Called to account

Tax / HMRC raids Newcastle and West Ham football clubs

Over a hundred HMRC officers have been deployed on early morning raids at two football clubs - Newcastle United and West Ham -  with several arrests made in connection with allegations of tax fraud

Insight / Jail term for property developer in £640k fraud

A former Ascot-based property developer, who stole the details of an offshore company in the British Virgin Islands and forged documents to commit fraud and evade VAT, has been jailed for three years and seven months following an HMRC investigation

Audit / FRC fines Grant Thornton £2.3m over AssetCo audit failures

The Financial Reporting Council (FRC) has fined Grant Thornton UK £2.275m and given retired partner Robert Napper a three-year ban and a £130,000 fine after its investigation identified a range of ‘widespread and significant’ failings in work on the audits of AssetCo plc, a provider of  outsourced fire and rescue services and equipment

Insight / VAT fraudster ordered to repay £2.2m

A man who falsely claimed to be an accountant and was sentenced for his role in a complex VAT repayment fraud involving fake construction companies, has now been ordered to repay more than £2.2m or face a further period in prison

Accounting / Accountant in £200k fraud at London Metal Exchange

Annmarie Norris, who worked her way up to become head of the accounting department at the London Metal Exchange (LME) despite not having a professional qualification, has been jailed for 32 months for a £200,000 fraud, which the court heard was facilitated by ‘extremely lax’ accounting practices

Insight / Payday lender enters administration

Paul Boyle and David Clements of Harrisons Business Recovery and Insolvency Ltd have been appointed joint administrators of CFO Lending Ltd, a payday lender which has hit cashflow difficulties after it was required to provide over £34m of redress to more than 97,000 customers for unfair practices following an investigation by the Financial Conduct Authority (FCA)

Insight / Horse trainer tripped over £280k tax fraud

A fake North Yorkshire horse trader who attempted to avoid an investigation into a £280,000 tax fraud by lying about having cancer has been jailed following an HMRC investigation

Insight / Tax fraud marks end of road for haulier

A road haulage company director, has been disqualified for eight years after failing to maintain adequate company records and withholding some £175,000 due to HMRC

Audit / KPMG US removes head of audit for ‘improper’ warnings

The head of the audit practice at KPMG’s US firm, along with four other partners and one employee, have been asked to leave after it was discovered they had received improper advanced warning of regulatory inspections by the Public Company Accounting Oversight Board (PCAOB)

Insight / Disqualification for dentist owing HMRC £100k

A Harley Street dentist has been disqualified as a director for seven years, after his company went into administration owing HMRC more than £100,000 and he was discovered to have spent over £1m of company money on a personally-owned property in a French ski resort

Insight / Tax fraud catches up with accountant

A self-employed accountant from the Wirral, who failed to pay £38,000 tax for five years, has been given a suspended sentenced following an HMRC investigation

Accounting / FCA ban and fine for CFO of failed spread betting firm

The former chief financial officer (CFO) and former financial controller of spread betting company Worldspreads Ltd (WSL) have both been banned and fined by the Financial Conduct Authority (FCA) over claims of market abuse at the company, which went into administration after a £15m black hole was uncovered in the client money accounts

Insight / Businessman shoots himself in foot over £1.3m tax fraud

A millionaire shooting club owner and businessman, who paid a bookkeeper and an accountant to keep meticulous records but never submitted the returns they prepared, has now been given a two-year sentence for failing to pay over £1.3m in tax, following an HMRC investigation

Insight / Investigation into children’s charity’s trustee governance

The Charity Commission, has opened a statutory inquiry into children’s charity Believe in Magic, and has frozen its bank account, over concerns about possible trustee mismanagement and the failure to file annual accounts

Insight / Called to account: April 2017

The latest scandals and penalties including a jail sentence for a £419,000 tax fraud, SEC satellite imagery unearths $3.3bn fraud, landlord fined £200,000 over tax fraud
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