UK tax authorities take action against Indian-origin store owner for tax offenses (representation)
London:
An Indian-born convenience store owner in the UK has been banned for six years from running a business because of incorrect tax declarations submitted to authorities. Pratik Kumar Patel agreed to an undertaking of disqualification, a process that does not involve legal proceedings, after the UK Insolvency Service brought action against him for showing “total disregard” of his responsibility as a boss. company.
“Much of the public service is funded by the correct amount of taxes paid and their deception ultimately had an impact on the public that relies on businesses paying their taxes correct,” said Lawrence Zussman, deputy head of insolvent investigations for the insolvency service. Thursday.
He said the massive six-year ban would severely restrict Mr. Patel’s ability to operate in the corporate arena, and should serve as a warning to other directors “who think they can do what they want.”
R.K. Patel & Sons (UK) Limited was incorporated in May 2015 and took over the activities of an existing convenience store located on South Square in Knowle in Hampshire, in the south-east of England.
Between October 2015 and January 2019, the sole director of the company was Mr Patel, who the Insolvency Department said caused the company to suppress sales income and submit inaccurate returns to tax authorities.
When R.K. Patel & Sons (UK) Limited entered into a ‘voluntary liquidation of creditors’ in August 2019, it was determined that the company had tax obligations totaling 345,000 pounds. His six-year disqualification, which takes effect from October 7, means that he is prohibited from acting as a director or from being involved directly or indirectly, without the authorization of the court, in the promotion, formation or management of a company.
