Craig Allsop, director of Bradford-based Demeq (UK), has been banned from acting as a director for five years after the firm failed to submit VAT returns, and to disclose £253,742 of VAT from sales.
The undisclosed VAT was on sales between August 2001 and May 2010. The disqualification follows an investigation by the Insolvency Service.
Demeq was placed into creditors’ voluntary liquidation in December 2010, and has a deficiency to creditors of over £300,000.
The firm manufactured demolition equipment from its commercial premises in Bradford.
Claire Entwistle, director of company investigations (north), said: “Mr Allsopp failed to ensure that the company complied with its statutory requirements to submit returns and pay VAT for a significant period, while continuing to charge VAT on its sales.
“The company kept the money paid by its customers in tax. This is stealing twice – first from those customers who paid the VAT, and second from the Crown, to whom the VAT was owed.
“The public can be assured that The Insolvency Service will take tough action against directors who fail in their statutory obligations to hand over money collected on behalf of the Crown.”
Mr Allsop now cannot act as a director of a limited company, take part in the promotion, formation or management of a company, be a liquidator or administrator of a firm, or be a receiver or manager of a company’s property.