Name: Sunil Verdi

Name: RV5 LTD

Date of Birth: / /

Date Order Starts: 31 / 1 / 2024

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 10649046

Last Known Address: 69 Beaumont Drive, Northfleet, , , GRAVESEND, DA11 9NN

Conduct: Mr Sunil Verdi (hereinafter referred to “Mr Verdi”) caused RV5 Limited (hereinafter referred to “RV5” or the “company”) to trade to the detriment of HM Revenue & Customs (hereinafter referred to “HMRC”) from 22 August 2020 in respect to PAYE & CIS taxes and from 01 January 2021 in respect to Corporation Tax, in that: PAYE & CIS Tax The PAYE & CIS taxes for year 2020/21 had a credit balance of £1,135 at the end of month 3. Returns were submitted for the remainder of the year totalling £234,926 against which payments totalling £41,551 were made leaving £193,375 unpaid. By the end of the year 2020/21 the PAYE & CIS liability had risen by £193,735. According to returns submitted the PAYE & CIS tax due for year 2021/22 up until Mr Verdi’s resignation on 27 September 2021 totalled £122,426 against which £10,000 was paid. By the date of Mr Verdi’s resignation the PAYE & CIS liability had increased by £305,801. Corporation Tax For the accounting period from 01 April 2019 to 31 March 2020 the submitted return shows taxable profits of £162,513 and the Corporation Tax due at £30,877. Payment was due by 01 January 2021 but was not received. For the accounting period from 01 April 2020 to 30 September 2020 the submitted return shows taxable profits at £76,440 and the Corporation Tax due at £14,524. Payment was due by 01 July 2021 but was not received. The outstanding liability in respect to Corporation Tax totals £45,401. Comparative Treatment From 01 October 2020 to the date of Mr Verdi’s resignation on 27 September 2021 the company’s income was £2,538,008 of which only £40,312 was paid to HMRC in respect of PAYE/CIS and CT meaning £2,249,396 was expended on all other categories of creditors. During his appointment until his resignation on 27 September 2021 from RV5, Mr Verdi has caused at least £351,202 of the increase in HMRC’s liability in respect PAYE & CIS taxes and Corporation Tax The total liabilities in the liquidation are £800,834 of which HMRC are the largest creditor for at least £747,834. 

This information is correct as at 11 / 1 / 2024

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