Four tax fraudsters who ran a well known chain of restaurants have been jailed for a period totalling 10 years. They were involved in a tax fraud totalling £800,000 including pocketing staff tips and under declaring the sales as well as falsely taking nearly £300,000 in tax credits. The fraudsters were named by HMRC as Sadiqur Rahman, Mizanur Rahman, Mohammed Sharif Uddin from Wednesbury and Abul Kamal from West Bromwich. They spent the stolen tax money on luxury holidays, properties and sent large amounts of cash to Bangladesh. HMRC will also be selling their assets to collect the tax and penalties owed. See more….
Tag Archives: Tax fraud investigation
Businessman jailed following tax investigation
Peter Davis, aged 58, has been sent to prison for 4 years. Mr. Davis, from London and director/ shareholder of Formula 1 Teamwear Ltd, had operated various shops in large shopping centres in London, Glasgow, Liverpool and Cardiff together with few smaller shops and websites. In order to retain his businesses going and to fund his lavish lifestyle, Mr Davis fraudulently submitted seventeen VAT returns from 2009 and 2013, and fraudulently claimed £961,307. Mr. Davis also owned an Italian restaurant in central London but under declared his sales by more than 50%. He had made fraudulent claims for VAT of £58,507. Read more…