Case details for Vincent Griffith JONES

Name: Vincent Griffith JONES

Name: Speedshift Limited

Date of Birth: 25 / 10 / 1964

Date Order Starts: 11 / 1 / 2019

Disqualification Length: 3 Years 0 Month(s)

CRO Number: 06502339

Last Known Address: Penybont,, Brechfa,, , , CARMARTHEN,, SA32 7RH

Conduct: Mr Vincent Griffith Jones (“Mr V Jones”), caused Speedshift Ltd (“Speedshift”) to trade to the detriment of HM Revenue and Customs (“HMRC”) from at least 22 May 2014 in respect of Pay as You Earn/National Insurance Contributions (“PAYE/NIC”), and from at least 7 June 2014 in respect of Value Added Tax (“VAT”) to 4 January 2016, the date of liquidation. VAT

  • Speedshift registered for VAT with effect from 01 July 2008
  • Between 7 June 2014 and the return for 10/15 filed on 23 November 2015, Speedshift incurred VAT of £76,824 on returns and paid £3,600 in respect of those liabilities
  • At liquidation £6,468 remained outstanding for quarter 04/14 which should have been paid in full by 7 June 2014
  • At liquidation HMRC’s claim for VAT amounted to £73,224 and surcharges of 10,112 PAYE/NIC
  • The returns for 2014-2015 show that PAYE/NIC/Student Loans due for payment in the year totalled £25,083. Against this liability, an Employment Allowance of £2,000 was applied and payments of £1,509 were made leaving a balance of £21,574 outstanding. If all payments are allocated to the earliest in year liabilities, £97 remains outstanding for April 2014, due for payment by 22 May 2014.
  • The returns for 2015-2016 show that PAYE/NIC/Student Loans due for payment in the year totalled £13,166. Against this liability, an Employment Allowance of £2,000 was applied, leaving a balance outstanding of £11,166. No payments have been made against these liabilities. Comparative Treatment
  • In comparison between the date of last filed accounts for the year ending 28 February 2014 and the date of the liquidation, the amount owed to trade creditors fell from £86,375 to £74,000 whereas the amount owed to HMRC rose from £48,306 to £121,190.
  • Between 7 June 2014 and 4 January 2016 payments from Speedshift’s bank account totalled £2,622,608 of which, £39,389 was paid in respect of all outstanding liabilities for VAT. Between 22 May 2014 and 15 August 2014, £1,509 was paid in respect of PAYE/NIC/Student Loans. 

    This information is correct as at 2 / 1 / 2019


    Name: Michael Vaughan JONES

    Name: Speedshift Limited

    Date of Birth: 28 / 7 / 1967

    Date Order Starts: 11 / 1 / 2019

    Disqualification Length: 2 Years 6 Month(s)

    CRO Number: 06502339

    Last Known Address: Penybont,, Brechfa,, , , CARMARTHEN,, SA32 7RH

    Conduct: Mr Michael Vaughan Jones (“Mr M Jones”), allowed Speedshift Ltd (“Speedshift”) to trade to the detriment of HM Revenue and Customs (“HMRC”) from at least 7 June 2014 in respect of Value Added Tax (“VAT”) and from at least 22 May 2014 in respect of Pay as You Earn/National Insurance Contributions (“PAYE/NIC”), to 4 January 2016, the date of liquidation. VAT

  • Speedshift registered for VAT with effect from 01 July 2008
  • Between 7 June 2014 and the return for 10/15 filed on 23 November 2015, Speedshift incurred VAT of £76,824 on returns and paid £3,600 in respect of those liabilities
  • At liquidation £6,468 remained outstanding for quarter 04/14 which should have been paid in full by 7 June 2014
  • At liquidation HMRC’s claim for VAT amounted to £73,224 and surcharges of 10,112 PAYE/NIC
  • The returns for 2014-2015 show that PAYE/NIC/Student Loans due for payment in the year totalled £25,083.
  • Against this liability, an Employment Allowance of £2,000 was applied and payments of £1,509 were made leaving a balance of £21,574 outstanding.
  • If all payments are allocated to the earliest in year liabilities, £97 remains outstanding for April 2014, due for payment by 22 May 2014.
  • The returns for 2015-2016 show that PAYE/NIC/Student Loans due for payment in the year totalled £13,166. Against this liability, an Employment Allowance of £2,000 was applied, leaving a balance outstanding of £11,166. No payments have been made against these liabilities. Comparative Treatment
  • In comparison between the date of last filed accounts for the year ending 28 February 2014 and the date of the liquidation, the amount owed to trade creditors fell from £86,375 to £74,000 whereas the amount owed to HMRC rose from 48,306 to £121,190.
  • Between 7 June 2014 and 4 January 2016 payments from Speedshift’s bank account totalled £2,622,608 of which, £39,389 was paid in respect of all outstanding liabilities for VAT. Between 22 May 2014 and 15 August 2014, £1,509 was paid in respect of PAYE/NIC/Student Loans. 

    This information is correct as at 2 / 1 / 2019



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