Case details for Timothy SIMSPON

Name: Timothy SIMSPON

Name: Forward Trak Limited

Date of Birth: 16 / 9 / 1974

Date Order Starts: 8 / 6 / 2019

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 08703609

Last Known Address: 122 Hubert Road, , , , Rainham, RM13 8AH

Conduct: Timothy Joseph Simpson (“Mr Simpson”) caused Forward Trak Ltd (“FTL”) to trade to the detriment of HM Revenue and Customs (“HMRC”) in respect of its VAT liabilities from 08 May 2015 (when the VAT liabilities for VAT period ending 03/15 fell overdue for payment to HMRC) until FTL entered into liquidation on 29 January 2018. VAT

  • FTL submitted VAT returns for twelve consecutive VAT quarters ended 03/15, 06/15, 09/15, 12/15, 03/16, 06/16, 09/16, 12/16, 03/17, 06/17, 09/17 and 12/17 disclosing VAT liabilities totalling £116,078 and HMRC applied surcharges £15,018.
  • FTL made no payments to HMRC in respect of the VAT liabilities and the full amount of £131,096 remained outstanding at the date of liquidation.
  • HMRC have submitted a proof of debt in the liquidation for VAT totalling £133,641 of which £133,096 fell due for payment to HMRC prior to the date of liquidation; Differential Treatment
  • FTL’s accounts for the year ended 31 March 2016 shows liabilities to trade creditors of £1,625, amounts due to associated companies of £14,894, and liabilities to HMRC in respect of VAT £42,130.
  • By the date of liquidation liabilities to trade creditors increased by £3,375 from £1,625 to £5,000, liabilities to associated companies decreased by £14,894 to nil. Whilst over the same period the debt to HMRC in respect of VAT increased by £88,966 from £42,130 to £131,096. 

    This information is correct as at 18 / 4 / 2019



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