Case details for Seied Ali FAKORI

Name: Seied Ali FAKORI

Name: Khorasan Limited

Date of Birth: 7 / 10 / 1967

Date Order Starts: 11 / 8 / 2021

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 09717316

Last Known Address: 16, Thorntons Farm Avenue, , , Romford, RM7 0TU

Conduct: From 01 January 2018 (the date of his appointment as director of Khorasan Limited (“KL”) to the VAT period ended 12/18 Seied Ali Fakori (“Mr Fakori”) failed to ensure that KL declared its true Value Added Tax (“VAT”) liabilities on the VAT returns submitted to HM Revenue and Customs (“HMRC”). Following an investigation by HMRC, it was determined that KL had deliberately underdeclared its VAT liabilities, as a result HMRC raised additional VAT, Corporation Tax (“CT”) and Pay As You Earn/National Insurance Contributions (“PAYE/NIC”) liabilities and penalties that remain unpaid. At liquidation HMRC are owed at least £1,097,029 (includes interest) of which at least £559,133 (excludes interest) is in respect of the period of Mr Fakori’s directorship. VAT • Inaccurate VAT returns were submitted to HMRC for five consecutive VAT periods ended: 12/17, 03/18, 06/18, 09/18 and 12/18 disclosing VAT liabilities totalling £47,875. HMRC applied a surcharge of £30 to the VAT period ended 09/18. Payments totalling £47,791 were made against the VAT returns. At liquidation £84 (includes surcharge liability of £30), remained outstanding; • Following HMRC’s investigation, HMRC determined that KL had deliberately under declared sales and had therefore deliberately under declared VAT for five consecutive VAT periods ended: 12/17,03/18, 06/18, 09/18 and 12/18; • On 10/09/2019 HMRC issued an Officer’s Assessment for additional VAT liabilities for the five consecutive VAT periods ended: 12/17, 03/18, 06/18, 09/18 and 12/18 totalling £146,510. In addition HMRC applied Civil Penalties totalling £146,510. These amounts remain unpaid; CT • KL submitted an inaccurate CT return to HMRC on 20 April 2018 for the tax period 01/09/2016 to 31/08/2017 disclosing CT liabilities totalling £79. At liquidation no amount remained outstanding in respect of the CT return; • Following HMRC’s investigations and as a result of the under declared sales HMRC raised additional CT liabilities for Potential Lost Revenue for the tax period 01/09/2016 to 31/08/2017 of £75,412. In addition HMRC applied an Inaccuracy Penalty of £52,788. These amounts remain unpaid; PAYE/NIC • KL submitted inaccurate RTI returns to HMRC from the tax month ended 06/02/2018 to the tax month ended 05/04/2019 disclosing PAYE/NIC liabilities totalling £9,321. At liquidation £1,888 remained unpaid; • Following HMRC’s investigations and as a result of the under declared sales HMRC raised Regulation 80 Determinations for additional PAYE/NIC liabilities for these periods totalling at least £117,454 which remain unpaid; • At liquidation the total amount due to creditors is £1,105,427 of this amount at least £1,097,029 (includes interest of £19,523) is owed to HMRC of which at least £559,133 (excludes interest is in respect of the period of Mr Fakori’s directorship. 

This information is correct as at 22 / 7 / 2021



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