The owner of a Chinese takeaway has been disqualified from running a company for five years because he under-declared cash sales and VAT.
Ricky Sum was a director of Yat Yeen Limited, which traded under the name of Chung Ku in Rainhill, Liverpool. He also failed to pay the under-declared VAT.
The business went into liquidation on 22 July 2015 owing £50,606 to its creditors.
Commenting on the disqualification, Robert Clarke, Chief Investigator at the Insolvency Service, said:
“Under-declaration of sales deprives the exchequer of vital funds for public services. In co-operation with HMRC, the Insolvency Service will not hesitate to investigate such misconduct with disqualification as a director the probable consequence.”
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
• act as a director of a company
• take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
• be a receiver of a company’s property.
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