Director banned for failing to pay taxes
The boss of a domestic and industrial groundwork company has been banned from running businesses after failing to submit taxes and keep adequate accounting records
7 Feb 2019
George Fry, from Glasgow, was the sole director and shareholder of Connect Pavers Ltd, which was set up in September 2015. Just two years later in October 2017, the company entered into liquidation following a petition at Glasgow Sheriff Court by the tax authorities for an unpaid bill of more than £140,000.
Insolvency practitioners were tasked with winding-up Connect Pavers but Fry failed to ensure the company maintained adequate accounting records and as a result, the company could not deliver any records to the liquidator. He also caused Connect Pavers to pay no taxes throughout the two-years the company was in operation.
Further work by the Insolvency Service found that between 18 May 2016 and 3 November 2016 Fry withdrew £101,100 from the company’s account but because he failed to maintain adequate accounting records, he could not adequately explain whether these transactions were legitimate or not.
Fry has now been disqualified for a period of seven years.
Robert Clarke, chief investigator for the Insolvency Service, said: ‘From day one, George Fry had a responsibility to ensure the company maintained proper accounting records and pay the correct levels of taxes. But he failed on both accounts, amounting to a dereliction of duty.
‘Seven years is a substantial ban, severely restricting George Fry’s activities, and we hope others take heed that we can stop people from running companies if they do not take their directorship duties seriously.’
Report by Pat Sweet