Called to account

Insight / Director banned over £5.6m football stadium accounting failure

A property developer who received millions in council funding to redevelop a football stadium has been banned from running companies for 10 years, after an Insolvency Service investigation found it was not possible to determine the exact nature of more than £5.6m worth of payments made to various parties

Audit / KPMG fined £6m over Lloyds syndicate audit failures

Big Four firm KPMG has been fined £6m by the Financial Reporting Council (FRC) following a long running investigation by the regulator into misconduct in the firm’s auditing of a Lloyds syndicate

Insight / Scammer jailed after tax probe

A serial fraudster has been jailed for four years and nine months after repaying a tax fraud debt with money stolen in another scam

Insight / Trustees removed after cash couriering at charity

The Charity Commission has dissolved a poverty aid charity after charitable funds were misused and cash was taken overseas, while trustees were using funds for personal expenses

Insight / Ex-Top Gear mechanic jailed for helping tax fraudsters

A former mechanic, who helped to build and modify specialist racing cars on the BBC1 television show Top Gear, has been jailed for providing assistance to father and son who fled to Spain before they could be sentenced for a £1m VAT fraud

Insight / Jail term for police accountant over £44K fraud

A police accountant has been given a jail sentence for stealing over £44,000 from Police Sports Fund UK, where he held the post of treasurer, in order to support a gambling habit

Insight / Furniture boss jailed for £150k VAT scam

 A discount furniture store boss who failed to pay more than £150,000 in VAT, despite recording sales of over £2m, has been given a jail sentence following an HMRC investigation into his business affairs

Insight / Poker champ loses £30K winnings to HMRC

A poker champion has been stripped of tournament prize-money for a second time to repay money he stole in a tax fraud

Insight / Called to account: April 2019

In this month’s called to account, a music tuner’s VAT scam falls flat, an accountant’s fake sick note fails, a scrap metal merchant tops the tax defaulter list, while an accountant trustee rips off a pension fund

Tax / Scrap metal company tops tax defaulter list owing £16.4m

HMRC’s latest list of major tax defaulters is topped by a scrap metal company owing £16.4m on £22.9m unpaid tax, followed by a restaurant owing £626,461, with a raft of takeaways and construction services also featuring

Insight / ‘Convoluted’ financial transactions see two charity trustees removed

The founding trustees of The Suyuti Institute, a Birmingham based charity, have been disqualified by the Charity Commission, following their removal, after an investigation found them responsible for misconduct and mismanagement in its financial affairs

Insight / Bans for disqualified director and stooge boss

A previously disqualified director has been banned for a second time after illegally running a Yeovil restaurant using former colleague as a stooge boss, with both of them remiss in paying tax and filing tax returns during the period it was in operation

Insight / Music tuner’s VAT fraud falls flat

A Somerset company boss, who fraudulently reclaimed more than £230,000 of VAT, has been jailed for two years following an HMRC investigation

Insight / Called to account: March 2019

The latest scandals, convictions and penalties this month feature a £60m HIV cure tax fraud, a truck dealer’s VAT scam, a cash-burning bankrupt, and a forex-fiddling travel agent FD

Insight / Accountant jailed for £400k VAT scam

An accountant who tried to avoid going to jail by forging a medical report from a Cypriot hospital has been jailed for a £400,000 VAT scam
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