Case details for STEPHEN BABB

Name: STEPHEN BABB

Name: M & S Aluminium Systems Limited

Date of Birth: 26 / 6 / 1966

Date Order Starts: 11 / 1 / 2019

Disqualification Length: 5 Years 0 Month(s)

CRO Number: 03343382

Last Known Address: Little Thatch,, Brook Street,, Kingston Blount,, , CHINNOR, OX39 4RZ

Conduct: 1. Between 12 August 2011 and 11 January 2016, Stephen Babb (“Mr Babb”) allowed M&S Aluminium Systems LIMITED (“M&S”) to trade to the detriment of HM Revenue and Customs (“HMRC”) in that he failed to ensure that M&S complied with its statutory obligation to make payment of all monies due to HMRC, in respect of Value Added Tax (“VAT”), Pay As You Earn (“PAYE”) and National Insurance Contribution (“NIC”), and Corporation Tax (“CT”), thereby incurring a liability of £161,697.20 due to HMRC, of which £101,543.79 is due to HMRC in respect of VAT and late payment surcharges, £30,098.25 is due in respect of CT, £25,817.89 is due in respect of PAYE and NIC, penalties of £2,000, and interest of £2,237.27 in that: VAT

  • At 11 August 2011 M&S had no VAT debt. From 12 August 2011 to 11 January 2016 M&S incurred additional liabilities in respect of VAT. M&S lodged VAT returns on time for all VAT quarters. The additional VAT and late payment surcharges on returns for VAT periods June 2011 to March 2015 totalled £130,638.67.
  • Over the same period M&S made payments of £29,094.88 which reduced the additional VAT liability to £101,543.79.
  • At 11 January 2016 £101,543.79 was outstanding in respect of VAT and late payment surcharges. CT
  • At 11 January 2016 CT for years ending 31 December 2010, 2012, 2013 and 2014 totalling £30,098.25 was outstanding. This CT was due for payment from 01 October 2011.
  • From 08 March 2012 to 30 May 2012 payments in respect of CT were made totalling £13,247.28, being allocated to previous year corporation tax and corporation tax for year 31 December 2011. £30,098.25 remains outstanding as at 11 January 2016. PAYE & NIC
  • M&S had been in arrears paying PAYE and NIC since at least tax year 2010/11, payment of which was due 18 May 2011. From tax year 2010/11 to 11 January 2016 PAYE and NIC tax accrued totalling £116,654.39, against which payments totalling £90,836.50 were made. PAYE and NIC remained outstanding from tax year 2013/14 due from 22 August 2013. At 11 January 2016 M&S owed PAYE and NIC totalling £25,817.89.
  • Further interest and penalties are due totalling £4,237.27 DIFFERENTIAL TREATMENT
  • Between 30 September 2011 and 11 January 2016 M&S received income of £2,070,767.40. Taking account the opening overdraft, from available funds of £2,047,423.97 M&S paid £1,191,606.95 in respect of wages and trade related payments, at least £178,340.28 to or for the benefit and living expenses of co-director and himself, £106,563.67 was paid to HMRC, and £690 was drawn as cash. No records have been supplied to explain payments made totalling £570,223.07.
  • As a result, at the date of the winding up order, HMRC is owed £161,697.20, and BT £478.75. 2. From at least 28 February 2015 he allowed M&S Aluminium Systems Ltd (“M&S”) to transfer assets valued at £39,000 to a connected company for no consideration, which was to the detriment of HMRC. In that:
  • A sale agreement was signed and dated on 9 February 2015 by his co-director stating that M&S assets totalling £39,000 were sold to a connected company. Completion was to take place on 28 February 2015.
  • Payments terms agreed stated that £39,000 was to be paid by 30 March 2015 at the latest
  • M&S’s company accountant advised HMRC that M&S ceased to trade on 28 February 2015
  • Analysis of the company’s bank statements for the period 1 March 2015 to 11 January 2016, the date of the winding up order, confirms receipts of £413,668.99 into the account however these funds do not include payment of £39,000 for the transferred assets. Of the expenditure totalling £383,448.33 HMRC received payments of £4,500. 

