On the subject of defrauding HMRC, it was recently reported in Accountancy that Michael Kitchen and seven others were sentenced to jail at Liverpool Crown Court for a toal of 18.5 years for diverting £1.2M of tax payments to his partners in crime through 158 separate payments.
Kitchen was employed by HMRC to allocate payments for PAYE accounts, and was fired in 2009 after an internal investigation.
Kitchen was ordered to pay back £175K, or face a further two years behind bars.
Ian Horridge, Internal Governance, HMRC, said:
"Kitchen abused his position of trust in a sophisticated and sustained fraud aimed at paying the tax liabilities of his friends and associates. HMRC is committed to the highest level of integrity and we take the strongest possible action against the tiny minority who let us all down by falling short of those standards.
We also use confiscations to ensure that people don’t benefit financially from their criminal activity. The confiscation orders required all the defendants to pay back their ill-gotten gains, or face jail and still owe the money."
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.
Click the link to read about: Tax Investigation for Dummies
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"