Name: David Alexander Smith

Name: FB REALISATIONS LTD (FORMERLY BALGOWNIE LIMITED)

Date of Birth: 17 / 5 / 1964

Date Order Starts: 21 / 7 / 2025

Disqualification Length: 11 Years 0 Month(s)

CRO Number: SC053574

Last Known Address: Airyhillock, Kirkton of Bourtie, , , INVERURIE, AB51 0JS

Conduct: Between 31 January 2019 and 05 May 2022, David Alexander Smith (“Mr Smith”) caused FB REALISATIONS LTD (FORMERLY BALGOWNIE LIMITED) to submit false VAT returns to HM Revenue & Customs (“HMRC”) by failing to disclose full details of Balgownie’s input and output tax and to account fully for VAT, resulting in an undeclared VAT liability of £1,575,584 in that: • Mr Smith falsely claimed input tax in respect of expenditure that was made wholly for private or non-business purposes in the quarter ended 12/2018. • Mr Smith declared incorrect output tax in respect of the sales made in the quarters ended 03/2019, 09/2019 12/2019 and 09/2020 to 03/2022. • Mr Smith made errors in the second-hand goods scheme and did not account for the VAT correctly • Mr Smith falsely claimed input tax against an earlier tax point in respect of purchases without the valid evidence to support this. • On 17 March 2023, Mr Smith made a signed a Contractual Disclosure Facility contract with HMRC in which he admitted that the suppression of VAT had been deliberate • HMRC raised assessments totalling £1,575,584 for the periods ending 12/2018, 03/2019, 09/2019 12/2019 and 09/2020 to 03/2022 for the under declaration of VAT. • At administration, HMRC claimed £1,631,928 in respect of outstanding VAT. 

This information is correct as at 30 / 6 / 2025

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