Case details for Serdar KILIC

Name: Serdar KILIC

Name: PFK Limited

Date of Birth: 25 / 9 / 1976

Date Order Starts: 10 / 6 / 2019

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 06521957

Last Known Address: 6 Greenwood Close,, , , , MORDEN, SM4 4HX.

Conduct: Between May 2011 and 30 September 2016 Mr Serdar Kilic (Mr Kilic) caused PFK Limited to suppress it sales income in VAT returns made to HMRC resulting in HMRC raising VAT assessments. The total amount claimed by HMRC in respect of VAT liabilities for this period is £173,672 which includes assessments, fines and penalties.

  • HMRC performed a till interrogation and analysis of the accounting records during 2015 and 2016 for the periods between May 2011 and June 2015 in respect to PFK Ltd.
  • Following a visit at the business premises and analysis of the accounting records it was determined that PFK Ltd had under declared purchase invoices between quarters ending May 2011 and June 2014, in that during this period the outputs declared totalled £56,951 whereas HMRC’s investigation disclosed outputs received at £218,744 leaving undeclared purchases totalling £161,792.
  • Subsequently 10 covert observations were conducted by HMRC on various dates in June 2015. When these were compared to the business records it was identified that only 5 of the 10 occurrences were declared.
  • As a consequence of these findings HMRC determined that he had under declared PFK Ltd’s VAT by 50%.
  • HMRC imposed penalties totalling £160,777 on him because of the deliberate inaccuracies by suppressing a large percentage of supplier invoices and subsequently not keying in every sales transaction through the till. 

    This information is correct as at 21 / 5 / 2019

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