Company director banned for dodging corporation tax bills
Published 19/12/2012 | 08:00
The head of a stock counting firm who dodged over £25,000 in corporation tax bills has been banned from being a company director for seven years.
Co Down man Gareth Peter James was disqualified in the High Court over his conduct as a director of Belfast business, Vincent James Limited.
The 59-year-old director, from Newtownards Road, Greyabbey, accepted the action brought by the Department of Enterprise, Trade and Investment which followed the liquidation of the firm in March 2010 with losses worth £101,001.
The company carried out stock counting primarily for pharmacies in Northern Ireland from 10a Botanic Avenue.
The matters of unfit conduct concerned the director's failure to pay £68,762 in tax, national insurance and VAT during the period 2006 to 2010.
James further failed to pay £25,883 in corporation tax from 2005 to 2007; to file tax returns or pay tax from 2007 to 2009 and to maintain accounting records and to prepare and file annual accounts on three occasions during the period from 2005 to 2010.
DETI said it had accepted 50 disqualification undertakings and the court has made 21 orders disqualifying directors in the financial year starting April this year.
It describes disqualification proceedings as a sanction "against those directors of failed companies who have abused the privilege of limited liability status through negligence, incompetence or lack of commercial probity".