Case details for ARNOTT SINCLAIR



Date of Birth: 12 / 12 / 1964

Date Order Starts: 6 / 11 / 2018

Disqualification Length: 5 Years 0 Month(s)

CRO Number: SC427791

Last Known Address: 56 MYRUS CIRCLE, , , , MACDUFF, AB44 1QH

Conduct: Arnott Sinclair failed to ensure that CTS Lifting Services Limited (“CTSLS”) met its financial commitments as regards Value Added Tax (“VAT”) and Corporation Tax (“CT”) and caused CTSLS to continue trading whilst withdrawing funds for his own benefit. As a result CTSLS became unable to meet its financial commitments to HMRC, at the latest, from December 2012 in that:

  • Between 05 December 2012 and 27 June 2016 CTSLS submitted VAT returns for quarters October 2012, August 2013, November 2013, February 2014 and May 2014 disclosing a liability of £14,794 against which CTSLS made no payments;
  • Between VAT quarters August 2014 and February 2017 CTSLS failed to prepare and submit VAT returns resulting in HMRC issuing assessments totalling £24,166 against which CTSLS made no payments;
  • In the financial year ending 31 March 2013 CTSLS submitted a Corporation Tax (CT) return disclosing a liability of £7,889. Despite the CT liability being due and payable by 1 December 2014 the liability remained wholly unpaid at liquidation;
  • In the absence of CTSLS submitting CT returns for financial years 31 March 2014, 31 March 2015 and 31 March 2016 HMRC issued penalty notices totalling £900 which remained wholly unpaid at liquidation;
  • At liquidation HMRC, CTSLS only creditor, is owed £47,749 which occurred as a result of the drawings Arnott Sinclair received leaving insufficient reserves remaining in CTSLS bank account, throughout the entire trading period, to meet payment of the liability owed to HMRC. In the period 01 April 2013 to 20 March 2017 the bank account of CTSLS received receipts totalling £284,182 from which Arnott Sinclair received £277,604 and trade creditors received £6,698. In comparison HMRC received no payments; He exacerbated the position by failing to ensure CTSLS complied with it statutory obligation to (a) file annual accounts and CT returns for 3 consecutive financial years between 31 March 2014 and 31 March 2016 and (b) file VAT returns from August 2014 onwards which had the effect of concealing CTSLS financial position and the true level of liability owed to HMRC. 

    This information is correct as at 19 / 10 / 2018

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