The director of a payroll company has been disqualified from being a director, setting up or managing a company after giving an undertaking for eight years.
Having set up a payroll services company, S Jonas Solutions, Jonas Stankevicious placed the company into creditors voluntary liquidation only a few months later.
Mr Stankevicious misdemeanor was flagged up to the Insolvency Service by the Insolvency Practitioner while carrying out his investigations.
The Insolvency Service found that Mr Stankevicious had failed to keep adequate accounting records so no proper reconciliation of the bank account could be made and he was unable to explain the £2.7m which had been paid from the company bank account.
HMRC were unable to quantify their claim in the insolvency.
The message to directors is clear – keep meticulous company records.
For advice or more information on any insolvency procedure, please call Stella and she will make you an appointment with one of our insolvency professionals in any of our offices in East Yorkshire, North Yorkshire or North East Lincolnshire. Stella can be reached on 01377 257788 or email@example.com. Our initial meetings are free and without obligation and can be held virtually or in any of our offices whilst observing the socially distancing guidelines.