For over 30 years Richard Edwards Group LLP has been providing excellent advice and a first class service to our clients. We have a large portfolio of clients and service businesses across many sectors. Book one of our FREE INITIAL MEETINGS to start benefiting from our expertise today.

Fish and chip shop directors banned

Source: HM Government | | 23/01/2018

A recent investigation by the Insolvency Service has seen two married restaurant directors disqualified for a total of 5 years each. The Directors of Gambino Fish Ltd trading as Quality Fish, were the subject of an in-depth investigation by HMRC.

The investigation found that the directors caused or allowed the company to submit inaccurate statutory VAT returns. The company had failed to record all its cash takings and had therefore under-declared the VAT due to HMRC. As a result, HMRC raised a VAT assessment of £53,332. At liquidation, the company owed HMRC in excess of £164,000 in relation to VAT, PAYE and national insurance contributions and corporation tax.

The two company directors were disqualified after the Secretary of State for Business Energy and Industrial Strategy accepted the disqualification undertakings. The disqualification means that the directors cannot promote, manage, or be a director of a limited company for five years from 10 December 2017.

Commenting on this case Lawrence Zussman, Deputy Head of Investigations with the Insolvency Service, said:

'Much of the public service is funded by the correct amount of taxes being paid. By not declaring and paying the correct amount of taxes, the public has been deprived from receiving the services it deserves from the public sector. The Insolvency Service will not hesitate to take action against directors so they cannot abuse limited liability provided by trading through a company.'



 

Latest News

Anti-money laundering rules
17/10/2018 - More...
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by

New style £50 note to be introduced
17/10/2018 - More...
In a joint statement issued by HM Treasury and the Bank of England it had been confirmed that the £50 note is to continue to be part of the UK currency. The new £50 note will be


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login