MASSIVE DYNAMIC TECHNOLOGY LTD

Thomas Edward Ireland

February 1976

Disqualified from being a director because of their conduct for the period of

4 Years 0 Month(s)

Disqualification starts from

22 October 2024

Improper conduct which resulted in their disqualification

From at least 07 December 2018 to 22 March 2023 (the date of liquidation) Thomas Edward Ireland (“Mr Ireland”) failed to ensure that the company met its financial commitments as regards to Corporation Tax (“CT”) and Value Added Tax (“VAT”) and caused the company to continue trading whilst withdrawing funds for the benefit of himself, which was to the risk and ultimate detriment of HMRC, in that: Corporation Tax • MDT submitted returns in respect of its liabilities for Corporation Tax (“CT”) for the accounting periods ending between 15 October 2018 and 31 October 2020 which declared CT due to HMRC totalling £91,004.89. Payments totalling £10,500 were made towards these liabilities which partially paid the liability for the first accounting period, leaving £80,504.89 outstanding in the Liquidation. The full liability for the first accounting period to 15 October 2018 ought to have been paid in full by 16 August 2019. Value Added Tax • MDT submitted returns in respect of its liabilities for Value Added Tax (“VAT”) for the quarters ending between 01/18 to 10/22 which declared VAT due to HMRC totalling £57,444.98. Payments totalling £18,525.60 were made towards these liabilities, which fully settled the VAT liabilities for the quarters ended 01/18 to 07/18 and partially settled the VAT liability for the quarter ended 10/18, leaving £38,919.38 outstanding in the Liquidation. The VAT liability for the quarter ended 10/18 ought to have been paid in full by 07 December 2018. Comparative treatment • MDT’s turnover and bank receipts for the period December 2018 to Liquidation totalled approximately £493,503.34. As at the financial year ended 31 October 2020, Mr Ireland’s Director’s Loan Accounts is outstanding at £121,109.25. During the period of 01 November 2020 to Liquidation, Mr. Ireland received £265,710.55 from MDT, including £9,736 which was withdrawn from the bank account after he was notified by MDT’s former accountants of the winding up petition. The total payment made to HMRC throughout trading was £29,025.60 (CT: £10,500 and VAT: £18,525.60). HMRC is the largest creditor in the Liquidation.