Internet trader Gregory Allnutt (aged 40) from South Norwood, London, has been convicted of 12 counts of tax evasion and sentenced to 20 months in prison; after an investigation by HM Revenue & Customs (HMRC).
He was jailed for attempting to defraud over £420,000 of Value Added Tax (VAT) due on goods sold online. The taxman has also commenced Confiscation Proceedings.
Allnutt’s home was raided by HMRC officers in June 2011. They uncovered evidence proving that from 1 September 2007 Allnutt used a VAT registration number to obtain zero rated goods from suppliers within the EU, which he then sold them on through another online company. He did not declare and pay the tax to HMRC.
HMRC used this prosecution to announce that in early 2012 they will be launching a Campaign focused on people using e-marketplaces (e.g. e-bay) to buy and sell goods as a trade or business, and who fail to pay the tax owed. Using the same techniques and sources they used to discover Allnutt’s trading activity, HMRC has begun gathering the information it needs to identify individuals and companies involved in this type of trade.
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.
*For a free, private, no obligation consultation, call Paul Lynam today on 0845 643 9997