Director Banned for Assisting £1.65 Million Tax Fraud - Gilbert Tax

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Director Banned for Assisting £1.65 Million Tax Fraud

The director of an accountancy firm has been disqualified from running companies for 12 years after being found guilty of assisting a client in defrauding creditors of over £1.65 million. The Hammersmith based accountancy firm entered into creditors voluntary liquidation itself in August 2017. Prior to that one of their clients was a company that ran pubs which went into liquidation in December 2011.

Before entering liquidation, the company had siphoned off more than £1.65 million via the accountancy firm's client account. In October 2016 the High Court ruled in favour of the liquidator parties. Their verdict was that the accountancy firm were fully aware of what was taking place, had full knowledge of the reputation of their client and had "no consideration on the pretext that they would pay creditors who were never, in fact, paid".

Whilst the accountancy firm director received a 12-year ban from running companies, the two owners of the pub management company also received bans of 8 years and 5 years. The Chief Investigator from the insolvency service stated that "accountants and other advisers should be wary of allowing their firms to be utilised in this way, enabling clients to pass funds through their accounts".

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