AN ADULT magazine distributor has been jailed for 16 months for falsely claiming almost £75,000 in VAT repayments.
Kenneth Drake submitted false VAT repayment claims to HMRC by providing fake documentation in order to support the claims, relating to purchases and sales of adult magazines and DVDs for his company Top Shelf.
HMRC officers found that Drake claimed to have purchased goods from three companies that did not exist and paid VAT on them.
He admitted to creating the false paperwork to claim the VAT repayment claims and pleaded guilty to VAT fraud offences in July. He was sentenced at Lewes Crown Court.
Martin Brown, assistant director at HMRC, said: “HMRC are clamping down on VAT fraudsters, and we are investing more time and resources than ever to identify tax cheats and bring them to justice.”
Katie Clark of McDermott Will & Emery explores the 'gig economy', looking at practical steps employers should consider when engaging individuals as self-employed contractors
Ross Risby and Will Naylor of DAC Beachcroft highlight the key issues for accountants to consider when undertaking legal work
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Partner at Pinsent Masons says Serious Fraud Office has secured 'one of the top ten enforcement actions of all time'