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Accountancy firm director banned for 7 years due to poor tax reporting

26 June 2015

Peter Josh Lashmar has been disqualified as a director for 7 years after failing to provide accurate tax reports and accounts for his accountancy firm, Lashmars (UK) Limited. The Lymington-based company has now gone into liquidation. 

Despite being a ‘tax specialist’, Lashmar did not register for VAT with HMRC accordingly, leading to a Civil Evasion Penalty of £35,270 - Lashmar’s act was deemed ‘dishonest’. 

The accountancy firm went into liquidation in September 2012 owing this penalty and all of its unpaid taxes, totalling £211,424. The Insolvency Service found Lashmar did not provide enough information to the liquidator with various records of company transactions missing. 

Mark Bruce who was in charge of the investigation at the Insolvency Service said, “Directors have a clear, statutory duty to ensure that their companies maintain proper accounting records and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency”.

“The Insolvency Service will rigorously pursue traders who seek an unfair advantage over their competitors by not paying VAT or PAYE to the Government”.

A stark warning to all companies to register VAT and other taxes with HMRC!