Convicted tax fraudster, and former accountant , Christos Charalambous must now pay HMRC back £2,462,175 following his conviction for tax fraud. If he does not pay the money back within 10 months, he faces an extra eight years in jail: on top of his current 8 years sentence for tax evasion.
Tax cheat Charalambous (aged 60) of Palmers Green, London N13, was the sole proprietor of Charltons Accountants. He was born in Cyprus and moved to the UK in 1970. He was found guilty on 6 counts of Cheating the Revenue of £11.2m in June 2010 and is currently serving an 8-year prison term. He was convicted of submitting over 6,000 fraudulent Self Assessment tax returns on behalf of his clients.
He would include fictitious expenses claims on his clients returns without showing them what he had included. He arranged to receive the clients’ repayments from HMRC, and would then deduct a minimum of 15% as a fee, and then repay the balance to his unquestioning clients. He also understated his own client fee income by £807,406.67, and failed to register, declare or pay VAT due on his accountancy firm, Charltons; which was liable to VAT of £180,082.
The total amount of repayment claimed by Charalambous was £11.2 million. The taxman is recovering the rest of the money from former clients who were given the fraudulent tax rebates. Charalambous has been an accountant for over 30 years. From 1979 to 2005, he was a Chartered Accountant. In November 2005, he was excluded from the Institute of Chartered Accountants in England and Wales for failing to co-operate with the Inland Revenue.
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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