Legal News

Insolvency Service announces four-year director disqualifications over £1m tax default

Published on: 24 March 2025
Published by LNB News

LNB News 24/03/2025

Document Information

Issue Date: 24 March 2025

Published Date: 24 March 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has announced director disqualifications against two directors of Sway and Starting Limited, following the company's failure to pay £869,351 in corporation tax and £384,518 in VAT. The directors are both banned from any company management and engagement for four years, effective from March 2025. The Insolvency Service's investigation revealed the company received £4.5m in income between April 2020 and November 2022, while accumulating £2.96m in overdrawn director's loan accounts prior to its December 2022 liquidation.

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