Jail term for accountant over £110K unpaid VAT
An ICAEW-qualified accountant from Northamptonshire has been jailed for14 months for failing to pay £110,000 in VAT he charged on his services, following an HMRC investigation
6 Jan 2017
Malcolm Rash, the director of Riverside Business Ltd, was found to have issued invoices charging companies for his management services that included VAT but HMRC established he kept all the money he collected.
Rash was interviewed under caution in January 2016 and was charged with the fraudulent evasion of VAT in August 2016. He admitted the offences at Peterborough Crown Court on 3 January and was sentenced to 14 months in prison. Confiscation proceedings are in place to recoup the money.
Colin Spinks, assistant director, fraud investigation service, HMRC, said: ‘Rash thought he had come up with a plan to avoid paying the full tax owed. But he could not have been more wrong as HMRC will always pursue those suspected of tax fraud.
‘Tax evasion is not a victimless crime. Rash was stealing money that should have been funding vital public services, but instead chose to keep it for himself. Now he is paying the price behind bars.’