Anthony Hodges, an IT consultant, signed a disqualification undertaking preventing him from acting as a company director for 8 years.
Mr Hodges was the sole director of Hodges & Coley Ltd.
The Insolvency Service?s investigation found Mr Hodges failed to ensure Hodges & Coley Ltd paid its tax liabilities from January 2011 until January 2014, when the company went into liquidation. This resulted in a liability to HM Revenue and Customs (HMRC) of ?191,136 at the date of liquidation. In that period Mr Hodges paid ?3,100 to HMRC and at least ?423,024 to himself and his family. The total deficiency to creditors at the date of liquidation was ?223,424.
Of the ?423,024 paid to Mr Hodges and his family, ?41,471 was paid on or after 23 October 2013 at a time when H&C was insolvent and Mr Hodges had informed his accountant of his intention to liquidate the company.
The disqualification, which follows an investigation by the Insolvency Service, means that Mr Hodges cannot control or manage a limited company without leave of the court.
Robert Clarke, Head of Insolvent Investigations North at the Insolvency Service, said:
Company directors have a duty to ensure businesses meet their legal obligations, including paying taxes and must not benefit themselves at the expense of creditors. Neglect of tax affairs is not a victimless action as it deprives the taxpayer of the funds needed to operate public services.
The Insolvency Service will take action against directors who do not take their obligations seriously and abuse their position.