Case details for DAVID WILLIAMS

Name: DAVID WILLIAMS

Name: IDEAL AEROSPACE LIMITED

Date of Birth: 13 / 4 / 1991

Date Order Starts: 19 / 12 / 2018

Disqualification Length: 4 Years 0 Month(s)

CRO Number: 06807283

Last Known Address: 35 Linchmere Road, , , , BIRMINGHAM, B21 8JL

Conduct: Between 06 May 2015, when David Williams (Mr Williams) was appointed as a director of Ideal Aerospace Limited (IAL), and 22 November 2016 when IAL entered into Liquidation, he failed to ensure that IAL made full payments to Her Majesty’s Revenue and Customs (“HMRC”) HMRC in respect of Value Added Tax (“VAT”) , Pay As You Earn (“PAYE”), National Insurance Contributions (“NIC”) and Corporation Tax as and when they fell due and caused IAL to trade to the detriment of HMRC. VAT

  • In the period of his directorship, 06 May 2015 to 22 November 2016, seven VAT returns were due to be submitted to HMRC.
  • IAL submitted six returns in the period quarter ending June 2015 to quarter ending June 2016 resulting in VAT liabilities of £125,680, HMRC applied surcharges of £14,086.
  • HMRC raised an assessment for quarter ending September 2016 for £22,285 and surcharges of £3,343.
  • New VAT liabilities of £165,394 accrued during the time he was a director. Payments in the total sum of £72,365 were made in the period of his directorship which HMRC have allocated to both previous and on going liabilities.
  • HMRC’s claim in the Liquidation in respect of VAT is £127,493 of which £114,950 was due to be paid before IAL entered liquidation.
  • On 8 October 2015, HMRC issued a notice of requirement to him to provide security for £67,466 in respect of VAT, no security was provided. PAYE/NIC
  • From 6 April 2014 to 5 April 2015, online returns were submitted to HMRC resulting in liabilities of £23,337, payments of £21,342 were made against these liabilities leaving a balance of £1,995 outstanding in this period.
  • From 6 April 2015 to 5 April 2016, online returns were submitted resulting in liabilities of £36,931, payments of £29,512 were made against these liabilities leaving a balance of £7,419 outstanding in this period.
  • From 6 April 2016 to September 2016 online returns were submitted resulting in liabilities of £22,837, a payment of £3,557 was made against these liabilities, leaving a balance of £19,280 outstanding for the period.
  • Upon the commencement of his directorship on 6 May 2015, IAL had an outstanding liability of £19,658 in respect of PAYE and NIC.
  • HMRC have claimed £29,785 (including intertest) in respect of PAYE and NIC in the Liquidation and £6,102 in respect of National Minimum Wage (NMW) regulation penalties; the NMW penalties have not been included in the allegation figure. Corporation Tax
  • HMRC have claimed £38,662 in respect of Corporation Tax for the period 1 March 2014 to 28 February 2015, which payment fell due by 1 October 2015. Comparative Treatment
  • Financial Accounts for year ending 28 February 2015, show amounts recorded as owing to HMRC to be £82,955, no amounts were owed to trade creditors. At the date of Liquidation the liabilities to HMRC have increased by £119,087 to £202,042 The Insolvency Service is criticising an increase of £100,442 to £183,397; £12,543 of VAT due after IAL entered liquidation and £6,102 of HMRC penalties in respect of the company not meeting the National Minimum Wage (for which the Insolvency Service found no evidence) have not been included in the allegation figure. During the same period trade creditors have increased by and to £12,969.
  • IAL’s Bank statements for the period 6 May 2015 to the date of Liquidation shows that £883,924 was expended from the account of which £118,635 can be identified as being paid to HMRC. 

    This information is correct as at 14 / 12 / 2018



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