Building director jailed over £1m VAT fraud (From Bournemouth Echo)
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Building director jailed over £1m VAT fraud
2:26pm Monday 25th February 2013 in News By Julie Magee
Building director jailed over £1m VAT fraud
THE director of three Dorset building companies has been jailed for 18 months for fraud offences involving more than £1 million.
Bournemouth Crown Court heard how Stuart Cleveland Price, 48, from Dewlands Common, Verwood, had faked invoices to reclaim VAT.
Based on his repayment claims, HM Revenue and Customs investigators were expecting to find invoices for more than £9 million when only a fraction appeared in his trading records.
The fraud ended after customs officers raided Price’s home and business address in June 2011 and removed his business records. They found that Price had traded for a number of years before he started to submit fraudulent VAT repayment claims.
Price pleaded guilty to three counts of VAT fraud between October 2007 and June 2001 involving ECO Homes Constructions Ltd, formerly based in Wimborne as well as The Steel Frame Company Ltd and SIPS ECO Panels Direct Ltd, both based at Hamworthy, Poole.
The HMRC’s assistant director of criminal investigation John Cooper said: “Price committed fraud over a number of years deceiving not only HMRC, but also the thousands of businesses who operate honesty and within the law.
“When he was asked for documentation to support the repayment claims, he produced bank statements that had been doctored with amounts that did not add up.
“He also provided invoices that had genuine headings but where the details were false. HMRC thoroughly investigates suspected tax fraud and clamps down on those who cheat the system.”
Anyone can report a fraud by calling the 24-hour hotline on 0800 59 5000.
Comments(16)
muscliffman
says...
3:16pm Mon 25 Feb 13
l'anglais wrote:18 months in jail? More like 9 months top-end if he behaves. £1million plus waiting after a few months publicly funded full board - sounds good to me.
18 months at her majesty's pleasure (paid for by tax payers) with £1 million+ stashed away accumulating interest.
Nice work if you can get it.
They say crime does not pay.
Ziggy starburst
says...
4:38pm Mon 25 Feb 13
Roband65
says...
5:45pm Mon 25 Feb 13
Rustyfootballer
says...
8:05pm Mon 25 Feb 13
GAHmusic
says...
9:50pm Mon 25 Feb 13
Bob49
says...
12:46am Tue 26 Feb 13
What amazes me is that other countries like Iceland, Greece and even the USA let them spend their money wildy as well.
billd766
says...
12:49am Tue 26 Feb 13
If that is correct HMRC can apply to the courts for a lien on all your goods and properties and sell them whether you like it or not.
Afterwards you will be placed on a watch list and everything you earn will be scrutinsed to the last possible penny.
I hope that they Do recover the money by whatever legal means are necessary.
l'anglais
says...
8:23am Tue 26 Feb 13
billd766 wrote:I think you'll find that the greedy and the mean are generally one step ahead.
If I remember correctly HMRC are the only entity in the country who do NOT need a warant to enter your house or business to seach for evidence. I also believe that they can and WILL pursue you through the courts to get the money back.
If that is correct HMRC can apply to the courts for a lien on all your goods and properties and sell them whether you like it or not.
Afterwards you will be placed on a watch list and everything you earn will be scrutinsed to the last possible penny.
I hope that they Do recover the money by whatever legal means are necessary.
Look at Amazon and Starbucks.
downmoor-ch63
says...
8:36am Tue 26 Feb 13
billd766 wrote:I hope that you are correct, otherwise they will all be doing it, I say, send in the Bailiffs, thereby sending out a clear message to the other ones in on the same act, that in the U.K. this type of crime just does NOT PAY.
If I remember correctly HMRC are the only entity in the country who do NOT need a warant to enter your house or business to seach for evidence. I also believe that they can and WILL pursue you through the courts to get the money back.
If that is correct HMRC can apply to the courts for a lien on all your goods and properties and sell them whether you like it or not.
Afterwards you will be placed on a watch list and everything you earn will be scrutinsed to the last possible penny.
I hope that they Do recover the money by whatever legal means are necessary.
really?? seriously??
says...
10:15am Tue 26 Feb 13
Mikeyunibournemouth
says...
10:29am Tue 26 Feb 13
Mikeyunibournemouth
says...
10:31am Tue 26 Feb 13
l'anglais
says...
11:57am Tue 26 Feb 13
Mikeyunibournemouth wrote:I hope his entire family are denied access to the benefits that society provides through the payment of Income Tax and VAT, ie... NHS, Schools, etc...
Also, prison should be reserved as punishment to protect the public. This gentleman is not a threat to the general public. I hope he is out in half and quickly reunited with his family.
billd766
says...
12:17pm Tue 26 Feb 13
l'anglais wrote:I agree 100%.
Mikeyunibournemouth wrote:I hope his entire family are denied access to the benefits that society provides through the payment of Income Tax and VAT, ie... NHS, Schools, etc...
Also, prison should be reserved as punishment to protect the public. This gentleman is not a threat to the general public. I hope he is out in half and quickly reunited with his family.
paul.p
says...
8:52pm Tue 26 Feb 13
l'anglais says...
3:02pm Mon 25 Feb 13
Nice work if you can get it.