A father, mother and their three daughters from Tooting, South London, were found guilty of a multi-million pound tax fraud and money laundering scam.
Isaac William (aged 61) ran a business supplying security guards to the construction industry. HMRC investigators found that between 1999 and 2008 his businesses received income of £6m. However his combined partnership, personal income tax, VAT and PAYE returns to HMRC declared the income as £1m. Some of the undeclared profits were transferred from the business bank accounts into his wife’s and daughters’ personal accounts.
Isaac William pleaded guilty to ten counts of tax fraud was jailed for failing to declare £5m of business profits and not paying the correct amount of tax due. He was sentenced to four years imprisonment on each count, to run concurrently. His wife Venus (54), and their three daughters Sophie William (26), Sylvia William (34) and Maria Gunasekara (33), were also sentenced for laundering £1.3m from the business into their own bank accounts.
The family used the money to finance the purchase of two properties in Pakistan, and properties in the UK. They withdrew large amounts of cash and transferred some of it into bank accounts they held in Dubai and Pakistan. The taxman is taking proceedings to confiscate the proceeds of their crimes.
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