STEWART SCOTT CONSULTING LIMITED

STEWART JAMES SCOTT

October 1976

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

4 Years 0 Month(s)

Disqualification starts from

12 September 2023

Improper conduct which resulted in their disqualification

Stewart James Scott (“Mr Scott”) caused Stewart Scott Consulting Limited (“SSCL”) to make payments from 1 September 2020 for his personal benefit that caused SSCL to become insolvent and were to the detriment of SSCL’s creditors, in that: SSCL traded as a vehicle through which Mr Scott provided personal services, operating under IR35 Regulations. Mr Scott knew, or ought to have known, that the IR35 Regulations were due to change in April 2020. SSCL received no trading income after 31 January 2020 and had no contracts. At 31 August 2020 SSCL was solvent with assets of £81,282 comprising Mr Scott’s loan account of £31,246 together with recoverable tax thereon of £7,957 and monies at bank of £42,079. Liabilities at that date totalled £71,234; being PAYE and NIC due to HMRC of £45,234, a bounce bank loan of £23,000 and £3,000 due for accountancy fees. Between 1 September 2020 and no later than 8 August 2021 Mr Scott caused SSCL to pay out the £42,079 held at the bank to him or for his benefit. No payments were made to HMRC in respect of the liabilities outstanding at 31 August 2020. SSCL entered liquidation on 16 December 2021. For the purposes of the liquidation Mr Scott caused his loan account, which stood at £39,203 on 31 August 2020, and the company monies received after that date, to be treated as salary and business expenses. In doing so, an additional PAYE and NIC debt of £26,993 became due and Mr Scott’s loan account was converted to a credit balance of £1,627. There are no recoverable assets in the liquidation and creditors total £105,627, being PAYE and NIC of £72,227, which date back to August 2019, a bounce back loan of £23,000 on which instalments were due to commence in July 2021, accountancy fees of £3,000 and Mr Scott owed £1,623.