Gary Quillan, 55, was the sole director of BOH Investments Limited since November 2008 and remained there until the company was dissolved in April 2020.

In 2019 Quillan was disqualified from acting as a company director for 12 years by the Insolvency Service while acting for KJK Investments Ltd under the Company Directors Disqualification Act 1986.

The HMRC closure notice was issued under section 28A of the Taxes Management Act 1970 (TMA 1970) for the 2018-19 tax year related to a director’s loan account with an outstanding balance of £382,456.

HMRC issued the closure notice for £145,058.66 under s415(1) Income Tax (Trading and Other Income) Act 2005 (ITTOIA) for the overdrawn balance.

First Tier Tribunal judges had to decide whether or not the s415(1) of the ITTOIA applied to the director’s loan account, and whether the loan had been written off or released, which would determine if any tax was owed.