Two directors have been banned from acting as company directors as the result of tax offences including failure to submit VAT Returns, discharge PAYE and NI Contributions and concealment of tax liabilities.
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The Featured Case | Kangs Insolvency Solicitors
- Directors of two companies failed to submit VAT returns and committed a number of tax offences.
- The first company, at the point of its liquidation owed in excess of £470,000 to HMRC. It was uncovered that the company had received more than £3.8 million into its account, only paid £115,000 to HMRC and that more than £779,000 had been paid to a connected company.
- The second company’s sales and delivery income had been deliberately manipulated in order to conceal its true tax liabilities. With penalties for deliberate concealment, the company’s ultimate tax liability rose to £500,000.
- The directors of both companies have received Director Disqualification Orders as the result of which they are both banned from acting as a director of any company or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.
Official Comment | Kangs Company Offences Defence Solicitors
Keith Owen, Director of Investigations and Enforcement Services for the Insolvency Service, said:
“The majority of directors take their responsibilities seriously but [these directors] both deliberately caused their companies to abuse the tax regime, when they failed to pay the correct amount of tax.”
“Both restaurateurs have received substantial bans for their misconduct and this should serve as a clear warning to other directors that neglecting their statutory duties could lead to being removed from the corporate arena.”
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