Tax offences land engineering boss 11-year ban
2 Oct 2019
The director of an engineering firm has been banned for 11 years for failing to pay £200,000 in tax owing while withdrawing £1.2m from the company for himself
2 Oct 2019
Abraham Briscoe from South London was the sole director of Three Points Engineering Limited (3PE). The company was incorporated in June 2011 and provided heating, air conditioning and gas engineering services in London and the southeast.
Enquiries by HMRC and the Insolvency Service discovered Briscoe had regularly caused 3PE to declare incorrect levels of tax liabilities due.
Over three years, between July 2011 and June 2014, he deliberately failed to declare an estimated £400,000 worth of income to the tax authorities. He also under declared VAT liabilities of at least £127,000.
HMRC raised assessments for the unpaid tax and levied penalties against 3PE. However, this remained unpaid when the engineering company entered into liquidation in November 2018, following a petition to wind up the company by HMRC.
In excess of £200,000 worth of tax was outstanding when 3PE entered into liquidation, but investigators established that Briscoe had drawn down more than £1.2 million from the company in payments to bank accounts in which he personally had an interest.
Jane Knight, deputy head of insolvent investigations Midlands & West at the Insolvency Service, said: ‘Abraham Briscoe failed to declare 3PE’s true liabilities to HMRC. Under-declaration of taxes due by a company deprives the exchequer of the monies needed to provide public services.
‘His disqualification means that he will not be able to run a limited company for eleven years and will help to protect HMRC from future losses. The Insolvency Service will not hesitate to pursue disqualification in such cases.’