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Appendix A —Director’s Statement of Affairs and List of Creditors

The Joint Administrators have been notified of additional unsecured creditor claims beyond those included in the Director's Stalement of Affairs. In accordance
with Rule 3.35 (i)(i) and R3.35 (2) and (3) IR16 a list of creditors has been provided

The Faorvis Mazars Joint Administrators pass no comment on the creditors list below and provide this list with the sole purpose of complying with their
interpretation of the relevant sections of [R16

Company Creditor - Schedule B - Creditors
PPE Madpro Limited (Registered Number - 12597000)
Key Name Address Amount Of Debt £

CADOGO Ange'o (PTC) Lemited ga Samuel Karns House, & 11 St Georges Strect, Douglas. Isic of Mar IM? 1AL 1,000.060.00

eM Revenue & Customs

x00 Pus 2 eeravonal LUND foo! New ofree. square, Londo, 38 SIEKNOW
codes Trasspertect Legal 33 Arigate House. London. EC3N 14H unknown
CT0001 The Depanment of Health and Social Care Ministenal Correspondence and Public Enquiries Uni. 39 Viciona Street, London. SWtH OEU 148.045.993.00

6 entries totalling 188,262,228.88
Nov 6, 2025 Investigations

Douglas Barrowman and Michelle Mone may have avoided tax on their £65m PPE profits

During the pandemic, Douglas Barrowman’s company, PPE Medpro, sold £200 million of PPE to the Government. It made £65m profit, which went into trusts benefiting Barrowman and Mone’s families. Most of the PPE was later ruled to breach sterility standards but, rather than repay the money, Barrowman put PPE Medpro into administration. New documents show […]
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Rachel Reeves plans Budget tax raid on
expensive homes

UK chancellor predicted to plump for ‘least worst option’ of creating higher council tax
bands in England
Nov 2, 2025 Policy

Council tax on ‘expensive homes’ – but most of the money comes from the not-so-rich

The FT has reported that Rachel Reeves is planning a “Budget tax raid on the owners of expensive homes”, expected to raise around £4bn. But less than a 20% of that revenue comes from homes in the top council tax band, while roughly 80% comes from the much larger group of homes in the second-highest […]
YOU May be abie to issue your Claim onuine wnicn Claim no.
may save time and money. Go to www.moneyclaims.
service.gov.uk/make-ctalm to find out more. Issue date

Claimant(s) name(s) and address(es) including postcode KORO
Setu Kamal Palm Jumeirah, Dubai, oN

UAE 00000 a "AL pan:
c “48 hers 2025 +;
z/

a of
Defendant(s) name and address(es) including postcode e & f
Tax Policy Associates, a non-profit company limited by guararntee, no 14053878: £4 DitycRo “London

EC1V2NX (First Defendant)

Dan Neidle, 124 City Road, London, EC1V2NX (Second Defendant) KB-2026-003209
NOT FOR
SERVICE OUT OF
JURISDICTION
Brief details of claim

The Claimant brings claims in libel pursuant to section 1 of the Defamation Act 2013 and, in the
alternative, malicious falsehood pursuant to the common law and section 3 of the Defamation Act 1952.
The claims are against the First Defendant, Tax Policy Associates Limited, and the Second Defendant,
Dan Neidle, in respect of online publications falsely alleging that the Claimant has engaged in unethical,
unlawtul or failed tax avoidance activity, that he poses a risk to the public, and that his legal claim against
the Defendants is abusive and intended to suppress scrutiny. The Claimant seeks damages (including

aggravated damages), an injunction restraining further publication, and a published apology, for serious
rani itatinnal harm and/nr neriiniary: Ince eqiicand
Oct 23, 2025 Investigations

I’m being sued for £8m for a report on tax avoidance

I am being personally sued for more than £8m by a barrister, Setu Kamal. I believe this is one of the largest English libel claims ever made. Mr Kamal objects to a report we published back in February about a firm called Arka Wealth (which appears to have since gone out of business). In September […]
= Q THE sa 4sTIMES Home UK World Comment Life&Style Business & Money

Times+

My account Vv

Steven Swinford, Political
Editor

Tuesday October 21 2025,

6.00pm, The Times

Budget

Economics

MK VIDEO

Tax raid on solicitors and GPs
as Rachel Reeves targets
wealthy

The chancellor considers the national insurance exemptions offered by
limited liability partnerships to be unfair, and will use her budget to
change the rules

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Oct 21, 2025 Policy

The £2bn lawyer tax – should Rachel Reeves tax LLPs?

Doctors, lawyers, accountants, fund managers, and other high earning professionals are often members of partnerships and LLPs. They’re not employees – and so there’s no 15% employer national insurance. This creates a big tax saving. The Times is reporting that Rachel Reeves is considering changing this – and that it could raise £2bn. UPDATE evening […]
Chance

GET OUT OF

JAML FREE a

‘IMS CARD MAY BE KEPT UNTA. NEEDED OR SD
Oct 20, 2025 Analysis

Criminalising tax avoidance – I’ve changed my mind

We’ve investigated many tax avoidance schemes. None of them had any technical merit – indeed many were closer to tax evasion than tax avoidance. All of the schemes, without exception, should have been disclosed to HMRC under DOTAS – the rules requiring up-front disclosure of tax avoidance schemes. None of them were. The whole point […]
A handwritten note by Claire Gill saying: They will bring in blockchain -> if no blockchain -> scam -> fraud -> criminal
Oct 19, 2025 Investigations

Carter-Ruck enabled the $4bn OneCoin fraud. Was it a crime?

Carter-Ruck, Britain’s most famous libel firm, threatened whistleblowers, journalists, regulators and even the police on behalf of OneCoin, a $4 billion crypto-fraud. The firm played a key role in helping the fraud to continue. Did Carter-Ruck cross the line, and commit a criminal offence? OneCoin’s founder is now on the FBI’s Ten Most Wanted list; […]
Companies House filing showing Nikolay Storonsky changing his residence from UK to UAE
Oct 11, 2025 Analysis

Could we have stopped Revolut’s founder from leaving the UK?

Nik Storonsky, the billionaire founder of Revolut, has reportedly left the UK and become tax resident in Dubai – a move that could save him more than £3 billion in UK capital gains tax. His departure raises a larger question for the UK tax system: could we have stopped him leaving? Either with the carrot […]
Property118 - a duff inheritance tax structure
Oct 6, 2025 Investigations

The problem with unregulated tax advisers: a scheme from Property118 that could cost clients £100k+

Most of the HMRC losses from tax avoidance aren’t from multinationals or billionaires – they’re from small businesses, who’ve often been sold disastrous schemes by unregulated advisers. It’s a mis-selling problem as much as a tax problem. This report presents one example – but the internet is full of many, many others. The media focus […]
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Oct 4, 2025 Analysis

PPE Medpro made £200m but never filed full accounts. The law should change.

PPE Medpro is the company which provided £200m of PPE to the Government in dubious circumstances, of which £122m was faulty. Reports suggest it made £65m profit – but we can’t know for sure. Its finances are a mystery, because it was allowed to file only abridged accounts. Why? Because under UK law, PPE Medpro […]

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