Two tax accountants from Montpelier, an Isle of Man based tax consultancy, have been charged with tax fraud – for their part in a £1m tax scheme; designed to exploit tax relief on gifts to charities, according to a report by Ellie Newton-Syms in The Business Desk today.
The Crown Prosecution Service has charged Isle of Man resident Edward Watkin Gittins (a director of Montpelier and a Fellow of the Institute of Chartered Accountants) and Martin Calcutt (a Montpelier employee and member of the Institute of Chartered Accountants), with “Cheat contrary to Common Law”. Calcutt has also been charged with “Forgery contrary to section 1 of the Forgery and Counterfeiting Act 1981”.
HM Revenue & Customs raided Montpelier’s offices in 2010; following suspicions that the company had sold fraudulent schemes, dressed up as legitimate tax avoidance, to hundreds of wealthy clients – leading to a loss of about £90m of tax. HMRC allege that from 2004 to 2007 they aided and abetted clients to abuse a tax relief which allows people to make a gift to charity to offset the value of those gifts against their tax liabilities. It is also alleged that forged documents were supplied to HMRC as part of the claims made.
Mr Gittins’ solicitor has said: “Mr Gittins has co-operated throughout the investigation and answered questions and supplied material to HMRC. He denies any wrongdoing and is relishing the opportunity to finally clear his name”, according to a report in IFAONLINE.
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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