Construction boss banned as a director over £1.1m tax case

The head of a construction company has been disqualified as a director for 11 years after his four companies reclaimed almost £400,000 in VAT they were not entitled to.

Hassan Waqar, who is now based in Dubai, submitted falsified documents to HMRC and failed to provide supporting evidence for VAT repayment claims, the Insolvency Service said.

It added that Waqar’s four companies – Kiani Construction Ltd, Moneemint Ventures Ltd, Zoya Investments Ltd and HN Restaurants Ltd – were all struck off the Companies House register between February and June 2023, with total debts to HMRC of more than £1.1m in VAT assessments, penalties and interest.

Waqar, 30, incorporated Kiani Construction in August 2021.

Zoya Investments, which traded in carrying out fit-outs, was set up in March the same year.

Fast food business HN Restaurants and banking service platform Moneemint Ventures were both set up in May 2020.

Waqar’s director ban came into effect yesterday (26 June), the Insolvency Service said in a statement.

The ban prohibits him from being involved in the promotion, formation or management of a company without the permission of the court.

Victoria Edgar, chief investigator at the Insolvency Service, said: “Hassan Waqar submitted falsified documentation for VAT reclamations that his companies were not entitled to receive.

“Our investigations found that he failed to provide supporting evidence for claims across multiple businesses, with over £1.1m owed when these companies were struck off the Companies House register in 2023.

“The Insolvency Service is committed to taking action against directors who fail to meet their legal and financial obligations, protecting the integrity of the business environment and the tax system.”

The four companies received a total of £396,982 in VAT repayments, the Insolvency Service said.

It added that HN Restaurants, Kiani Construction and Moneemint Ventures provided invoices to HMRC in support of their claims, but when HMRC contacted several of the suppliers they confirmed they had not issued invoices to the companies.

“Zoya Investments Ltd did not provide any evidence to support its VAT repayment claims,” the Insolvency Service said.

Its statement added that HMRC issued penalties to the four companies totalling £706,692, and the four firms owed a combined £1,136,832 in VAT assessments, penalties and interest.