Ban for payroll company director over unaccounted £2.7m
13 Oct 2020
The director of a payroll services company has been disqualified after failing to explain the true nature of £2.7m of payments made over a two-month period
13 Oct 2020
Jonas Stankevicius, from Doncaster, was appointed the sole director of S Jonas Solutions Ltd in July 2018, at the same time the payroll services company was incorporated.
However, only a few months later entered the company entered into creditors voluntary liquidation in December 2018.
The payroll company’s liquidation and the length of trading resulted in an Insolvency Service investigation into a series of contentious payments.
Investigators uncovered that Stankevicius failed to ensure the payroll company maintained and/or preserved adequate accounting records. This meant that neither the liquidators nor investigators could verify the legitimacy of £2.73m of payments made from its bank account between August and October 2018.
The failure to maintain proper records also meant that it has not been able to determine the true amount of tax liabilities owed by S Jonas Solutions after the tax authorities claimed just over £500,000 in the liquidation.
Stankevicius has now accept an eight-year disqualification undertaking.
Mark Bruce, chief investigator for the Insolvency Service, said: ‘All directors have a statutory requirement to maintain company accounting records.
Jonas Stankevicius, however, completely disregarded his responsibilities and as a direct consequence of his actions, he couldn’t explain the legitimacy of £2.7m of payments paid out of the payroll company’s accounts over just two months.
‘But his misconduct has caught up with him and Jonas Stankevicius has been banned for eight years, which should serve as a warning to other rogue directors that your misconduct could see you being removed from the business environment for a substantial amount of time.’