Takes £423,000 for himself and his family before liquidating the IT services company
An IT consultant will not be allowed to be a company director for eight years after overpaying himself and his family from the income of his liquidated company.
Anthony Hodges has signed a disqualification undertaking preventing him from acting as a company director for eight years.
An Insolvency Service investigation found Hodges failed to ensure Hodges & Coley Ltd paid its tax liabilities from January 2011 until January 2014, when the company went into liquidation.
This resulted in a liability to HM Revenue and Customs (HMRC) of £191,136 at the date of liquidation. In that period Hodges paid £3,100 to HMRC and at least £423,024 to himself and his family. The total deficiency to creditors at the date of liquidation was £223,424.
Of the £423,024 paid to Hodges and his family, £41,471 was paid on or after 23 October 2013 at a time when H&C was insolvent and Hodges had informed his accountant of his intention to liquidate the company.
The disqualification means Hodges cannot control or manage a limited company without leave of the court.
Robert Clarke, head of insolvent investigations North at the Insolvency Service, said: “Company directors have a duty to ensure businesses meet their legal obligations, including paying taxes, and must not benefit themselves at the expense of creditors.”