Property bosses banned for abusing tax regime

Harrison Property Companions Ltd was integrated in Could 2012. The corporate supplied property lettings and property administration companies, buying and selling from workplaces in Tower Hamlets, East London.

Six years later, nonetheless, Harrison Property Companions went into Collectors Voluntary Liquidation in February 2018 and the corporate’s insolvency triggered an investigation by the Insolvency Service.

Investigators uncovered that Khushal Khagram, Andrew Matin and Alan George had both failed to take care of firm information or abused the tax regime, resulting in all three being banned from working restricted firms for a complete of 13.5 years.

Alan George Clark (39), of Benfleet, Essex, was the primary to be banned for 3.5 years in August 2020 after investigators uncovered he didn’t submit tax returns whereas he was a director from September 2013 till he resigned in July 2016 and traded to the detriment of the tax authorities.

Tax returns submitted after Alan Clark left Harrison Property Companions confirmed that near £191,000 was owed to the tax authorities following his misconduct.

The following director to be banned was 34-year-old Andrew Geoffrey Matin from Thames Ditton in Surrey. The property boss was faraway from the Corporations Home register for six years in August 2021 after investigators uncovered that Andrew Matin failed to make sure the corporate maintained adequate accounting information and/or didn’t ship these to the liquidator.

Andrew Matin’s misconduct means it’s not doable to confirm a lot of Harrison Property Companions’ actions. This included verifying whether or not greater than £770,000 spent was on authentic enterprise expenditure, confirming the character of fifty funds to three accounts totalling £187,600, figuring out the extent of remuneration taken by Andrew Matin, and the precise causes for the property firm’s insolvency.

Throughout his time as director, Andrew Matin additionally failed to make sure the property firm submitted tax returns between October 2016 and February 2018 and traded to the detriment of the tax authorities. Because the property firm went into liquidation, the tax authorities are owed greater than £309,000 in tax liabilities – an increase in liabilities owed in comparison with the tenue of Alan Clark.

An accountant by commerce, Khushal Khagram (52), of Finchley, North London, was the final of the administrators to be banned on 24 November 2021 for 4 years.

Investigators uncovered that Khushal Khagram had dedicated misconduct much like each Alan Clark and Andrew Matin’s in that he failed to make sure the property firm submitted tax returns between October 2016 and February 2018 and traded to the detriment of the tax authorities. As is the case with Andrew Matin, the tax liabilities owed by the corporate elevated below Khushal Khagram’s directorship.

Khushal Khagram, Andrew Matin and Alan Clark had their disqualification undertakings accepted by the Secretary of State and are banned from instantly or not directly turning into concerned, with out the permission of the court docket, within the promotion, formation or administration of an organization.

Lawrence Zussman, Deputy Director of Bancrupt Investigations, mentioned:

All three property bosses completely disregarded their tasks as firm administrators. The absence of correct firm information means we can not confirm authentic enterprise actions and the failure to submit tax returns means additionally they abused the taxpayer within the course of.

13-and-a-half years is a substantial period of time to be faraway from the company enviornment and can defend collectors and the tax payer from any additional hurt attributable to Khushal Khagram, Andrew Matin and Alan Clark.

Notes to editors

Khushal Khagram’s date of delivery is proven as Could 1969.

Andrew Geoffrey Matin’s date of delivery is proven as March 1987.

Alan George Clark’s date of delivery is proven as November 1982.

Harrison Property Companions Ltd (Firm Reg no. 08087113).

Individuals topic to a disqualification order are certain by a variety of restrictions.

Additional details about the work of the Insolvency Service, and learn how to complain about monetary misconduct.

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