TaxCorporate TaxIT company directors disqualified over unpaid tax bill

IT company directors disqualified over unpaid tax bill

IT company directors disqualified for ‘downloading’ company funds to their personal accounts

IT company directors disqualified over unpaid tax bill

TWO directors of IT consultancy Insight Computing Ltd have been disqualified as company directors, having left a large tax bill unpaid after transferring nearly £1m out of the company to their personal bank account.

Russell Bloore and Karen Bloore, Insight’s directors who now reside in France, were disqualified for five and three years respectively.

The Insolvency Service investigation following the firm’s liquidation found that the company owed HMRC at least £275,243, during which time Russell Bloore personally benefitted from at least £889,784 of the company’s funds.

Insight began trading in March 2002, providing IT integration services and business process technology to large corporate organisations, predominantly in the banking sector. Although its turnover reached the VAT threshold in February 2004, Russell Bloore failed to register it for VAT and submit returns until May 2012 shortly before the firm went into liquidation. He also failed to submit any corporation tax returns until May 2012.

Andrew Stanley, official receiver at Medway, said: “By not paying the correct tax, the director has short-changed the public purse by over a quarter of a million pounds and this is totally unacceptable. These directors abrogated their responsibilities and it should be no surprise they have been removed from the business environment.”

The disqualifications, from 11 and 10 September 2015 respectively, prevent Russell and Karen Bloore from directly or indirectly becoming involved in the promotion, formation or management of a company for the duration of the term.

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