INTROSPECTIVE MANAGEMENT SOLUTIONS LTD

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Disqualified Directors Conduct

Charlene Wallace
Disqualified from being a director because of their conduct for the period of
3 Years 6 Month(s)
Disqualification starts from
23 December 2019
Improper conduct which resulted in their disqualification
Charlene Wallace (“Mrs Wallace”) caused or allowed Introspective Management Solutions Limited ("IMSL") to trade to the detriment of Her Majesty's Revenue And Customs ("HMRC") in respect of Value Added Tax ("VAT") from 7 January 2017 the date that quarter ending 30 November 16 fell due for payment and in respect of Corporation Tax (“CT”), from 01 March 2017 the date that the return to 31 May 2016 fell due for payment until here resignation on 16 April 2018, resulting in a liability to HMRC of £215,800 including surcharges and interest; VAT
IMSL was in arrears in respect of VAT from the 07 January 2017, the date that the liabilities of £28,339 for the quarter ended 30 November 2016 fell due for payment. Five payments totalling £14,000 were made towards this liability leaving £14,339 outstanding.
Between 07 January 2017 and 16 April 2018 five VAT returns were filed totalling £100,008 against which no payments were made by ISML. As a result at 16 April 2018 £125,929 was outstanding including surcharges totalling £11,582
Between 07 January 2017 and 21 March 2018 five payments were made to HMRC totalling £14,000 which were allocated to the liabilities for quarter ended 30th November 2016. Corporation Tax
Between 01 June 2015 and 31 May 2016 a CT liability of £43,520 had accrued. A return was submitted on 02 September 2016 which fell due for payment on 01 March 2017. No payment was made towards this liability.
Between 01 June 2016 and 31 May 2017 a CT liability of £46,350 had accrued. A return was submitted on 29 March 2018 which fell due for payment on 01 March 2018. No payment was made towards this liability.
No return was filed and no assessment has been raised for the period from 1 June 2017 until 16 April 2018. Differential Treatment
Between 07 January 2017 and 16 April 2018 payments totalling £893,850 were made from IMSL’s bank account of which £328,354 was paid to the directors and £14,000 was paid to HMRC in respect of VAT.
At 16 April 2018, IMSL had liabilities to HMRC comprising of £125,929 in respect of VAT (inclusive of surcharges) and £92,441 in respect of CT (inclusive of interest).
Andrew Wallace
Disqualified from being a director because of their conduct for the period of
4 Years 0 Month(s)
Disqualification starts from
23 December 2019
Improper conduct which resulted in their disqualification
Andrew Wallace (“Mr Wallace”) caused Introspective Management Solutions Limited ("IMSL") to trade to the detriment of Her Majesty's Revenue And Customs ("HMRC") in respect of Value Added Tax ("VAT") from 7 January 2017 the date that quarter ending 30 November 16 fell due for payment and in respect of Corporation Tax (“CT”), from 01 March 2017 the date that the return to 31 May 2016 fell due for payment until liquidation, resulting in a liability to HMRC of £274,300 including surcharges and interest; VAT
IMSL was in arrears in respect of VAT from the 07 January 2017, the date that the liabilities of £28,339 for the quarter ended 30 November 2016 fell due for payment. Five payments totalling £14,000 were made towards this liability leaving £14,339 outstanding.
Between 07 January 2017 and 30 August 2018 six VAT returns were filed and one assessment totalling £148,642 against which no payments were made by ISML. As a result at 30 August 2018 £181,858 was outstanding including surcharges totalling £18,877.
Mr Wallace made a proposal to HMRC for a time to pay agreement on 03 April 2018 and 16 April 2018 to repay £4,000 per month. This was rejected by HMRC.
Between 07 January 2017 and 21 March 2018 five payments were made to HMRC totalling £14,000 which were allocated to the liabilities for quarter ended 30th November 2016. Corporation Tax
Between 01 June 2015 and 31 May 2016 a CT liability of £43,520 had accrued. A return was submitted on 02 September 2016 which fell due for payment on 01 March 2017. No payment was made towards this liability.
Between 01 June 2016 and 31 May 2017 a CT liability of £46,350 had accrued. A return was submitted on 29 March 2018 which fell due for payment on 01 March 2018. No payment was made towards this liability.
No return was filed and no assessment has been raised for the period from 1 June 2017 until cessation of trade. Differential Treatment
Between 07 January 2017 and 30 August 2018 payments totalling £1,221,317 were made from IMSL’s bank account of which £449,774 was paid to the directors and £14,000 was paid to HMRC in respect of VAT.
At liquidation, IMSL had liabilities totalling £280,352 of which £274,300 was owed to HMRC comprising of £181,859 in respect of VAT (inclusive of surcharges) and £92,441 in respect of CT (inclusive of interest).

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