Jailed for failing to pay Capital Gains Tax
A property investor has been jailed for failing to declare Capital Gains Tax from the sale of his rental properties.
Richard Fuller, 53, did not declare the profit gained from the sales of several Aldershot properties between 2006 and 2013.
HMRC reports that Fuller – who was arrested in October 2014 – evaded £157,725.
The landlord was found guilty of cheating the public revenue and fraud by false representation in July.
He was jailed at Winchester Crown Court on August 11.
Richard Wilkinson, assistant director of HMRC’s Fraud Investigation Service, 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.”
The investigation into Fuller was part of HMRC’s property taskforce campaign. Confiscation will be sought to recover the proceeds of his crimes.
When sentencing, Judge A J 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.”
HMRC says that since May 2011, more than 140 taskforces have been launched, bringing in more than £540 million.
Anyone with information about people or businesses suspected of being involved in tax fraud is urged to contact HMRC on 0800 788 887 or www.hmrc.gov.uk/reportingfraud/online.