Jailed chartered accountant must cough up £2.5m
Christos Charalambous will face longer jail term for tax fraud if he fails to pay back ill-gotten gains
Christos Charalambous will face longer jail term for tax fraud if he fails to pay back ill-gotten gains
A FORMER chartered accountant must pay back nearly two and a half million pounds after being convicted for tax fraud back in 2010.
Christos Charalambous, 60, of Palmers Green, is serving an eight-year prison sentence for fraudulently submitting more than 6,000 self assessment forms.
He falsely claimed expenses through client forms then took a percentage as a fee before paying the rest to clients – who would assume he had filed the forms correctly.
As sole practitioner for his firm Charltons, he had also understated the income he received from client fees on his personal tax returns. He also failed to VAT register the firm or pay any VAT.
If he fails to make the repayment in the next ten months he could serve another eight years in jail.
“We are determined to make sure that crime doesn’t pay. This is money that belongs in the public purse, and this confiscation order will ensure it is returned,” said Robert Alder, assistant director criminal investigation at HMRC.
Charalambous was a member of the ICAEW from 1979 to 2005, when he was excluded from the institute for failing to co-operate with the then Inland Revenue.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceAccountancy Age catches up with Saffery Champness as it takes stock of a period of change Read More...
View articleAs Deloitte posts 6% growth for its 2014/15 fee income, it reveals pay gap data for the first time Read More...
View articleBeing vigilant with clients over money laundering and terrorist financing requires an appreciation of tech advances. Tania Hayes reveals the latest IT...
View articleWith law firm Gateley set for an IPO, it should be very mindful of the problems faced now-extinct accounting firms that had taken the listed route Rea...
View articleA new leader at Grant Thornton, and a more democratic ownership structure looms. Partners will be fine with the change - as long as their pay doesn't ...
View articleEstimated fees for undertaking an insolvency will need to be produced as part of a transparency and value drive, according to business minister Jo Swi...
View articleBaker Tilly's impending name change opens up a range of possiblities, writes Calum Fuller Read More...
View articleSurvey finds interpretation of requests for pay rises holds women back in accountancy Read More...
View article