One of the UK’s biggest tax fraudsters, Ian Leaf, yesterday failed in his
attempts to convince a judge that he had not generated £99m from illegal trades.
Leaf is currently serving a 10-year jail sentence for running scams where he
acquired companies and used them to fleece the taxman.
Leaf would buy businesses that were in difficulty but still had enough cash
to pay off any tax liabilities. Leaf would then create bogus loans and masses of
paperwork to build the impression that highly lucrative forex deals were
underway, out of which dividends were paid.
These dividends were then used to reclaim corporation tax paid by the
companies before Leaf bought.
In court yesterday Leaf’s lawyers failed to convince Judge David Higgins that
Leaf did not have £99m that he had generated from frauds, the FT
Leaf is attempting to fend off attempts by the prosecution to recoup money
taken from the taxman by locating any realisable assets he may have in his
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states