Case details for GERARD LONG



Date of Birth: 24 / 4 / 1989

Date Order Starts: 17 / 9 / 2021

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 08950666

Last Known Address: 17 Winterhill Close,, , , , ALLERTON, L18 9AD

Conduct: Gerard Long (“Mr Gerard Long”) failed to ensure Prospect Law Consultancy Limited (‘Prospect’) complied with its statutory obligations to submit all returns and all monies due in respect of Value Added Tax (‘VAT’), Pay As You Earn (‘PAYE’) and Corporation Tax to HM Revenue & Customs (‘HMRC’), and caused Prospect to trade to the detriment of HMRC with effect from 7 May 2016. At the date of liquidation HMRC are owed £336,604 (excluding penalties and interest) in the liquidation, attributable to the non-payment of VAT, PAYE and Corporation Tax: VAT • Prospect did not submit VAT returns on time for the four VAT quarters between 03/16 to 12/16. Prospect did subsequently submit one VAT return for the four quarters, showing a VAT liability of £115,138. • Prospect failed to submit any further VAT returns, and so HMRC have raised assessments for the VAT quarters 03/17 to 12/17 totalling £124,994. • In addition, HMRC raised surcharges totalling £10,298. • Prospect made one payment to HMRC in respect of the VAT returns, assessments or surcharges. HMRC are owed £240,836 in respect of VAT in the liquidation. PAYE • Prospect incurred a PAYE liability for the tax year ending 15/16 of £42,749, which was not paid on time. Prospect cleared the balance in full by February 2017, but HMRC have claimed interest of £593 for late payment. • Prospect incurred PAYE liabilities for the two tax years ending 16/17 and 17/18 totalling £85,816, against which Prospect made payments totalling £12,265. After allowances, HMRC have claimed £71,640 in the liquidation. Corporation Tax • Prospect submitted a Corporation Tax return to HMRC, for the year ending 31/03/2015, which showed a liability of £6,785. Prospect did not clear the balance until May 2017, almost 18 months late. • Prospect submitted one further Corporation Tax Return, for the year ending 31/03/2016, which showed a liability of £23,297. No payment was made by Prospect in respect of the liability, and £23,297 remains outstanding at liquidation, together with interest of £238. Different Treatment of HMRC • The oldest liability to HMRC is for the VAT period ending 03/16, due no later than 7 May 2016. • Bank statements for the period 7 May 2016 to liquidation show sales receipts into the bank account of Prospect of at least £1,313,929. From these receipts, Prospect made payments to HMRC totalling £66,195. • HRMC are owed £336,604 at liquidation, out of total creditors of £510,750. 

This information is correct as at 27 / 8 / 2021

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