SHIREEN WALTON

Disqualified from

2021-02-05

Date of birth on record

February 1967

Shireen Walton (“Mrs Walton”) failed to ensure that Amulet Solutions Limited (“Amulet”) met its financial commitments as regards to Corporation Tax (“CT”), and Value Added Tax (“VAT”) and caused Amulet to continue trading whilst withdrawing some funds for the benefit of herself. As a result Amulet became unable to meet its financial commitments to HM Revenue & Customs (“HMRC”) as and when they became due at the latest from 08 December 2014. In that: ? Amulet failed to submit all returns and make the required payments for VAT, from at least the quarter ending October 2014, due for payment on 07 December 2014, up to the quarter ending April 2017 being the date of cessation of trading. ? VAT returns were submitted up to the quarter ending January 2016, with assessments raised thereafter until cessation in April 2017. Amulet failed to pay the amounts due in full which resulted in a VAT debt of £60,501 (including surcharges). ? Corporation Tax returns were filed for the years ending 31 March 2014 (due for payment on 01 January 2015) and 31 March 2015 (due for payment on 01 January 2016) totalling £31,213. £10,080 was paid in respect of this debt, but no further payments were made and no further returns were filed. The total sum of £21,133 remained outstanding at liquidation. ? Amulet’s bank statements analysis shows that between 07 December 2014 and 30 April 2017 payments were made to Mrs Walton totalling £150,800. A further £72,235 was paid in respect of the company’s business charge card, which she stated was used for her personal benefit. A further £3,920 was paid in respect of personal debt repayments. Over the same period, payments to HMRC totalled £42,003. ? HMRC’s final claim in the liquidation shows that they are owed £151,601, the only other creditor is £4,318 owed to a bank, resulting in a total debt at the time of the winding up order of £155,919. The debt to HMRC comprised of the figures listed above in addition to Corporation Tax assessments for 2016 and 2017 of £48,835 (which the Secretary of State has not included in the allegation due to the time it fell due and the right for the company to retrospectively off set profits against losses), VAT assessments of £17,196 (including surcharges) which have not been included in the allegation figure as they were raised for periods after the company ceased trading, PAYE of £1,269, interest of £2,118 and a National Insurance penalty of £200.