Case details for STEPHEN PAUL HOLDING

Name: STEPHEN PAUL HOLDING

Name: S P HOLDING TRACTOR HIRE LIMITED

Date of Birth: 15 / 11 / 1967

Date Order Starts: 6 / 12 / 2018

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 04269243

Last Known Address: UPPER COALMOOR FARM, MORETON COPPICE, , , TELFORD, TF4 2PX

Conduct: Stephen Holding (“Mr Holding”) caused SP Holding Tractor Hire Limited (“Tractor Hire”) to trade to the detriment of HM Revenue and Customs (“HMRC”) from 22 March 2014 in respect Pay as You Earn Income Tax (PAYE) and National Insurance Contributions (NIC) and 07 August 2014 in respect of VAT until he resigned from the company as director on 26 January 2016. In that: a) Pay As You Earn (“PAYE”) and National Insurance Contributions (“NIC”)

  • HMRC’s claim in the administration in respect of PAYE and NIC is £208,989
  • Payments totalling £185,094 were made against the 2013/14 liability of £218,931 leaving a total liability remaining of £33,837.
  • Payments totalling £87,728 were made against the 2014/15 liability of £192,479 leaving a total liability remaining of £104,751.
  • Payments totalling £18,837 were made against the 2015/16 liability of £102,442 leaving a total liability of £86,304 of which £75,906 was outstanding at the date of his resignation.
  • The last payment made by the company against it’s PAYE liability was on 22 June 2015 in the sum of £7,002.08 b) Value Added Tax (“VAT”)
  • HMRC’s total claim in the liquidation in respect of VAT is £286,690, of which at least £121,900 is attributable to the period when he was sole director.
  • Company returns were submitted up to the tax periods 09/14.
  • Full payments were made against the VAT liabilities for the periods to 03/14 inclusive.
  • The earliest period of outstanding VAT liability is for period 06/14 with the liability remaining of £2,787 for this period.
  • HMRC issued an assessment for the periods 12/14 to 03/16 inclusive as no company returns were submitted.
  • Charges imposed to the date of his resignation total £14,234. c) Different Treatment
  • The end of year accounts for Tractor Hire dated 31 March 2015 show comparison figures for the year ending 31 March 2014. For the year ending 31 March 2014 the accounts show trade creditors of £618,618, amounts owed to group undertakings of £148,903 and taxation and social security of £33,150. For year ending 31 March 2015 the accounts show trade creditors of £533,254, amounts owed to group undertakings of £526,120 and taxation and social security of £238,040
  • The Statements of Affairs dated 17 May 2016 shows trade and expense creditors of £324,800 and whilst it does not show any liability for amounts owed to group undertakings, it is possible that an amount might be owed.
  • The Statement of Affairs did not include an amount owed to HMRC for taxation or social security, though HMRC has since submitted a claim in the proceedings for PAYE/NIC and VAT of £495,680.
  • Between 29 April 2014 and 26 January 2016, Tractor Hire received total deposits into its bank account of £4,867,362 and made total payments of £4,326,495. Of this sum, HMRC was paid £7,002 in direct payments and £74,420 by cheque, whilst HMRC ledgers show that payments of £106,711 were made. 

    This information is correct as at 22 / 11 / 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.

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