MR DEREK HOLE

Disqualified from

2019-11-28

Date of birth on record

April 1935

Over the period of 5 years from January 2012 to August 2017, Mr Derek John Hole (Mr Hole), caused Briar Building Limited (Briar) to submit to HM Revenue and Customs (“HMRC”) 68 VAT returns fraudulently reclaiming £644,579. Mr Hole stated that the majority of the funds received were used for his personal benefit. In that:<br>A VAT inspection was carried out on in January 2018, where Mr Hole admitted submitting erroneous VAT Returns;<br>From the £644,579 received by Briar from HMRC, the company’s bank statements show that at least £365,290 was transferred into accounts in Mr Hole’s name and at least £55,431 transferred into accounts in a connected party’s name, of which Mr Hole had control. At least £295,831 of this was used by Mr Hole to fund spreadbetting. £14,500 was paid into his personal accounts from his spreadbetting accounts, indicating a loss as a result of gambling of at least £281,331.<br>In addition, at least a further £99,542 was used make credit card and loan repayments that were not for the benefit of Briar.<br>In September 2018 Mr Hole was convicted, following a guilty plea, for the submission of false VAT returns.<br>At the date of the winding up order, Briar’s debt totalled £661,836, of which £656,611 was owed to HMRC in respect of input tax claimed for the VAT periods from 01/02 to 08/17 to which the company was not entitled.