Case details for Krishna Bussappa

Name: Krishna Bussappa

Name: KABH Solutions Ltd

Date of Birth: 22 / 7 / 1977

Date Order Starts: 8 / 3 / 2022

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 07934671

Last Known Address: 5 George Parish Road,, , , , BANBURY, OX16 0FN

Conduct: Mr Krishna Bussappa (“Mr Bussappa”) failed to ensure that the company met its financial commitments as regards to Corporation Tax (“CT”) and Value Added Tax (“VAT”) and caused the company to continue trading whilst withdrawing funds for the benefit of himself. As a result the company became unable to meet its financial commitments to HMRC as and when they became due and at the latest from 3 November 2013 in respect of CT and 7 December 2013 in respect of VAT. In that: Corporation Tax liability • HMRC have a claim in the Liquidation of £60,951 for unpaid Corporation Tax, penalties and interest which covers the Company’s financial years ended 2 February 2013 to 28 February 2017. Corporation Tax ought to be paid in full within 9 months and 1 day after the end of each accounting period. • The Corporation Tax return for the accounting year ended 2 February 2013 was filed with HMRC on 16 July 2013 and declared a Corporation Tax of £9,060. The interest accrued on the liability was £751. Payments totalling £9,753 were made towards these liabilities between February 2016 and September 2016, leaving an unpaid balance of interest of £58 in the Liquidation. • The Corporation Tax return for the accounting year ended 28 February 2014 was filed with HMRC on 13 May 2016 and declared a Corporation Tax of £15,349. The penalty imposed during the financial year was £3,270. A payment of £529 was made towards the Corporation Tax liability, leaving a total unpaid balance of £18,091 in the Liquidation. • The Corporation Tax return for the accounting year ended 28 February 2015 was filed with HMRC on 20 May 2016 and declared a Corporation Tax of £12,719. The penalty imposed during the financial year was £100. No payment was made towards the liability, leaving the full sum of £12,819 outstanding in the Liquidation. • The Corporation Tax return for the accounting year ended 29 February 2016 was filed with HMRC on 13 July 2016 and declared a Corporation Tax of £29,884. No payment was made towards the liability, leaving the full sum of £29,884 outstanding in the Liquidation. • No return was filed for the financial year ended 28 February 2017 by the filing due date, resulting in a penalty of £100 being imposed for the financial year. No payment was made towards this penalty and it remains outstanding in the Liquidation. Value Added Tax • The VAT return for the period covering 10/13 and 01/15 was filed on 9 March 2015 declaring a VAT liability of £21,180. A partial payment of £3,975 was made towards the liability. A liquidation £17,205 remains outstanding for this tax period. • HMRC have a claim of £51,751 in the Liquidation for an unpaid VAT liability of £49,997 and surcharges of £1,753. The liability covers the VAT quarters ended 01/15 to 14 March 2017. The VAT return and the full payment for the liability for each quarter ought to be received by HMRC within 1 month and 7 days after the end of each tax quarter. • The VAT returns for 7 quarters, for those ended 04/15, 07/15, 10/15, 01/16, 04/16, 07/16 and 10/16 were filed. The returns declared a total liability of £28,623. HMRC raised surcharges totalling £1,753 for the tax quarters ended 01/16, 04/16 and 07/16. No payment was made towards these liabilities. The full sum of £30,377 remains outstanding in the Liquidation. • No further VAT return was filed. HMRC raised an assessment for the final trading period to 14 March 2017 of £4,169. No payment was made towards this liability. The full sum remains outstanding in the Liquidation. Comparative treatment • KABH’s turnover throughout trading totalled at least £444,597, from which Mr Bussappa received income from KABH consisting of salary, dividends and director’s loans in the amount of at least £400,768. The total payment made to HMRC throughout trading was £28,374 (CT: £10,281.24, VAT: £16,306.85, PAYE/NIC: £1,785.62 (excluding Employment Allowance £1,440)). HMRC is the largest creditor in the Liquidation. Throughout trading Mr Bussappa increased his director’s loan from £24,928 at the end of financial year ended 28 February 2013 to £128,208 at the end of trading year ended 31 January 2017. 

This information is correct as at 25 / 2 / 2022



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