Business · Chippenham
Chippenham businessman among those banned from running companies
By Swindon Now Editorial Team · Published
A Wiltshire company director is among several individuals across the region disqualified by the Insolvency Service for business misconduct.
A Wiltshire businessman has been disqualified from acting as a company director following an investigation by the Insolvency Service into his conduct. William David Jackson, of Chippenham, was handed an eight-year ban after it was found that he provided misleading information to secure a government-backed loan.
The investigation into The Vintage Bath Company revealed that in February 2021, Mr Jackson applied for a Bounce Back Loan of £50,000 using an overstated turnover figure. This resulted in the business receiving at least £33,905 more in funding than it was legitimately entitled to claim. By the time the company entered liquidation, a loss of £50,798 remained outstanding to the bank.
The disqualification is part of a wider enforcement drive by the Insolvency Service, which has identified several individuals across Bristol, Somerset and Wiltshire who have been prohibited from managing businesses in the last three months. These bans, which can last for up to 15 years, are issued when directors are found to have acted unfitness-to-serve, including failing to maintain proper company records, neglecting to prepare annual accounts, or failing to meet tax obligations to HMRC.
Under the terms of a disqualification, an individual is legally barred from acting as a director of any company registered in the UK, or an overseas business with connections to Britain. They are also prohibited from being involved in the formation, marketing, or management of a company for the duration of their ban. Breach of these terms is a criminal offence that can result in heavy fines or a prison sentence of up to two years.
The Insolvency Service continues to monitor corporate compliance and maintains a public register of disqualified directors to protect the business community and the public from financial misconduct. Other recent disqualifications in the wider region involved company bosses who failed to comply with immigration legislation by employing staff without the right to work in the UK, as well as those who misappropriated company funds for personal gain.
Source: Bristol Post — Business · View original