Case details for DAVID MADDISON

Name: DAVID MADDISON

Name: SLM CREDIT SOLUTIONS LIMITED

Date of Birth: 19 / 4 / 1962

Date Order Starts: 7 / 11 / 2018

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 07733566

Last Known Address: 35 HIGHFIELD CRESCENT, , , , RAYLEIGH, SS6 8JP

Conduct: David Maddison (“Mr Maddison”) caused or allowed SLM Credit Solutions Limited (“Solutions”) to trade to the detriment of HM Revenue & Customs (“HMRC”) from at least October 2015 to liquidation on 1 March 2017, in that:

  • Solutions commenced trading in 2011 and was placed into liquidation on 01 March 2017. Corporation Tax (“CT”)
  • CT of £5,209.20 was due in respect of the year ended 30 September 2014, by 01 June 2015. However, by the date of liquidation, only £2,103.78 had been paid in respect of this, £3,105.42 remaining outstanding.
  • No CT return had been filed in respect of the year ended 30 September 2015. VAT
  • VAT of £8,692.90 due for the quarter ended 30 November 2015 should have been paid no later than 07 January 2016, but remained outstanding at liquidation.
  • VAT returns together with any payment due thereon should have been filed and paid in respect of the quarters ended February 2016, May 2016, August 2016 and November 2016 by the date of liquidation. However no returns or payments were made, resulting in HMRC raising an assessment for the period 01 December 2015 to liquidation totalling £43,895.00. PAYE/NIC
  • PAYE/NIC totalling £20,595.85 was due monthly in respect of the year 2015/2016, of which £2,796.60 remained outstanding at liquidation.
  • PAYE/NIC totalling £25,430.18 was due monthly in respect of the year 2016/2017, all of which remained outstanding at liquidation. Comparative treatment
  • Solutions’ financial statements at 30 September 2015 show HMRC were owed £15,261 and other creditors £48,548 at that date.
  • At the date of liquidation HMRC were owed £84,292.74. Other creditors comprised the Redundancy Payments Office £16,339, Trade and expense creditors £5,733, Employees £3,481. Whilst he has advised he is owed £86,250 and his fellow director £22,000, in undrawn contractual salaries, these claims have not been substantiated.
  • Analysis of Solutions’ business current bank account over the period 01 October 2015 to liquidation shows receipts totalling £274,330.70. Total payments out of the bank account over the period from 01 October 2015 to liquidation on 1 March 2017 amounted to £302,416.19.
  • The last payment in respect of VAT was a payment of £6,461.80 on 13 October 2015, in respect of CT, £1,051.89 on 15 December 2015 and in respect of PAYE/NIC, £1,845.52 on 18 December 2015. 

    This information is correct as at 30 / 10 / 2018


    Name: KEVIN DOWNTON

    Name: SLM CREDIT SOLUTIONS LIMITED

    Date of Birth: 4 / 1 / 1963

    Date Order Starts: 22 / 11 / 2018

    Disqualification Length: 3 Years 6 Month(s)

    CRO Number: 07733566

    Last Known Address: 25 RUBENS GATE, , CHELMSFORD, , , CM1 6GW

    Conduct: Kevin John Downton (“Mr Downton”) caused or allowed SLM Credit Solutions Limited (“Solutions”) to trade to the detriment of HM Revenue & Customs (“HMRC”) from at least October 2015 to liquidation on 1 March 2017, in that:

  • Solutions commenced trading in 2011 and was placed into liquidation on 01 March 2017. Corporation Tax (“CT”)
  • CT of £5,209.20 was due in respect of the year ended 30 September 2014, by 01 June 2015. However, by the date of liquidation, only £2,103.78 had been paid in respect of this, £3,105.42 remaining outstanding.
  • No CT return had been filed in respect of the year ended 30 September 2015. VAT
  • VAT of £8,692.90 due for the quarter ended 30 November 2015 should have been paid no later than 07 January 2016, but remained outstanding at liquidation.
  • VAT returns together with any payment due thereon should have been filed and paid in respect of the quarters ended February 2016, May 2016, August 2016 and November 2016 by the date of liquidation. However no returns or payments were made, resulting in HMRC raising an assessment for the period 01 December 2015 to liquidation totalling £43,895.00. PAYE/NIC
  • PAYE/NIC totalling £20,595.85 was due monthly in respect of the year 2015/2016, of which £2,796.60 remained outstanding at liquidation.
  • PAYE/NIC totalling £25,430.18 was due monthly in respect of the year 2016/2017, all of which remained outstanding at liquidation. Comparative treatment
  • Solutions’ financial statements at 30 September 2015 show HMRC was owed £15,261 and other creditors £48,548 at that date. At the date of liquidation HMRC were owed £84,292.74. Other creditors comprised the Redundancy Payments Office £16,339, Trade and expense creditors £5,733, Employees £3,481. Whilst his fellow director has advised he is owed £86,250 and Mr Downton £22,000, in undrawn contractual salaries, these claims have not been substantiated.
  • Analysis of Solutions’ business current bank account over the period 01 October 2015 to liquidation shows receipts totalling £274,330.70. Total payments out of the bank account over the period from 01 October 2015 to liquidation on 1 March 2017 amounted to £302,416.19.
  • The last payment in respect of VAT was a payment of £6,461.80 on 13 October 2015, in respect of CT, £1,051.89 on 15 December 2015 and in respect of PAYE/NIC, £1,845.52 on 18 December 2015. 

    This information is correct as at 1 / 11 / 2018



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