t: 01633 240080,  f: 01633 240081

24 Bridge Street, Newport NP20 4SF

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

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


Copyright © 2018 Haasco Limited (Company registration 7030921). Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales (Firm C003118150). Indemnity insurer - Axis Speciality Europe SE (Policy 374997016)

Cookie Policy