A Welsh garage owner who traded while insolvent has been disqualified from acting as a director for seven years, after an investigation by the Insolvency Service found he owed HMRC around £90,000 in tax
Russell Williams was the director of Bets Centres Ltd, a garage repairer and MOT specialist group of businesses set up in October 2012 which traded from three separate locations in and around Cardiff. The company was subject to a creditors’ voluntary liquidation in August 2014 and had an estimated deficiency of £373,803.
The Insolvency Service investigation found that Williams continued to trade between January and August 2013 whilst his business was insolvent, incurring further liabilities of £106,097, including £89,134 for PAYE/National Insurance contributions and VAT.
Williams also personally benefitted by causing £107,200 in transactions to the detriment of creditors from January to June 2013.
Sue MacLeod, chief investigator of the Insolvency Service, said: ‘In investigating insolvent companies, the Insolvency Service always looks very closely at individuals who demonstrate a disregard for creditors and appropriate action is taken where wrongdoing is uncovered.’
