A North London accountant has been disqualified from acting as a company director for five years for failing to make sure his firm paid its tax liabilities, following an investigation by the Insolvency Service
David Lowe, who is a member of ACCA, was the director of DPL Business Services Ltd, an accountancy firm based in Barnet which he set up in 1997. The company became insolvent in March 2012 owing £147,472 to HMRC.
Lowe did not dispute that he failed to pay outstanding taxes which resulted in tax losses for HMRC. He agreed that he would not act as a director of a limited company for five years as a result of his conduct as director of DPL in a written deposition to the secretary of state for business.
Mark Bruce, a chief investigator with the Insolvency Service said: ‘The undertaking signed by Lowe sends a clear message to other company directors: If your company becomes insolvent because you have not taken seriously your responsibilities as a director when dealing with payment of tax, the Insolvency Service will investigate you and you could be taken away from doing business.’
