Ant Middleton, a former elite soldier and host of SAS: Who Dares Wins, has found himself in hot water after failing to meet his tax obligations.
Alongside his wife, Emilie Middleton, the couple has been barred from holding directorial positions for four years due to significant tax arrears.
Their company, Sway and Starting Limited, which they ran together, left unpaid tax bills mounting to over £1 million despite receiving millions in income.
Unpaid Taxes Amid Profitable Business
Between 2019 and 2022, Sway and Starting brought in a hefty £4.5 million in revenue, yet failed to pay taxes due.
The company racked up over £800,000 in corporation tax and £300,000 in VAT during that period, according to the Government’s Insolvency Service.
Despite having the financial means to cover these debts, the Middletons opted not to fulfill their legal tax responsibilities, which led to their eventual disqualification.
Financial Discrepancies and Director’s Loan
By the time the company went into liquidation in December 2022, the Middletons had withdrawn nearly £3 million from the company through a director’s loan account.
In an effort to settle the issue, Ant Middleton later agreed to pay £300,000 back to the liquidators as part of a final settlement.
However, their failure to fully comply with the payment plan triggered their disqualification.
Legal Ramifications and Impact on Public Services
The Insolvency Service’s Director of Investigation and Enforcement Services, Dave Magrath, emphasized that companies failing to pay their taxes deprive the government of essential funds needed for public services like defense, education, and healthcare.
The Middletons, as directors, were expected to ensure their company paid the taxes owed, yet instead, they drained millions from it during a time when tax payments were overdue.
Background on the Company and Its Financial Downfall
Sway and Starting was originally launched in 2019, with Ant Middleton as its founder and Emilie joining as a director a few months later.
The company, previously known as Middleton Global Limited, primarily handled income from Middleton’s media and television ventures.
However, despite an initial boost in profits, the company soon found itself struggling with tax debts, amounting to over £1 million by the time it went into liquidation.
The Middletons’ Personal Struggles and Home Sale
As the financial situation worsened, the Middletons faced the loss of their family home.
Located in Essex, the property was bought by Middleton in 2019 for £1.16 million and was often showcased on social media.
To settle their outstanding debts, the Middletons were forced to sell the property as part of the liquidation process.
What’s Next for Ant and Emilie Middleton?
The Middletons’ disqualification from directorships is a clear reminder of the legal obligations that directors must adhere to, especially in terms of tax responsibilities.
As a result, both Ant and Emilie Middleton will need court approval before they can engage in any company management activities again.
Their story serves as a cautionary tale about the importance of financial responsibility and the consequences of neglecting business duties.