HiRes

Timely Reminder After Newham HMRC Crackdown – Landlord Jailed For Non Payment Of Tax

PIMS comment: We recently covered a story where it was claimed that nearly 50% of landlords in Newham had not disclosed their true taxable income click here if any at all. This story shows that the HMRC may take their time in prosecutions however it is more than likely that it is targeting the private rented sector.

Although this is story is a different type of case the HMRC has issued continual warnings that simple mistakes when submitting tax returns will shortly be no longer acceptable as the ‘amnesty’ is almost over….it is in everybody’s interest to be extra diligent in these matters.

Just under six weeks ago a landlord from the Fleet area (Church Crookham) was sent to prison for more than two years for not declaring his capital gains to the HMRC after selling his properties in Hampshire.

The ex-landlord should have paid £157,725 in Capital Gains Tax but by not notifying the HMRC of his proceeds from the sale of his rental properties he obviously thought he could get away with it. He was handed a custodial sentence of two years and three months.

The person who tried to hoodwink the HMRC was arrested at Gatwick Airport in October 2014 after having enjoyed a holiday in Turkey. The HMRC had been investigating the person for some considerable time and built up a watertight case of him failing to declare his capital gains from selling his properties in Aldershot between ( as long ago as) 2006 to 2013.

On Friday 11th August he was found guilty of two counts of attempting to deceive the HM Revenue together with three counts of fraud by making false statements previously on July 14th; he was subsequently sent to jail by the Winchester Crown Court at the hearing..

Upon sentencing, Judge Andrew Barnett said:

“The jury found you guilty of dishonesty. This is a serious matter, you deliberately failed to pay your capital gains tax over several years.”

The evasion was uncovered as part of HMRC’s crackdown on property tax evasion, the property taskforce campaign, and was subsequently referred for criminal investigation. Following the sentencing, confiscation will be sought to recover the proceeds of Fuller’s crimes.

Assistant director of the Fraud Investigation Service at HMRC, Richard Wilkinson, had previously said:

“Fuller thought he was above the law and decided not to declare or pay the tax due from the sale of some of his property portfolio.

“It is simply not acceptable to steal from UK taxpayers.

“HMRC will continue to pursue those who attempt to hide their gains on assets, their income, and investigate those who attack the tax system.”

Blog Post from PIMS.CO.UK

See details of our Guaranteed Rent Scheme here

If you have any comments, please email the author of this article and click on the link above



Registered Office: Woodgate Studios, 2-8 Games Road, Cockfosters, Hertfordshire, EN4 9HN | Registered in England and Wales | Registered Company No. 3961047 | VAT Registration No. 752 6015 48

Facebook Auto Publish Powered By : XYZScripts.com