Case details for Kuldip Singh Malhotra

Name: Kuldip Singh Malhotra


Date of Birth: 7 / 9 / 1971

Date Order Starts: 23 / 3 / 2022

Disqualification Length: 4 Years 0 Month(s)

CRO Number: 08373382

Last Known Address: Westbrook Keep,, Bedmond Road,, Abbots, , Langley,, WD5 0EQ

Conduct: Kuldip Singh Malhotra (Mr Malhotra) failed to ensure that V&A I-Solutions UK Limited (V&A) 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 Her Majesties Revenue and Customs (HMRC) as and when they became due from at least 2 November 2017 in respect of CT and from at least 8 January 2019 in respect of VAT in that: CT V&A submitted returns for periods 01 February 2016 to 31 January 2018 totalling £30,564, with payment due for the return to 31 January 2017 by 1 November 2017. V&A made one payment of £500 towards CT on 08 July 2019. At liquidation, £34,345 remained outstanding in respect of CT liabilities including £1,300 in penalties and £2,980 in interest. V&A failed to submit returns for periods 01 February 2018 to 5 February 2021 (date of cessation of trading) and no assessments were raised. VAT V&A submitted returns for quarters ended September 2018 to June 2020 detailing liabilities totalling £34,688. In the absence of returns assessments were raised for quarters ended September 2020 to 5 February 2021 (the date of cessation of trade) totalling £10,169. V&A made payments in respect of VAT between September 2018 and 14 May 2021 totalling £9,611 VAT of at least £39,024 remained outstanding at liquidation, including £5,643 in surcharges and interest. V&A received income totalling £525,199 between 2 November 2017 and 13 May 2021 and had outgoings totalling £533,312 of which £32,484 was paid to HMRC, £7,756 paid to V&A’s accountant and the remaining £493,072 was utilised for Mr Malhotra’s benefit including £8,386 ATM withdrawals, £81,443 debit card transactions to various retailers and £281,731 in funds transfers to Mr Malhotra and his family. 

This information is correct as at 2 / 3 / 2022

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