Case details for NICHOLAS JAMES ELLIS READ

Name: NICHOLAS JAMES ELLIS READ

Name: TLR AUTOS LIMITED

Date of Birth: 22 / 2 / 1979

Date Order Starts: 25 / 6 / 2019

Disqualification Length: 3 Years 36 Month(s)

CRO Number: INV5135717

Last Known Address: 2 RIVERSIDE DRIVE, WEEDON, , , NORTHAMPTON, NN7 4RT

Conduct: Solely for the purposes of the CDDA and for any other purposes consequential to the giving of a disqualification undertaking, He does not dispute the following matters: ? He was a director of TLR AUTOS LIMITED ? Which went into Creditors Voluntary Liquidation on 16 January 2017 ? With assets of £10,800 ? Liabilities of £108,906 ? A deficiency as regards creditors of £98,106 ? And share capital of £20 ? Making a total deficiency of £98,126 MATTERS OF UNFITNESS He caused TLR Autos Limited (“TLR”) to trade to the detriment of H M Revenue & Customs (“HMRC”) in respect of Value Added Tax (“VAT”) from at least 31 January 2015 to cessation and in respect of Pay as You Earn (“PAYE”) and National Insurance Contributions (“NIC”) from 22 April 2015 onwards. He also failed to ensure that TLR complied with its statutory obligations to file Value Added Tax (“VAT”) Returns and make payments when due to HM Revenue & Customs (“HMRC”). VAT # The return for the period ended 30 November 2014 should have been submitted with payment no later than 7 January 2015 but I failed to submit this. An assessment of £6,079 was subsequently raised. Of this the sum of £284 remained outstanding at the date of liquidation. # Despite continuing to trade TLR failed to submit any further returns and so HMRC were compelled to raise assessments for the 8 periods ended 28 February 2015 through to the period ended 30 November 2016. These totalled £23,214. In addition, TLR’s failure to submit returns caused the company to incur surcharges totalling £3,119. # In the period from 7 January 2015 onwards, TLR made payments totalling £2,500 to HMRC (all made in January and February 2016) which were part allocated to the VAT quarter ended 30 November 2013 which ought to have been paid in full by 7 January 2014 and part payment of the 11/14 VAT quarter which ought to have been paid in full by 7 January 2015. # At the date of liquidation a total of £26,617 remained outstanding to HMRC in respect of VAT. PAYE/NIC # The liability for the tax year 2014/2015 should have been paid in full by 22 April 2015. Although payments totalling £11,208 were made in respect of that year the sum of £5,069 remained outstanding at the date of liquidation. Page 3 of 3 # The company made payments totalling £12,627 in respect of the tax years 2015/2016 and 2016/2017 leaving a total liability of £27,992, which when added to the £5,069 outstanding from year 2014/2015 totalled £33,061 which remained outstanding at the date of liquidation. Different treatment # The accounts for the period ended 31 January 2015 show liabilities to HMRC of £21,378 and liabilities to other creditors including Trade & expense of £64,073. # At the date of liquidation liabilities to HMRC had increased by £38,342 to £59,720, whilst liabilities to other creditors including Trade & Expense had decreased by £51,287 to £12,786. # Total liabilities to creditors at liquidation were £108,906 of which HMRC liabilities were £59,720. Of the remainder, £36,400 is shown as being due in respect of “Directors Loans” – described as unpaid salary. 

This information is correct as at 6 / 6 / 2019



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