Case details for George Herbert FINCH

Name: George Herbert FINCH

Name: DIAMOND MOTION LIMITED

Date of Birth: 28 / 11 / 1966

Date Order Starts: 25 / 2 / 2019

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 05494153

Last Known Address: 74 Stapleton Lane, , , , LEICESTER, LE9 8HE

Conduct: George Herbert Finch (“Mr Finch”) failed to ensure that Diamond Motion Limited ("Diamond Motion") complied with its statutory duties to file returns and make payments to HM Revenue & Customs ("HMRC") as and when due and caused Diamond Motion to trade to the detriment of HMRC in respect of Value-Added-Tax ("VAT") from at least 07 November 2014 and in respect of Corporation Tax ("CT") from at least 01 January 2017 until the date of the Winding up Order on 21 February 2018. As a result, at least £45,687 was due to HMRC at the date of liquidation. In that:

  • VAT returns submitted for the periods 09/14 to 03/17 totalled £23,461. No VAT returns were filed by Diamond Motion for the periods 06/17, 09/17 and 12/17 and as a result HMRC assessed the total amount due at £5,834. A payment of £1,644 was made towards the periods 09/14 to 12/17 leaving the sum of £27,651 outstanding together with surcharges totalling £4,394.
  • CT returns filed for the years ended 31 March 2015 and 31 March 2016 total £18,790. A payment of £700 was made leaving an outstanding balance of £18,090.
  • HMRC submitted a claim in the liquidation for £47,824, consisting of VAT of £33,218 (of which £32,045 was due at the date of liquidation), CT of £18,090 and interest of £964 less a reduction applied by HMRC of £4,448.
  • Diamond Motion's accounts for the years ended 31 March 2014, 31 March 2015 and 31 March 2016 record that its liabilities to HMRC increased from £14,816 to £39,581 whilst its other creditor liabilities decreased from £40,672 to £15,482 over this period.
  • At liquidation, Diamond Motion had total liabilities of £67,391. HMRC was Diamond Motion's largest creditor with debts totalling £47,824 (including interest). At the date of liquidation, trade creditor liabilities totalled £1,235 and other creditor liabilities totalled £18,332 (which includes a third party legal claim totalling £11,653).
  • At the date of liquidation, at least £19,781 was owed to Diamond Motion from Mr Finch under the director's loan account. 

    This information is correct as at 11 / 4 / 2019



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