Ant Middleton BANNED as director of his own firm after £1m tax bill and SAS Who Dares Wins axing
ANT Middleton has been banned as a company director over unpaid taxes, with his company owing more than £1million.
The former elite soldier and host of SAS: Who Dares Wins on Channel 4 was the director of Sway and Starting Limited along with his wife Emilie Middleton, both 44.
The company, which was described as offering media representation services, was set up to manage income from his television and media work.
It comes after the pair were forced to sell their family home as the firm’s debts built up and they faced bankruptcy.
Middleton purchased the sprawling five bed property in Essex back in 2019 for £1.16 million.
Ant often showed off the rural retreat on social media as he posted snaps of his five children, who he shares with wife Emilie.
It is described as an ‘exceptional residence’ and an ‘exquisite home’ – the floor plans detailing the property layout with Ant’s standalone gym.
‘HAD ENOUGH INCOME TO PAY TAX’
Sway and Starting failed to pay more than £1million in tax, and in the same period more than £4.5million was paid into the company’s accounts, “indicating it had enough income to pay the tax it owed in full”, according to the Government’s Insolvency Service.
A statement went on to say: “But both the directors failed to ensure the company paid more than £300,000 in VAT and over £800,000 in corporation tax between 2019 and 2022.
“This was despite more than £4.5 million being paid into the company’s accounts from 2020 to 2022.
“The pair had also taken out almost £3 million from the company in the form of a director’s loan account by the time the company went into liquidation in December 2022.
“Ant Middleton later agreed to repay £300,000 of the director’s loan as a full and final settlement with the liquidator.”
The Middletons have been banned as company directors for four years.
Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said: “Companies not paying the tax they should deprives the government of the money it needs to pay for the country’s defence services, our NHS, schools and universities, and transport systems.
“Ant and Emilie Middleton had legal and financial duties as directors to ensure their company paid the corporation tax and VAT it owed. Instead, they were taking millions of pounds out of the company at that time.
“This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned.”
Middleton formed the company in September 2019 and his wife became a director in May 2019.
The company, previously known as Middleton Global Limited, failed to pay any of the £869,351 in corporation tax it owed between September 2019 and March 2021.
Sway and Starting also only paid £267,443 in VAT out of a total of £651,961 it owed between March 2020 and September 2022, leaving £384,518 unpaid.
Insolvency Service analysis of the company’s bank accounts showed that £4,592,200 was paid into the company between April 2020 and November 2022.
By the time of the company’s liquidation, the pair also owed Sway and Starting at least £2,961,745 through their director’s loan account.
The Secretary of State for Business and Trade accepted disqualification undertakings from Ant and Emilie Middleton, and their bans started on Monday (March 24) and last Wednesday (March 19) respectively.
It prevents them from being involved in the promotion, formation or management of a company, without the permission of the court.
HOUSE WOES
This comes as the former elite soldier and host of SAS: Who Dares Wins was forced to sell his home.
The 44-year-old bought the luxury five bed property in Essex back in 2019 for £1.16 million.
Filed at Companies House, a Progress Report, stated: “During the period a settlement was entered into with the director whereby he would pay £300,000 in full and final settlement of his overdrawn Directors Loan Account.
“The director failed to adhere to the payment plan and only one instalment was received.
“A statutory demand was served on the Director with a view to petitioning for his bankruptcy. He subsequently agreed to sell his matrimonial home and provide the remainer of the amount owed under the settlement agreement.”
Sway and Starting went into liquidation in December 2022, the progress report filed by liquidators Begbies Traynor the third insolvency document to be drawn up.
A Statement of Affairs signed off by Middleton at liquidation reported monies owed by directors to the firm at £2.7 million.
Also reported were £1.2 million in tax debts – comprising £342,792 in VAT, £907,191 in corporation tax and £6,370 in employee taxes.
As well as reporting the sale of the family home, the progress report also revealed an ‘asset trace’ was undertaken into ‘the assets of the director.’
The Middletons set up Sway and Starting in 2014, and it traded as Middleton Global until September 2022.
The pair owned through Middleton Global Group, and it traded modestly for its first four years. Its net worth reported at £1 in 2015, £91 in 2016, £114 in 2017 and £1,644 in 2018.
Its money making years coming in 2020 and 2021, with a £821,629 profit reported for 2020, as well as dividend pay at £1,089,980. With the firm holding £807,887 in its last accounts.
The upturn in profits was accompanied by an increase in the firm’s tax debt and significant loans from the business to Ant and his wife.
Sway and Starting owing £807,887 in tax as at the last accounts, the couple borrowing almost £1.7 million during the trading year and owing £1.5 million as at the date of the accounts.
Ant left the UK to move to Dubai last year he was axed from SAS: Who Dares Wins in 2021, heading off to Australia to do a foreign format of the programme.