A restaurant boss from Edmonton, North London, has been banned as a company director for six years after under-declaring tax leading to liabilities of more than £200,000.
Village Mangal Limited was incorporated in December 2012 and Ifras Coruk (43) was appointed the sole director at the same time.
The company traded as a Turkish Restaurant called Village Mangal in Amersham, Buckinghamshire, but “began to struggle” and by January 2019, Village Mangal Limited entered into creditors voluntary liquidation.
The insolvency process, however, triggered further investigations into Ifras Coruk’s conduct as director of Village Mangal Limited due to the company’s tax irregularities.
Investigators uncovered that Ifras Coruk had caused the company to under-declare its sales in various tax returns between December 2012 and September 2015.
At the point of liquidation, the Insolvency Service said Village Mangal had liabilities of just over £220,000 connected to the undeclaring of its sales, which resulted in penalties of over £98,000 also being issued by the tax authorities.
On 19 May 2020, the secretary of state accepted a disqualification undertaking from Ifras Coruk after he did not dispute that he had caused Village Mangal to submit inaccurate tax returns
The ban is effective from 9 June 2020 after which the restaurateur is banned for 6 years from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.
Lawrence Zussman, deputy head of Insolvent Investigations for the Insolvency Service, said: “Ifras Coruk failed to take his responsibilities as a director seriously and the risks he took ultimately ended up in his removal from the business environment for a substantial amount of time.
“Much of the public service is funded by the correct amount of taxes being declared and paid and Ifras Coruk’s ban should serve as a warning to other directors that you risk being disqualified if you do not comply with the law.”