Accountant jailed: for £11m tax fraud

A London accountant has been sentenced to 8 years in prison for stealing £11m in Income Tax and Value Added Tax: by falsifying his clients’ and his own tax returns.
Christos Charalambous (58) of Palmers Green, filed Self Assessment tax returns for clients.  These included fictitious expenses claims, which increased the tax repayments due.  The total repayments claimed by the fraudster for his clients was £11,222,472.  He also understated client fee income on his own tax returns by £807,000, and failed to declare and pay £180,082 VAT.  His accountancy firm, Charltons, received the clients’ repayments from HMRC, deducted a minimum 15% fee, and then paid the remainder to the clients.
He was found guilty on six counts of cheating the public purse at Blackfriars Crown Court, following a 7 week criminal  trial, and is now in prison.  A Confiscation Order is being pursued.

Lynam Tax Investigation Experts have a vast amount of practical experience in managing serious tax fraud investigations.  If you are worried about a tax investigation we can advise you on the best course of action.  If appropriate, we can help you manage any necessary disclosures.  If you are facing criminal charges we can help you obtain first class legal representation, in order to obtain the optimum outcome for you, your business and your family.

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