Accountant jailed for £365,000 tax fraud

A chartered accountant who conned his staff and clients out of £365,000 has been jailed for two years

Peter Rose from Tadworth used redundant VAT number to invoice clients and then pocketed the £150,000 VAT he received from them, without declaring or paying it to HMRC. 

Rose, who runs Mayfair Associated in Surrey, also defrauded his own staff by keeping £150,000 in PAYE and NI contributions over a nine-year period. 

In addition, he didn't pay £65,000 income tax or NI on his own earnings.

Continued...

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Comments
ShirleyM's picture

How did he get away with this for so long?    1 thanks

ShirleyM | | Permalink

Rose, who runs Mayfair Associated in Surrey, also defrauded his own staff by keeping £150,000 in PAYE and NI contributions over a nine-year period.

I wonder if he fiddled the P60's, or did he not submit the year ends at all?

And who would have thought it...    3 thanks

justsotax | | Permalink

he's a 'chartered' accountant......

What next?

vince8 | | Permalink

He will be out in 6 months or so but will there be a confiscation order for the money owed or is that it?

davidwinch's picture

Most likely    1 thanks

davidwinch | | Permalink

Most likely he will be subject to confiscation on the basis of having a 'criminal lifestyle' and that is quite likely to wipe him out financially.

Undoubtedly Mr Rose's relatively short sentence (in relation to the amount involved, the period of the offending and the breach of trust by a professionally qualified accountant) reflected his immediate admission of guilt.

David

Everyone's "chartered" these days.

chatman | | Permalink

justsotax wrote:
And who would have thought it...

he's a 'chartered' accountant......

Everyone's "chartered" these days. Could mean anything.

Tom 7000's picture

Ford Open    2 thanks

Tom 7000 | | Permalink

I heard he was in ford open and is hard pressed as he has 23 of his fellow inmates returns still  to complete before 31/1...Going rate is 15 woodbines per return, payment in advance. Of which he is now putting aside 3 woodbines to give to HMRC in the form of a penal tax....

£365K over 9 year period, 

BEDSBLONDE1967 | | Permalink

£365K over 9 year period,  but out in 6 months.   Surely there must be a confiscation order or he would have made £40k+ per year by doing this.

If he's like my husbands    1 thanks

DBOWERS | | Permalink

If he's like my husbands former boss that's exactly what he did - issue the paperwork to the employees so they think everything is hunky dory but don't bother to submit to HMRC. This only came to light when the Conrtibutions Agency wrote asking if hubby wanted to make up the nissing years of contibutions, which for 10 years employment added to quite a substantial sum. Fortunately we had kept all of his P60's and these were accepted as evidence that the money had been deducted and his NI account was credited with the figures.