A Scottish transport company boss, who lied about his company profits and invented expenses incurred by the business, has been jailed for 32 months for a £174,000 VAT fraud at Perth Sheriff Court
Stuart Newing-Davis, from Perthshire, ran an agency that supplied trained staff to the UK rail industry. An HMRC investigation which compared his business records with what he declared on tax returns found he had manipulated the declarations he made to HMRC between March 2010 and August 2012 to reduce the company’s VAT liabilities.
HMRC claimed Newing-Davis carried out the fraud while enjoying a comfortable lifestyle, including a holiday home in France and a nanny for his children.
Anne-Marie Gordon, assistant director, fraud investigation service, HMRC, said: ‘Newing-Davis thought he had covered his tracks, but his scheme to steal from the public to fund a lifestyle well beyond his means has landed him in jail.’
HMRC is now working to recover the money owed, which can involve seizing assets such as houses and cars.