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9am Lowdown: Former HMRC employee jailed for fraud

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21st Jan 2015
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Welcome to Wednesday! Headlines today include a civil servant jailed for tax credit fraud and a 'record' net sum of CGT and VAT. 

Former HMRC employee jailed for fraud

An Essex woman who fraudulently claimed over £86,000 in tax credits by lying about her personal circumstances to receive higher payments has been jailed for eight months.

Former HMRC employee Bolanle Shote from Basildon in Essex, made multiple false claims to HMRC for tax credits. She claimed that she was a single parent but an investigation proved that she had been living with her partner for around 10 years and lied in order to receive more money.

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Birmingham FC alleged theft

According to the BBC, Hong Kong police arrested a man in connection with the potential theft of £2.5m from the owners of Birmingham City FC.

The man was released without charge pending further investigation. The club owners fear that a former worker may have "misappropriated" funds. 

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Self assessment tip

Our tip of the day is to remember that today is the cut off point for anyone registering to file online for the first time, to get your details in time for the 31 deadline!

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HMRC record CGT and VAT yield 

According to UHY Hacker Young the VAT take from small firms in the last year rose 10% to £3.6bn. Over that period, the extra CGT take from them surged 24% to a new high of £136m.

The firm said each tax was being pursued more aggressively, as were enquiries and small businesses.

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