Latest news with #RobCross
Daily Mail
16 hours ago
- Business
- Daily Mail
Former world darts champion, 34, is BANNED as company director for five years over failure to pay £450k tax bill
Rob Cross has been banned as a company director for five years after his business failed to pay more than £450,000 in tax. The ban prevents him from being involved in the promotion, formation or management of a company, without the permission of the court, until June 2030. The 2018 world champion set up Rob Cross Darts Limited in 2017 to receive prize money and it took in more than £1.4million in winnings and sponsorship as he embarked on the most successful spell of his career. But, before Mr Cross liquidated the company in 2023, he took out £300,000, which should have been paid to creditors, including to His Majesty's Revenue and Customs (HMRC). He also took more than £400,000 from the company in the form of a director's loan before the company was liquidated. Meanwhile, £665,419 was paid into the personal account of someone with links to Mr Cross. By the time it went into liquidation, Rob Cross Darts Limited owed the taxman £465,403. The 34-year-old, who is playing in the Nordic Masters in Copenhagen this weekend, entered into an Individual Voluntary Arrangement (IVA) last year and will make monthly contributions to pay off the money he owes. Kevin Read, chief investigator at the Insolvency Service, said: 'When directors fail to pay the correct amount of tax, it directly impacts the government's ability to fund vital public services such as the NHS, schools, transport infrastructure and our national defence.'
Daily Record
17 hours ago
- Business
- Daily Record
Rob Cross gets five-year director ban as former darts world champion punished over unpaid tax
"Voltage" is facing suspension until 2030 after payments issue Former World Darts champion Rob Cross has received a five-year ban as a director after his company failed to pay over £400,000 in tax. The 2018 king of the Alexandra Palace has been disqualified with commentary on the situation coming today from The Insolvency Service. Rob Cross Darts Limited was set up in May 2017 to receive prize money, but it was liquidated in 2023. During that time he failed to pay more than £400,000 to HMRC while also withdrawing £300,000 in money which should have been paid to creditors. "Voltage" has now entered an Individual Voluntary Arrangement to pay the monies off and how much he will contribute via this arrangement depends upon his earnings at darts tournaments. Kevin Read, chief investigator at the Insolvency Service, said: 'When directors fail to pay the correct amount of tax, it directly impacts the government's ability to fund vital public services such as the NHS, schools, transport infrastructure, and our national defence. 'Rob Cross's company owed more than £400,000 in corporation tax alone when it went into liquidation. 'For more than three years, he withdrew funds from the company which should have gone to HMRC and other creditors. 'This case demonstrates that we will pursue action against directors who deprive the public purse of much-needed funds. 'The rules apply equally to everyone in business, and we expect all company directors to comply with their legal responsibilities. 'Enforcing these rules consistently is crucial in maintaining a level playing field and preventing companies from gaining an unfair competitive advantage over compliant businesses that properly fulfil their tax obligations.' You can get all the news you need on our dedicated Rangers and Celtic pages, and sign up to our newsletters to make sure you never miss a beat throughout the season. We're also on WhatsApp where we bring all the latest breaking news and transfer gossip directly to you phone. Join our Rangers community here and our Celtic community here.
BBC News
19 hours ago
- Business
- BBC News
Ex-world darts champion Rob Cross banned as director over taxes
Former world darts champion Rob Cross has been disqualified from acting as a company director for five years after his business failed to pay more than £450,000 in Insolvency Service said it also found the darts player withdrew more than £300,000 from Rob Cross Darts Limited between 2020 and 2023 that should have gone to ban prevents him from being involved in the promotion, formation or management of a company, without the permission of the who previously lived in Hastings but was born in Pembury, Kent, has been contacted for a comment by the BBC. 'Directly impact funding' In an attempt to repay part of his debts, Cross has entered into an Individual Voluntary Arrangement, a legally binding agreement where he has committed to making regular payments to an insolvency practitioner. Rob Cross Darts Limited was set up in May 2017 for the darts player to receive his earnings and prize money, the government Insolvency Service said its investigations found the company received more than £1m from Mr Cross's earnings between the start of March 2020 and liquidation in November the time the company went into liquidation, it owed £403,896 in corporation tax, £49,071 in VAT and £12,436 in PAYE and National Insurance company had only paid £41,936 to HMRC between March 2020 and November 2023, the government said. Mr Cross's director's loan account was also overdrawn by £423,608 when the company went into liquidation with liabilities of £579, than £650,000 was also paid into the personal account of a connected party, the Insolvency Service Professional Darts Corporation (PDC) has also been contacted for a Read, chief investigator at the Insolvency Service, said: "When directors fail to pay the correct amount of tax, it directly impacts the government's ability to fund vital public services such as the NHS, schools, transport infrastructure and our national defence."
