Case details for IAN NICHOLAS WESTWOOD

Name: IAN NICHOLAS WESTWOOD

Name: THE YACHT CATERING COMPANY LIMITED

Date of Birth: 3 / 7 / 1964

Date Order Starts: 22 / 3 / 2019

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 05919857

Last Known Address: 11 Whitebeam Close, Golden Common, , , WINCHESTER, SO21 1AJ

Conduct: Mr Ian Nicholas Westwood (“Mr Westwood”) caused The Yacht Catering Company Ltd (“Yacht Catering Company”) to trade to the detriment of Her Majesty’s Revenue and Customs (“HMRC”) in respect of Value Added Tax (“VAT”) and PAYE/NIC from 1 July 2016 to 12 June 2017, and as a result the company was placed into liquidation:

  • Yacht Catering Company entered a Creditors Voluntary Arrangement (“CVA”) on 30 June 2016. The only creditor listed was HMRC and it was a condition of the arrangement that future tax returns to them were submitted on time and paid in full. VAT
  • The first two VAT returns due in the post CVA period, for the quarters ending 06/16 and 09/16, were submitted on time but without payment.
  • The VAT return for the quarter ending 12/16 was submitted late and without payment.
  • VAT assessments were raised for the quarters ending 03/17 and 06/17 due to the VAT returns not being submitted.
  • Surcharges totalling £10,437 were imposed for the quarters ending 06/16, 09/16, 12/16, 03/17 and 06/17.
  • Yacht Catering Company made one payment of £4,000 in the post CVA period.
  • At the date of liquidation, £171,830 was owing to HMRC in respect of the VAT returns, assessments and surcharges, of which £76,015 was incurred in the post CVA period. PAYE/NIC
  • Yacht Catering Company made the required Real Time Information (“RTI”) returns in respect of PAYE/NIC in the post CVA period and made one payment of £1,559.
  • HMRC have charged interest of £9.
  • At the time of liquidation, £63,554 was outstanding in respect of PAYE, NIC and interest, of which £24,474 was incurred in the post CVA period. Total liabilities at liquidation At cessation of trade HMRC was Yacht Catering Company’s largest creditor with debts totalling £235,384, of which £100,489 had been incurred in the post CVA period. At this date other creditors stood at £85,877 

    This information is correct as at 5 / 3 / 2019



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