    This information is correct as at 21 / 12 / 2018


    Name: Michael John BABB

    Name: M & S Aluminium Systems Limited

    Date of Birth: 9 / 9 / 1964

    Date Order Starts: 11 / 1 / 2019

    Disqualification Length: 5 Years 0 Month(s)

    CRO Number: 03343382

    Last Known Address: 2 Gable Cottages,, Reades Lane,, Gallowstree Common,, , READING, RG4 9DS

    Conduct: 1. Between 12 August 2011 and 11 January 2016, Michael John Babb (“Mr Babb”) caused M&S Aluminium Systems LIMITED (“M&S”) to trade to the detriment of HM Revenue and Customs (“HMRC”) in that he failed to ensure that M&S complied with its statutory obligation to make payment of all monies due to HMRC, in respect of Value Added Tax (“VAT”), Pay As You Earn (“PAYE”) and National Insurance Contribution (“NIC”), and Corporation Tax (“CT”),, thereby incurring a liability of £161,697.20 due to HMRC, of which £101,543.79 is due to HMRC in respect of VAT and late payment surcharges, £30,098.25 is due in respect of CT, £25,817.89 is due in respect of PAYE and NIC, penalties of £2,000, and interest of £2,237.27 in that: VAT

  • At 11 August 2011 M&S had no VAT debt. From 12 August 2011 to 11 January 2016 M&S incurred additional liabilities in respect of VAT. M&S lodged VAT returns on time for all VAT quarters. The additional VAT and late payment surcharges on returns for VAT periods June 2011 to March 2015 totalled £130,638.67.
  • Over the same period M&S made payments of £29,094.88 which reduced the additional VAT liability to £101,543.79.
  • At 11 January 2016 £101,543.79 was outstanding in respect of VAT and late payment surcharges. CT
  • At 11 January 2016 CT for years ending 31 December 2010, 2012, 2013 and 2014 totalling £30,098.25 was outstanding. This CT was due for payment from 01 October 2011.
  • From 08 March 2012 to 30 May 2012 payments in respect of CT were made totalling £13,247.28, being allocated to previous year CT and CT for year 31 December 2011. £30,098.25 remains outstanding as at 11 January 2016. PAYE & NIC
  • M&S had been in arrears paying PAYE and NIC since at least tax year 2010/11, payment of which was due 18 May 2011. From tax year 2010/11 to 11 January 2016 PAYE and NIC tax accrued totalling £116,654.39, against which payments totalling £90,836.50 were made. PAYE and NIC remained outstanding from tax year 2013/14 due from 22 August 2013. At 11 January 2016 M&S owed PAYE and NIC totalling £25,817.89.
  • Further interest and penalties are due totalling £4,237.27 DIFFERENTIAL TREATMENT
  • Between 30 September 2011 and 11 January 2016 M&S received income of £2,070,767.40. Taking account the opening overdraft, from available funds of £2,047,423.97 M&S paid £1,191,606.95 in respect of wages and trade related payments, at least £178,340.28 to or for the benefit and living expenses of himself and co-director, £106,563.67 was paid to HMRC, and £690 was drawn as cash. No records have been supplied to explain payments made totalling £570,223.07.
  • As a result, at the date of the winding up order, HMRC is owed £161,697.20 and BT £478.75. 2. From at least 28 February 2015 he caused M&S Aluminium Systems Ltd (“M&S”) to transfer assets valued at £39,000 to a connected company for no consideration, which was to the detriment of HMRC. In that:
  • A sale agreement was signed and dated on 9 February 2015 by him stating that M&S assets totalling £39,000 were sold to a connected company. Completion was to take place on 28 February 2015.
  • Payments terms agreed stated that £39,000 was to be paid by 30 March 2015 at the latest
  • M&S’s company accountant advised HMRC that M&S ceased to trade on 28 February 2015
  • Analysis of the company’s bank statements for the period 1 March 2015 to 11 January 2016, the date of the winding up order, confirms receipts of £413,668.99 into the account however these funds do not include payment of £39,000 for the transferred assets. Of the expenditure totalling £383,448.33 HMRC received payments of £4,500. 

    This information is correct as at 21 / 12 / 2018



    If you believe this page contains any errors, please email civil.proceedings.team@insolvency.gsi.gov.uk with details of the error that you have found.

  •