In Trunkwell Leisure v HMRC [2014] UKFTT 976 – 21 October 2014 the FTT found that a sleeping director should have been aware of the tax liabilities of his company.
Trunkwell which was owned by Mr Walton provided catering facilities for weddings and other events. Mr Collins purchased 50% of the business with Mr Walton becoming a sleeping director of a newly formed company.
Mr Collins changed the business address of the company so that Mr Walton was not aware of any correspondence from HMRC or of the fact that it had issued a winding up petition. He only became aware of that fact on receipt of a call from the London Gazette. He then set out to rescue the business by paying any outstanding tax over a period of time and buying out Mr Collins.
The issue was...
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In Trunkwell Leisure v HMRC [2014] UKFTT 976 – 21 October 2014 the FTT found that a sleeping director should have been aware of the tax liabilities of his company.
Trunkwell which was owned by Mr Walton provided catering facilities for weddings and other events. Mr Collins purchased 50% of the business with Mr Walton becoming a sleeping director of a newly formed company.
Mr Collins changed the business address of the company so that Mr Walton was not aware of any correspondence from HMRC or of the fact that it had issued a winding up petition. He only became aware of that fact on receipt of a call from the London Gazette. He then set out to rescue the business by paying any outstanding tax over a period of time and buying out Mr Collins.
The issue was...
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