Case details for SARAH AUSTIN



Date of Birth: 19 / 11 / 1970

Date Order Starts: 26 / 3 / 2019

Disqualification Length: 4 YEARS Years  Month(s)

CRO Number: 05141952


Conduct: She failed to ensure that OSM Ltd met its financial commitments as regards to Value Added Tax (“VAT”) and Corporation Tax (“CT”) including S455 tax levied on her overdrawn Director’s Loan Account “DLA”, and caused OSM Ltd to continue trading whilst withdrawing funds for the benefit of herself. As a result OSM Ltd became unable to meet its financial commitments to HMRC as and when they became due from 07 October 2016. In that:

  • VAT returns were submitted for all quarters until 02/17;
  • No returns were submitted in respect of the 05/17 and 08/17 quarters for which HMRC raised an assessment in the sum of £10,416 together with surcharges of £1,562;
  • The balance due at liquidation in respect of the 08/16 to 08/17 quarters is £21,739 which was due from 07 October 2016;
  • In respect of the financial year ending 30 June 2016, £8,057 CT and £7,795 Section 455 tax became due to HMRC on 1 April 2017 against which no payment was made;
  • Subsequently, during the period 01 July 2016 and liquidation, monies totalling at least £84,070 was paid to her excluding wages out of total payments of £119,885 thus further increasing her DLA;
  • Between 07 October 2016 and liquidation £105,478 was paid out of the bank account of which £82,600 was paid to her and £6,665 was paid to HMRC of which £2,000 was for VAT;
  • At the date of liquidation, the sum of at least £84,006 was owed to creditors including at least £68,323 to HMRC. 

    This information is correct as at 6 / 3 / 2019

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