Finance
Directors warned over unpaid VAT
Directors can be held personally responsible for a company’s VAT debt in certain instances, according to national audit, tax and advisory firm Crowe Clark Whitehill. The warning comes from Keri
Pay, VAT partner at Crowe’s Midlands office, and is a wake-up call for directors who might assume they can walk away from a limited company without being liable for its debts. Mr Pay said there was a
‘burgeoning catalogue’ of case law that revealed HMRC is increasingly pursuing directors for unpaid VAT bills and penalties. He said: “Common hallmarks
with cases brought to tribunal are usually involving suspicions of fraud, and often a director will attempt to dissolve the company or deregister for VAT after HMRC begins investigating.” He also highlighted ‘inaccuracies
in VAT returns’ and similar offences, covered by The Finance Act 2007. He said: “For inaccuracies, it
needs to have been deliberate and attributable to the director in question, and the liability must be served by written notice to the director.”
VAT crackdown: Keri Pay HMRC’s has said it will only pursue
directors for inaccuracies when they have attempted to gain personally, or if the company is insolvent or likely to become insolvent. The 2017 Finance Act also
includes two more VAT provisions which expand directors’ liabilities, one involving the new ‘fulfilment house due diligence regime’ and another regarding VAT fraud. Mr Pay said: “These new laws,
along with three recent tribunal cases involving VAT personal liability notices, all in the last six months, give a clear picture of the direction of travel. The message is clear: HMRC considers directors fair game.”
Sector Focus
From left: Paul Hayes, Brett Critchley, Mark Holland and Jim Kimberley PKF acquires tech firm
PKF Cooper Parry has acquired Sync Interactive, a West Midlands-based creative agency specialising in mobile and business apps. The deal, for an undisclosed figure, will expand PKF Cooper Parry’s
business offering, giving clients new ways to grow their business through technology. As well as mobile and web design, Sync Interactive designs user interfaces
(UI) and user experiences (UX), games, illustration, packaging and brands. It also creates virtual reality (VR) and augmented reality (AR) apps. Sync Interactive has created a variety of apps for High Street restaurants
and football clubs, and its employees will be moving into PKF Cooper Parry’s Park View office in Solihull. Mark Holland, managing director of Sync Interactive, said: “The whole team
at Sync Interactive are extremely excited to join PKF Cooper Parry, who share our passion for the future of mobile technology and how it can help to drive the digital transformation of businesses.”
June 2018 CHAMBERLINK 55
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