A London company director has been banned for 11 years after causing Three Points Engineering Ltd to avoid paying taxes.
Abraham Briscoe was the sole director of Bromley-based Three Points Engineering Ltd (3PE). The company was incorporated in June 2011 and provided heating, air conditioning and gas engineering services in London and the South-East.
Enquiries by HMRC and the Insolvency Service found that Briscoe had regularly caused Three Points Engineering to declare incorrect levels of tax liabilities due. Between July 2011 and June 2014, Briscoe deliberately failed to declare around £400,000 worth of income to the tax authorities. He also under-declared tax liabilities of at least £127,000.
HMRC raised assessments for the unpaid tax and levied penalties against 3PE. However, this remained unpaid when the engineering company entered into liquidation in November 2018, following a petition to wind up the company by HMRC.
More than £200,000 worth of tax was outstanding when 3PE entered into liquidation and yet investigators established that Briscoe had drawn down more than £1.2m from the company in payments to bank accounts in which he personally had an interest.
Effective from 30 September 2019, Briscoe cannot, without the permission of the court, be involved in the formation, promotion or management of a company, directly or indirectly.
Jane Knight, deputy head of insolvent investigations Midlands & West, said: “Abraham Briscoe failed to declare 3PE’s true liabilities to HMRC. Under-declaration of taxes due by a company deprives the exchequer of the monies needed to provide public services.
“His disqualification means that he will not be able to run a limited company for 11 years and will help to protect HMRC from future losses. The Insolvency Service will not hesitate to pursue disqualification in such cases.”