Chapter CH282230

Record NumberCH282230
Published date11 March 2016

Typical misconduct might include but is not limited to:-

Failure to comply with tax and company obligations e.g.

  • Tax
  • Deliberate Submission of false information to HMRC
  • Failure to register, failure to file Returns or failure to file accurate Returns
  • Failure to operate PAYE
  • Deliberate non-payment of HMRC liabilities
  • Payments on assessments for prolonged period which are substantially less than true debt
  • Fraud, such as under declaration/ suppression of taxes by failing to record sales
  • Deliberate tax avoidance/ breach of DOTAS legislation
  • Companies Act
  • Failure to file documents at Companies House
  • Failure to submit statutory returns over a 2 year period

Not acting in best interests of the company e.g.

  • Putting personal gain before the profits of the company (conflict of interest)
  • Illegal dividends
  • Personal enrichment/ excessive benefits
  • Transactions at an undervalue (e.g. company assets gifted to director)
  • Dissipating assets/ removal of assets
  • Assets disposed of when aware of insolvency

Trading with knowledge of insolvency and/ or phoenixism

Transactions to the detriment of creditors

  • Preferential payment (favouring one creditor over another)
  • Misfeasance - a misuse, neglect or abuse of duty of care to the...

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