Ceiling firm bosses banned for not paying tax

TWO bosses of a Lancashire building contractors, which went under owing creditors nearly £1.3m, have been banned from being company directors.

Paul Sterry, 44, from Bacup and Darren McGaughey, 45, from Bolton, were disqualified for six and five years respectively for the conduct in running Blackburn-based BCP (NW) Ltd.

BCP (NW) was a suspended ceiling contractor and supplier which went into administration in November 2010 with estimated debts of £1,29m.

A probe by the Insolvency Service’s Company Investigations Team in Manchester found that between November 2009 and November 2010, Mr Sterry and Mr McGaughey failed to ensure that the company paid £598,547 owed in tax to HMRC).

The Insolvency Service also said the pair had also failed in their statutory duty to ensure that the company maintained adequate accounting records and provided investigators with computerised records which were insufficient to verify the company’s financial dealings.

The paid gave undertakings to the Department of Business, Innovation and Skills not to manage or in any way control a company or be a director for the agreed periods.

Commenting on the disqualifications, Claire Entwistle, director of Company Investigations North, said: “Failure to comply with the basic requirements of being a director will result in the protection of limited liability being withdrawn, as these two directors have found out.”