Name: Nikolay Hristov Nikolov

Name: BLACK SEA LTD

Date of Birth: 18 / 9 / 1982

Date Order Starts: 25 / 6 / 2025

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 11005143

Last Known Address: 14 Maybridge Crescent,, , , , Goring-by-Sea, WORTHING,, BN12 6HQ

Conduct: From at least 12 December 2020 to 30 September 2021, Nikolay Hristov Nikolov (‘’Mr Nikolov’’) caused Black Sea Ltd (‘’BSL’’) to make 17 claims under the Coronavirus Job Retention Scheme (CJRS) and has failed to evidence those claims were valid to HMRC. As a result, HMRC raised an assessment and claimed back the CJRS from Black Sea and issued penalties totalling £57,147. In that: • The Coronavirus Job Retention Scheme applied from 1 March 2020 and concluded on 30 September 2021. The scheme provided grants to employers so they could retain and continue to pay staff during coronavirus related lockdowns, by furloughing employees at up to 80% of their wages. • The CJRS conditions stated that ‘HMRC will check claims, and payments may be withheld or need to be paid back if a claim is found to be fraudulent or based on incorrect information.’ • BSL applied for the CJRS scheme on behalf of BSL, with £50,606.28 being received • Between 03 June 2020 and 06 October 2021 BSL received 17 payments of CJRS totalling £50,606.28. • On 12 November 2021 HMRC informed BSL that a compliance check would be undertaken on BSL’s CJRS claim and requested information pertaining to the employees for whom BSL had received grant payments for. No information was provided by BSL. • On 28 January 2022, HMRC issued a Notice of Information under Paragraph 1 of Schedule 36 to the Finance Act 2008., which legally required BSL to provide information. No Information was provided by the BSL to HMRC. • HMRC made further requests for information on 23 March 2022 and 26 April 2022, BSL failed to provide the information requested. • On 14 July 2022 BSL’s claims for CJRS were disallowed and consequently, an assessment was raised by HMRC totalling £57,147 • On 20 October 2022, after the assessment was raised, BSL requested further time to respond to HMRC. The request was denied by HMRC. • At liquidation BSL had HMRC liabilities of £56,101.67 in relation to CJRC. 

This information is correct as at 9 / 6 / 2025

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