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Surveyor boss banned for five years 18 July 2013

A director who paid himself and his wife, neglecting to pay company taxes or file company returns on time, has been disqualified from acting as a company director for five years.

Nicholas Procter, director of Procters Surveys & Valuations (PSV) Limited, was banned following an investigation by The Insolvency Service.

Vicky Bagnall, director of investigation and enforcement services at The Insolvency Service, said: “Failure to pay taxes deprives the taxpayer of the funds needed to operate public services.

“It was a clear attempt to avoid personal liabilities which would have been payable to the creditors of the company – in this case HM Revenue & Customs.

“It is not acceptable to disregard tax liabilities and attempt to avoid personal liabilities in this way and The Insolvency Service will take robust action against those who do so.”

On 5 July 2011, Procter instructed an undisclosed insolvency practitioner to put PSV into liquidation, but on 21 July 2011 paid himself and his wife inflated wages of £44,000 to match amounts they owed to the company.

At the time, PVS owed HM Revenue & Customs (HMRC) approximately £54,414, dating back to 1 May 2009 for VAT and 1 June 2010 for corporation tax.

Procter’s additional wage payments increased the amount owed to HMRC by a further £33,071 which also went unpaid.

He had previously paid both himself and his wife £142,720 between 1 May 2009 and 31 March 2011.

PSV went into liquidation on 22 July 2011, with a deficiency to creditors of £106,940.

 

 

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