://www.dailyrecord.co.uk/news/sc...6908-23779736/

[artificer]

Goodness, I hope Howie can get his tax bill sorted. I always enjoy seeing his creations.
Thanks for the link.
ith:

[Jordan]

Dam that's bad, I've half been thinking about asking him to make my kilt in the Ryleth set that is havent got round to doing anything with yet.

I hope everything works out for him!

[auld argonian]

Like I once told a friend who was in similar circumstances with the sales tax, "They don't want to put you in jail, they just want their money. If you're in jail, they have to pay to feed you and that's just throwing good money after bad."

Hopeful that a plan can be worked out. The guy is obviously quite brilliant with those kilt suits and they should have a wider audience than they do. Just not enough pinstripe guys out there wi' the b@lls to show up in a kilt suit.

Best

AA

[seanachie]

A fair number of years ago during the Internet boom, I was lucky enough for the one and only time in my life to get a nice (though by no means significant) bonus check. The company for whatever reason did not take any taxes, many of my co workers over looked this and used the proceeds for purchasing all kinds of stuff. I took 40% put it in my savings account for the tax man and still at the end of the year owed some. There is a reason why the say in life only death and taxes are sure things and owing the tax man is a brutal and merciless thing. I hope he gets this sorted.

[dfmacliam]

I hope he takes care of this, and plans to be more on top of his tax issues... He is a very big name in the contemporary kilt market, and it would be a shame to see him loose it all.... Though I am sure there are several kiltmakers willing to fill his spot..

[Canuck]

I hope he takes care of this, and plans to be more on top of his tax issues... He is a very big name in the contemporary kilt market, and it would be a shame to see him loose it all.... Though I am sure there are several kiltmakers willing to fill his spot..

hmmm yes I concur with the last sentence... ;)
But honestly I wish him all the best. I've survived a tax audit... I managed to be OK, I had screwed up the tax on postage.... but it was still three weeks of them in my shop pouring over my books! They wouldn't even sew whilst they were here. The nerve....

[Tobus]

He said trying to sell his trendy kilts alongside traditional ones sold by his dad was “a bit like selling Porsches next to a horse and cart”.

If he's referring to his modern kilts as Porsches and traditional kilts as a horse and cart, I think he's reaching a bit. That seems mildly derogatory towards traditional kilts, and displays a rather over-blown sense of self-esteem.

Nevertheless, I hope he comes through this.

"They don't want to put you in jail, they just want their money. If you're in jail, they have to pay to feed you and that's just throwing good money after bad."

True. But if the UK revenue/tax agency is anything like the American one, jail was never on their minds anyway - they just want to take what you "owe" them, even if it's everything you have. If that destroys you and makes you a mendicant on the streets, it's no skin off their backs. They will sleep soundly at night knowing that they've done their job for Queen and country.

[RAF]

Hope he straightens things out. I can understand his wish to make his own mark, but his lack of business sense is a bit surprising. And his attitude towards his parents shop is unfortunate, given that he would not have a business at all were it not for his parents and others' more traditional shops. Rather disappointing as he seems to have little respect for his "roots." I do like his aesthetic - perhaps this "reality check" will ground his ego a bit so he can get on with the business at hand.