Case details for Craig PLESTED

Name: Craig PLESTED


Date of Birth: / /

Date Order Starts: 12 / 4 / 2019

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 08183827

Last Known Address: 5 SEATON CLOSE, , , , WOLVERHAMPTON, WV11 3SX

Conduct: Craig Plested caused Future Trak Installations Limited (“FTI”) to trade to the detriment of HM Revenue & Customs (“HMRC”) in respect of VAT from 08 July 2016 (the date payment would have fallen overdue for the quarter ending 05/16) and in respect of PAYE from 23 May 2016 (when payment would have fallen overdue for the 05 May 2016 return), until the date of liquidation on 04 May 2018. VAT

  • FTI registered for the purposes of VAT on 01 January 2013;
  • FTI submitted VAT returns for the quarters ending 05/16, 02/17 (covering three quarters), 05/17, 08/17 and 11/17 totalling £223,728. Payments totalling £54,269 were made against the quarter ending 05/16, leaving £6,938 outstanding. No further payments were made against VAT returns leaving a total of £169,459 outstanding at liquidation;
  • In the absence of a return for the quarter ending 02/18, HMRC raised an assessment for £4,938. FTI made no payment against the assessment and the full amount remained outstanding as at liquidation.
  • FTI’s outstanding VAT liabilities that fell due for payment prior to the liquidation totalled £174,397. HMRC’s Claim in the liquidation in respect of VAT liabilities totalled £177,807; PAYE
  • FTI submitted PAYE/ NIC monthly Real Time Information Returns (“RTI”) to HMRC for sixteen consecutive months from the month ending January 2017 to month ending April 2018, which disclosed liabilities totalling £150,713. FTI paid £43,590 against these liabilities leaving £107,123 outstanding at the date of liquidation;
  • As a result of late payments, HMRC added on late payment penalties amounting to £2,240 and interest of £786 leaving a total amount outstanding of £110,149
  • At the date of liquidation, FTI’s outstanding PAYE/NIC liabilities totalled £110,149; Differential Treatment A comparison of creditor positions has been conducted from the draft prepared accounts for the year ended 31 August 2016 and the position as at the date of liquidation. The comparison shows that FTI’s liabilities to HMRC in respect of VAT increased by £26,426, from £151,381 to £177,807 and liabilities for PAYE/NIC increased by £65,433, from £44,716 to £110,149. In the same period trade and expense creditors decreased by £51,592, from £66,743 to £15,776. 

    This information is correct as at 26 / 3 / 2019

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