Accountant jailed for evading £111,000 of VAT
A qualified accountant from Peterborough, who stole more than £111,000 in VAT has been jailed.
Malcolm Rash, (69), of West Street, Kings Cliffe director of Riverside Business Ltd, was investigated by HMRC who found invoices charging companies for his management services that included VAT but he kept all the money he collected.
He has been jailed for 14 months at Peterborough Crown Court.
Colin Spinks, Assistant Director, Fraud Investigation Service, HMRC, said: “Rash thought he had come up with a plan to avoid paying the full tax owed. But he could not have been more wrong as HMRC will always pursue those suspected of tax fraud.
“Tax evasion is not a victimless crime. Rash was stealing money that should have been funding vital public services, but instead chose to keep it for himself. Now he is paying the price behind bars.”
Rash was interviewed under caution in January 2016 and was charged with the fraudulent evasion of Value Added Tax in August 2016.
Rash admitted the offences at Peterborough Crown Court on Tuesday 3 January 2017 and was sentenced to 14 months in prison.
Confiscation proceedings are in place to recoup the profits of his crime.