Case details for Nikolas Koutsoftas

Name: Nikolas Koutsoftas

Name: BODY & SERVICES PB LIMITED

Date of Birth: 19 / 7 / 1975

Date Order Starts: 10 / 4 / 2020

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 09209178

Last Known Address: 2 Borden Avenue, , , , ENFIELD, EN1 2BZ

Conduct: Nikolas Koutsoftas caused Body & Services PB Limited (“BODY”) to trade to the Detriment of HMRC in respect of VAT from 08 September 2016, in respect of PAYE/CIS from 23 August 2016 and in respect of Corporation Tax from 02 July 2016. At Liquidation on 24 April 2018 HMRC had claims totalling £126,746, in that: VAT • As at 16 September 2016 there was £6,253 outstanding in respect of VAT based on assessments raised for the April 2016 and July 2016 quarters as BODY had not submitted VAT returns. • Thereafter payments of £3,773 were made against those arrears, resulting in the April 2016 VAT period being paid in full. No payments were made in respect of VAT due for the quarters October 2016 to January 2018. • Returns were submitted late for the quarters April 2016 to October 2017 but no return was submitted for the quarter ended January 2018. • HMRC submitted a claim of £43,613 in respect of VAT with amounts outstanding at liquidation for seven different quarters from the quarter ended July 2016 to the quarter ended January 2018. PAYE and CIS • As at 23 August 2016 there was £4,916 outstanding in respect of PAYE, thereafter in the period of trading to Liquidation on 24 April 2018 HMRC’s claim in respect of PAYE increased to £76,626. During the period one payment of £920 was allocated by HMRC in respect of PAYE. Corporation Tax • At 02 July 2016 there was £574 outstanding in respect of Corporation Tax being the full sum due for the year ended 31 September 2015. Thereafter the company failed to make any payments against that Corporation Tax or the amount of £648 due for the period ended 31 December 2016. • At Liquidation HMRC had a claim of £1,222 in respect of Corporation Tax. Comparison to other creditors • At Liquidation HMRC had claims totalling £126,746, other creditors totalled £31,150. • Bank statements show that during the period of trading from 05 October 2016 the Shareholders of BODY received net payments of £225,928 from bank receipts totalling £982,087. In the same period HMRC received payments totalling £4,693. Between 28 February 2018 and 06 April 2018 Nikolas Koutsoftas allowed Body to make net payments of at least £57,734 to the shareholders of the company, which were to the detriment of creditors and at a time when Mr Koutsoftas knew or should have known that the company was insolvent, in that: - As at 28 February 2018 there was £109,663 owing to HMRC and the company had not being paying its debts in full as they fell due since 23 August 2016 in respect of PAYE and since 8 September 2016 in respect of VAT. The last payment of VAT was on 20 September 2017 and the last payment of PAYE was on 11 August 2016. - By 28 February 2018 there was a balance of £54,392 in the company bank account as a result of credits of £54,355 made into the account on the same day. - On 28 February 2018 payments of £45,000 were made to the shareholders of the company including a payment of £43,000 to one shareholder. - In total between 28 February 2018 and 6 April 2018 payments of £57,734 were made to the shareholders of the company, while HMRC were paid nothing in the same period. At the date of liquidation HMRC had claims totalling £126,746 out of total creditors of £157,896 

This information is correct as at 12 / 5 / 2020



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