Case details for Andrew Visvanathan

Name: Andrew Visvanathan

Name: VIDA REC LTD

Date of Birth: / /

Date Order Starts: 13 / 4 / 2020

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 07681374

Last Known Address: 71 Levens Drive,, , , , POULTON-LE-FYLDE, FY6 8EZ

Conduct: Andrew Visvanathan (“Mr Visvanathan”) caused or allowed Vida Rec Limited (“Vida”) to trade to the detriment of HM Revenue and Customs (“HMRC”) in respect of VAT from at least 07 November 2016 (the due date for payment of the VAT quarter ending September 2016) and PAYE from at least 22 November 2017 ( the due date for payment of the monthly October 2017 return) to 08 June 2018, the date of Administration, resulting in liabilities of £109,945 for VAT and £56,160 for PAYE in that; VAT • HMRC’s ledgers record that Vida owed £14,404 in respect of VAT as at the quarter ending September 2016 increasing to £109,945 at cessation of trade. • In the period from the quarter ending September 2016, Vida made nine payments to HMRC totalling £28,488. The payments were made in the period 07 December 2016 to 19 December 2017. • A time to pay agreement (“TTP”) was arranged in December 2017 which required Vida to pay five monthly payments of £7,690 and a final payment of £10,230. Only the first payment was made and HMRC cancelled the TTP on January 2018. • A further TTP was arranged in June 2017 which combined the VAT and PAYE debt but this TTP was cancelled in August 2017 as only the first two payments were made. PAYE • HMRC’s ledger’s record that Vida submitted monthly returns until cessation of trade in June 2018 and that a sum of £56,160 was owed at cessation of trade. • In the period from the month end October 2017 return, Vida made no payments to HMRC for the outstanding liability. Vida made its last payment to HMRC for PAYE and NIC on 31 October 2017 for a sum of £2,185. No further payments were made. • Three TTP agreements were arranged to repay the outstanding PAYE in March 2016, June 2016 and June 2017, all of which failed as Vida failed to keep up to date with ongoing liabilities. • A further TTP was arranged in June 2017 which combined the VAT and PAYE debt but this TTP was cancelled in August 2017 as only the first two payments were made. Detriment • In the period 31 May 2017 to 28 June 2018, Vida’s bank statements show £1,116,668 was paid from Vida’s bank account. HMRC received monies totalling £53,157 of which £7,690 related to the outstanding VAT liability, and £24,670 the PAYE liability, the remaining sums related to outstanding Corporation Tax liabilities. • The bank statements show that monies were being paid to other creditors including trade creditors and the directors. Of those payments, Mr Visvanathan received a net sum of £109,979 and his co-director received a net sum of £37,959. Two creditors received payments totalling £458,508 (a payroll specialist) and £14,408 (a business support company) in this same period. 

This information is correct as at 12 / 5 / 2020



If you believe this page contains any errors, please email civil.proceedings.team@insolvency.gov.uk with details of the error that you have found.