The Independent
20 hours ago
- Business
- The Independent
Darts star falls foul of HMRC over £450k tax bill
Rob 'Voltage' Cross, a former darts world champion, has been banned from running companies after failing to pay over £450,000 in tax. Mr Cross, who won the PDC World Darts Championship in 2018, took money from Rob Cross Darts Limited, the company he used to collect earnings, which should have been paid to creditors, including HMRC. Before liquidating the company in 2023, Cross took out £300,000 and a director's loan of over £400,000, while £665,419 was paid into a personal account linked to him. By the time Rob Cross Darts Limited went into liquidation, it owed the taxman £465,403. Mr Cross's ban, approved by Business Secretary Jonathan Reynolds, prevents him from managing companies without court permission.
The Sun
21 hours ago
- Business
- The Sun
Former world darts champion Rob Cross banned as director after company failed to pay more than £450k in tax
FORMER world darts champion Rob Cross has been disqualified as a director for five years after his company failed to pay more than £450,000 in tax. Voltage, 34, is banned as a company director until June 2030 and entered into an Individual Voluntary Arrangement (IVA) last year in a bid to pay off some of the money he owes. 2 2 The Insolvency Service also found that the Premier League Darts star withdrew more than £300,000 from Rob Cross Darts Limited between March 2020 and November 2023 that should have gone to creditors, including to HM Revenue and Customs (HMRC). The world No.9 also took out more than £400,000 from Rob Cross Darts Limited – which was set up eight years ago to receive his earnings and prize money – in the form of a director's loan account by the time the company went into liquidation. In an attempt to repay part of his debts, Cross has entered into an IVA, a legally binding agreement where he has committed to making regular payments to an insolvency practitioner. The monthly contributions Cross makes to the IVA will vary depending on the income he receives through his performances at darts tournaments during this year and future years. Cross famously won the PDC World Darts Championship in 2018 – he trounced the retiring Phil Taylor 7-2 in the final – on his debut appearance in the competition. Kevin Read, Chief Investigator at the Insolvency Service, said: "When directors fail to pay the correct amount of tax, it directly impacts the government's ability to fund vital public services such as the NHS, schools, transport infrastructure and our national defence. "Rob Cross's company owed more than £400,000 in corporation tax alone when it went into liquidation. "For more than three years, he withdrew funds from the company which should have gone to HMRC and other creditors. "This case demonstrates that we will pursue action against directors who deprive the public purse of much-needed funds. "The rules apply equally to everyone in business, and we expect all company directors to comply with their legal responsibilities. Fans sing along to Luke Littler's walk-on song as darts star shares footage from stage "Enforcing these rules consistently is crucial in maintaining a level playing field and preventing companies from gaining an unfair competitive advantage over compliant businesses that properly fulfil their tax obligations." Rob Cross Darts Limited was formed in May 2017, with Cross appointed as director on the same day. Insolvency Service investigations found that the company received more than £1million from Cross's earnings between the start of March 2020 and the date of liquidation in November 2023. A total of £169,500 in sponsorships and £261,901 from his management company was also paid into the company. However, in the same period, Cross withdrew funds of at least £306,403 from the company which he acknowledged was 'to the risk and ultimate detriment of HMRC'. A further £665,419 was paid into the personal account of a connected party. By the time the company went into liquidation, it owed £403,896 in corporation tax, £49,071 in VAT, and £12,436 in PAYE and National Insurance contributions. The company had only paid £41,936 to HMRC between March 2020 and November 2023. Cross's director's loan account was also overdrawn by £423,608 when the company went into liquidation with liabilities of £579,805. The Secretary of State for Business and Trade accepted a disqualification undertaking from Cross – a former electrician – and his ban started on June 5. It prevents him from being involved in the promotion, formation or management of a company, without the permission of the court. Nordic Darts Masters.
