Partner Article

York haulage firm director disqualified for £2 million fraud

The director of York haulage firm Geoffrey F Munford Ltd has been banned from holding a directorship after committing fraud worth nearly £2 million.

Geoffrey Munford, has been disqualified from being a director for 11 years after causing the company to submit false VAT and PAYE/NIC returns to HMRC.

Geoffrey F Munford Ltd was incorporated in 1973. The company’s registered office and trading address was Stirk House, Cross Lanes, Tollerton, York, YO61 1RB.

76-year-old Mr Munford has signed a disqualification undertaking after an investigation conducted by the Insolvency Service into his conduct whilst a director of Geoffrey F Munford Ltd.

Mr Munford did not dispute that he caused the company to submit false VAT and PAYE/NIC returns to HMRC.

It means that from 2 February, he will be banned from acting as a company director, or in any way controlling a company until 2026.

This action resulted in the company failing to declare to HMRC VAT due of £1,758,506 over a period of 9 years and PAYE due of £277,581 over a period of 6 years.

Geoffrey F Munford Limited entered administration on 11 February 2013 with assets of £72,457 and liabilities of £2,557,836.

Mr Munford also did not dispute that he caused the company to maintain duplicate accounting records and raise false invoices in order to hide the true level of taxes due.

The company entered administration on 11 February 2013 with liabilities of £2,557,836. Of this amount £1,949,134 was owed to HMRC in respect of undeclared VAT, PAYE and NIC.

Robert Clarke, Head of Insolvent Investigations North, stated: “VAT and PAYE fraud is a serious attack on the public finances and the Insolvency Service will investigate any director of a company found to have been involved in such activities.”

This was posted in Bdaily's Members' News section by Clare Burnett .