Case details for STEPHEN PAUL BUSHELL

Name: STEPHEN PAUL BUSHELL

Name: NFT CONSULTING LIMITED

Date of Birth: 27 / 7 / 1952

Date Order Starts: 12 / 5 / 2019

Disqualification Length: 3 Years 0 Month(s)

CRO Number: 08404477

Last Known Address: 4, Loddon Road, , , Ditchingham, NR35 2QY

Conduct: Stephen Paul Bushell caused NFT Consulting Ltd (“NFTC”) to trade to the detriment of HM Revenue and Customs (“HMRC”) from at least 01 December 2015 (when the Corporation Tax liability for the financial year ending 28 February 2015 fell overdue), and from 08 December 2015 (when the VAT liability for the VAT quarter ending 10/15 fell overdue), to 07 February 2018 (the date of Liquidation), in that: Corporation Tax

  • NFTC prepared financial year end accounts and submitted Corporation Tax Returns (“CT”) to HMRC for the financial years ending 28 February 2015 and 29 February 2016 that disclosed CT liabilities of £9,335.20 and £12,229.60, respectively, resulting in total CT liabilities of £21,564.80p being accumulated in the two respective accounting periods;
  • Between 11 March 2016 and 19 July 2017, NFTC made three payments totalling £1,350 against its CT liability for the financial year ending 28 February 2015. NFTC failed to make any additional payments against its CT liabilities;
  • NFTC’s outstanding and overdue Corporation Tax liabilities at the date of Liquidation totalled £20,650; VAT
  • NFTC registered for VAT on 15 February 2013;
  • NFTC submitted eight VAT returns for the quarters ending 10/15, 01/16, 04/16, 07/16, 10/16, 01/17, 04/17 and 07/17 that disclosed total VAT liabilities of £30,298 (including surcharges, penalties and interest). Between 26 April 2016 and 12 July 2017 NFTC made total payments of £11,078 against these VAT liabilities. NFTC made no additional payments against its VAT liabilities;
  • HMRC subsequently raised a VAT assessment for the VAT quarter ending 10/17 for a sum of £5,442 (inclusive of surcharges) which remained outstanding at Liquidation;
  • NFTC’s outstanding and overdue VAT liabilities at Liquidation totalled £24,661; DIFFERENT TREATMENT
  • NFTC’s total liabilities at Liquidation were £53,644, of which £51,494 related to liabilities due to HMRC, of which £45,311 was overdue for settlement. All other creditors were owed a total of £2,150;
  • NFT’s financial year end accounts for the period to 28 February 2015 disclosed total creditor liabilities of £20,928. The creditors were composed of HMRC, who were owed £15,608; all other creditors were owed £5,320. At the date of Liquidation, HMRC liabilities had increased by £29,703, to £45,311. In contrast all other creditors reduced by £3,170, to £2,150. 

    This information is correct as at 22 / 5 / 2019



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