CompaniesInTheUK

MR NASHATAR SINGH BAINS

5 current appointments · 8 resigned

Director disqualification 1

A record on the Insolvency Service's register of disqualified directors matches this person's name and date of birth. Companies House publishes no reliable person identifier, so confirm on the official register before relying on it.

Nashatar Singh BAINS

7 Years 0 Month(s)
Same month of birth Name matched
Disqualified from
2021-02-24
Date of birth on record
August 1967

Nashatar Singh Bains (“Mr Bains”) as the sole registered director of Square Developments Leicester Ltd (“SDLL”) caused a payment of £420,000 to be made to a connected company on 16 November 2018 at a time when he knew, or ought to have known, that a Value Added Tax (“VAT”) liability of at least £420,000 incurred following the sale of SDLL’s property had fallen overdue for payment to HM Revenue & Customs (“HMRC”) on 08 November 2018 thus rendering SDLL insolvent. The payment was to the detriment of HMRC, who were owed at least £635,462 at Liquidation. • On 24 August 2018, SDLL’s property was sold to an unconnected company for £2,520,000 including VAT of £420,000. From the proceeds of sale SDLL loaned £420,000 to a third party; • Once the sale had been completed SDLL had no other assets or source of income and after the VAT debt falling due on 8 November 2018, SDLL was insolvent. • On 08 November 2018, SDLL’s VAT return for the VAT quarter ended 09/18 fell overdue for submission and payment to HMRC. The VAT return was not submitted by SDLL to HMRC; • HMRC wrote to SDLL on 29 November 2018, advising HMRC had obtained a copy of SDLL’s invoice in respect of the sale of the property and the VAT on the invoice of £420,000 had not been declared by SDLL to HMRC. HMRC also stated that in the absence of a response by 12 December 2018 HMRC would issue an additional assessment for this amount and charge penalties; • On 03 December 2018, a solicitor acting on behalf of SDLL received £420,000 in respect of a loan advanced by SDLL to a third party; • On 07 December 2018 Mr Bains instructed the solicitor to transfer £420,000 to a connected company of which Mr Bains is the sole director and shareholder; • HMRC issued a Notice of VAT Assessment to SDLL on 11 April 2019 for £420,000. On 15 April 2019, issued a Statement of Account to SDLL for £428,775 (includes interest of £1,496) and stated it was due for immediate payment; • On 03 June 2019 HMRC issued a further demand letter to SDLL in respect of its VAT liabilities which stated that a winding up petition would be presented against SDLL if full payment was not made within 8 days; • On 13 August 2019 SDLL entered into Creditors’ Voluntary Liquidation. At the date of liquidation creditors were owed £637,862 of which HMRC was owed £635,462 (includes £420,000 VAT assessment and interest) in respect of VAT. • There are no assets shown on the Statement of Affairs submitted in the liquidation proceedings by Mr Bains and it is unknown why £420,000 of SDLL funds were paid to a connected company rather than to SDLL.

Details

Occupation
DIRECTOR
Nationality
BRITISH
Country of residence
UNITED KINGDOM
Date of birth
August 1967
Correspondence address
LAKESIDE, 7 SOUTHMEADS CLOSE OADBY, LEICESTER, LEICESTERSHIRE, LE2 2LT

Track record

12

companies, the first appointed in 2005. All 12 are now dissolved.

7 of them are registered at the same address (B3 2FD) — commonly an accountant, a shared office or a family business.

Appointments 13

Why these appointments?

Companies House does not publish a reliable identifier for a person. We group appointments by name and date of birth, so this list may be incomplete — the same person can appear under a different spelling or with no date of birth recorded.

Records that may be the same person 3

These are separate Companies House records that share details with this one. Companies House does not publish a reliable person identifier, so they may or may not be the same individual. Check before relying on this.