An estate agent based in London’s Docklands has been disqualified from acting as a director for three years following an investigation into unpaid tax by the Insolvency Service.
Angus Edy was the sole director of Movello (London) Ltd which went into liquidation in February 2012 with debts of £168,177, of which he owed HM Revenue and Customs £143,126.
The investigation found that Edy paid only £29,843 to HMRC in VAT and PAYE/NIC liabilities from April 2009 to February 2012 when it was trading. The investigation also uncovered that during the final eight months of trading, of the £523,414 paid out by the company, only £11,434 went to HMRC, with £29,209 going to Edy himself.
Sue Macleod, Insolvency Service head of insolvent investigations,Midlands and West, said: “Company directors have a duty to ensure businesses meet their legal obligations, including paying taxes. Failure to do so is not a victimless offence as it deprives the taxpayer of the funds needed to operate public services.”