Two tax dodgers who sold over 50 properties have been jailed for over 4 years each for failing to declare £1 million in tax.
Mr Himat Chana, 59, of Ilford, Essex, and his associate Mr Madhu Bhajanehatti, 45, of London, sold dozens of properties over an eight-year period – which they did not declare to HM Revenue and Customs. In the process the pair evaded £991,000 in Capital Gains Tax. They were discovered by a specialist HMRC Property Tax Taskforce set up to attack fraud in this sector.
They were both charged with Cheating the Public Revenue. Bhajanehatti admitted a £650,000 tax fraud, and Chana was convicted after trial of defrauding £341,000 in tax. The duo were sentenced today. Both got custodial sentences. Bhajanehatti got 50 months and Chana got 52 months, in prison.
Bhajanehatti was also ordered to pay back £190,000 in a confiscation order. If he doesn’t do so in under three months he will get a further 30 months in jail; and if further assets of his are identified in the future they could yet be confiscated. HMRC are currently pursuing Confiscation proceedings against Chana.
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