A CASH and carry director was found guilty of fraudulently claiming nearly £4m in VAT on liquor purchases.
Moon Beever solicitor Frances Coulson, who helped prosecute Madhusudan Patel, said the conviction proved that the tactic of HMRC liquidating businesses and letting the liquidators tackle the fraud worked, reported the Telegraph.
Patel, director of Payless Cash & Carry, was found to have claimed for input tax on trades that did not take place.
Patel had claimed the trades were all legitimate, however judge justice Mann placed a freezing order on his assets, including residential properties.
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