Ten-year ban for director who promoted tax avoidance scheme costing HMRC more than £2.5m
A company director who promoted a tax avoidance scheme that cost HM Revenue and Customs (HMRC) more than £2.5m has been banned from being a company director for ten years.
Sean Bourke, the former director of several companies involved in the tax avoidance scheme, was found to have promoted the scheme to other companies and individuals, knowing that it was designed to exploit a loophole in the tax system.
The scheme involved the use of a series of companies and trusts to create artificial losses that could be used to offset against profits, reducing the amount of tax that was due.
HMRC investigated the scheme and found that it had cost the Exchequer more than £2.5m.
Bourke was disqualified from being a company director for ten years by the Insolvency Service.
Commenting on the case, Robert Clarke, Chief Investigator at the Insolvency Service, said:
“This was a sophisticated tax avoidance scheme that was designed to exploit a loophole in the tax system. Bourke was a key player in promoting the scheme and he knew that it was designed to avoid tax.
“His disqualification should serve as a warning to others that promoting tax avoidance schemes is a serious offence and will not be tolerated.”
The Insolvency Service is responsible for investigating and prosecuting corporate misconduct. It has a range of powers, including the power to disqualify directors from being a company director.
Anyone who suspects that a company is involved in tax avoidance can report it to HMRC.
Ten-year ban for director who promoted tax avoidance scheme costing HMRC more than £2.5m
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