Car dealer parked in jail after breaking tax laws
A car dealer who cheated £275,000 from the taxman has been jailed for 30 months following an investigation by Inland Revenue officials.
Following his arrest in February 1999, Terence Peter Wilcock of Bradford was ordered to repay £275,000 within nine months by a confiscation order, or face a five year consecutive sentence.
Wilcock started his car dealership in the late 1980s and in December 1989 told the Revenue the business had ceased. He never made any further income tax returns but did have accounts prepared which were sent to his bank as evidence of eligibility for loans.
By early 1995 he owned a property in Gildersome worth more than £200,000 and had built a villa in Spain.
Despite his wealth, Wilcock paid no income tax and in late 1995 he told tax inspectors he was unemployed and had only recently returned from Spain.