A Folkestone fish and chip shop owner has to pay £200,000 in 14 days, or serve 3 years in jail, after admitting to 2 counts of Cheating the Revenue.
Canterbury Crown Court this week ordered Russell Fox, aged 43, to pay a confiscation order: after he fraudulently evaded Income Tax, National Insurance Contributions and VAT. The order includes an amount to reflect the value of the tax fraud at today’s prices.
HMRC Criminal Taxes Unit proved that, in order to hide his tax evasion, Fox routinely provided his accountant with rewritten weekly takings sheets; that were lower than those kept by his manager. He also destroyed till rolls. He then took cash from the true takings: his own spreadsheets showing he took from £365 up to £5,250 per week. This was aimed at concealing his tax evasion of £175,000 in Income Tax and National Insurance Contributions. He also distorted his business expenditure in order to underpay his VAT of almost £68,500.
He pleaded guilty in court to 2 counts of Cheating the Revenue. In addition to the confiscation order, he was sentenced to 12 months imprisonment (suspended for 2 years); 250 hours community service; and a 3 month curfew. If he doesn’t pay the £200,001.86 within 14 days he will have to serve a 3 year default prison sentence.
Lynam Tax Investigation Experts have a vast amount of practical experience in managing serious tax fraud investigations. If you are worried about a tax enquiry 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.
*For a free, private, no obligation consultation, call Paul Lynam today on 0845 643 9997