MR STUART MORLEY

Disqualified from

2020-01-01

Date of birth on record

January 1971

1. From 07 September 2014 until the date of his resignation on 15 July 2016 Stuart Edward Morley (“Mr Morley”) failed to ensure that Fusion Aerospace Limited (“Fusion”) complied with its statutory obligations to submit quarterly returns and/or make payments as and when due in respect of Value Added Tax (“VAT”). As at the date of his resignation HM Revenue and Customs (“HMRC”) was owed £38,897 in respect of VAT including surcharges of £3,564; 10.1 Fusion registered for VAT with effect from 18 November 2013 and submitted nil returns for the periods ended 01/14 and 04/14; 10.2 Fusion submitted VAT returns for the periods ended 07/14 in the sum of £5,365 that should have been paid in full by 07 September 2014 and 10/14 in the sum of £4,767 that should have been paid in full by 07 December 2014. Fusion made no payment whatsoever against the notified liability of £10,132 that remained outstanding as at the date of liquidation; 10.3 Fusion failed to submit any quarterly VAT returns to HMRC for the periods ended 31 January 2015 to 30 April 2016, a period of 6 consecutive quarters; 10.4 In the absence of VAT returns, HMRC raised VAT and surcharge assessments totalling £28,765 against which Fusion made only one payment in the sum of £150 that was allocated by HMRC against the assessed liability for the period ended 01/15; 10.5 Year end accounts to 30 November 2015 show that creditors were in the sum of £58,461 of which VAT was in the sum of £30,509, Corporation Tax £27,252 and accruals totalling £700; 10.6 The total outstanding to all creditors at Liquidation on 03 August 2017 was £139,666 of which HMRC was owed £75,291 comprising £63,156 in respect of VAT, £11,511 in respect of CT and £624 accrued interest. Trade creditors were owed £59,775 and his Co-Director £4,600.