Legal News
Director disqualified after submitting incorrect tax returns (29 October 2015)
Date: 29/10/2015
The director of a company which sold and repaired musical instruments has been disqualified from holding a directorship for seven years, after an investigation by the Insolvency Service found that he had submitted incorrect Corporation Tax returns.
The company was incorporated on 1 November 2004 and began to trade from its premises at Moulton Park Business Centre, Redhouse Road in Northampton, selling and repairing musical instruments which were primarily brass.
However, the director of First Brass Limited, 50-year-old Shawn Pagington from Northampton was found to have submitted incorrect Corporation Tax returns for First Brass Limited between 2007 and 2011.
Following a HMRC review, investigators discovered an under-declaration of at least £69,668 in taxes due, including penalties and interest.
On 29 September 2013, Mr Pagington signed a Director Disqualification Undertaking, banning him from being a director of a company for a period of seven years. The period of disqualification will commence from 20 October 2013.
First Brass Limited entered into liquidation on 7 November 2013, with debts of more than £99,700.
Chief Investigator at Insolvent Investigations, Midlands and West, Sue MacLeod, said:
“Directors who fail to make accurate tax returns – depriving HMRC from receiving money due – will be investigated and, if appropriate, disqualification action will be taken.”
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