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9am Lowdown: Payroll fraud, CIOT & Sanchez

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18th Jan 2017
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Good morning and welcome to this morning’s Lowdown.

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Accounts administrator stole thousands from father in law’s business

An accounts administrator who paid herself and her husband second salaries from her father-in-law’s company escaped a prison sentence, with the judge sentencing her to a 14 month jail term suspended for two years.

According to the Wiltshire Times, Emma Kilminster used her access to payroll and other company expenditure to give herself £5,926 and her husband £8,132.70. When her father-in-law got his accountants to look into the state of the finances at the firm, he discovered his daughter-in-law was responsible for the fraud.

Passing sentence judge Tim Mousley QC said "It is quite obvious you were manipulative, devious and calculating and quite prepared to use other people in these machinations without any regard for what effect it might have on their employment.”

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CIOT announces 2017-18 presidential team

The Chartered Institute of Taxation (CIOT) has announced its current deputy president John Preston as the institute’s new president, succeeding the current president, Bill Dodwell.

Joining Preston, Ray McCann, a partner at Joseph Hage Aaronson and senior HMRC inspector, will be the institute’s deputy president. And completing the presidential team, Glyn Fullelove, who leads the tax function at Informa, will be the institute’s new vice-president. The new team will start their roles on 9 May 2017.

Commenting on his appointment, Preston said: “It is a great privilege to take up the presidency of the institute especially at a time when tax is so much in the public eye. I look forward to working with my fellow officers to continue to develop and implement the institute’s strategy.”

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Arsenal ace admits tax fraud

Arsenal striker Alexis Sanchez has admitted to two counts of tax fraud of £865,000 between 2012 and 2013 when he was playing for Barcelona, reports the Daily Mail.

The footballer confessed to the Catalan court via a video link from London. Since Sanchez has already paid the Spanish tax authorities the full amount he is not likely to face trial, and both parties are currently negotiating a fine to compensate for the delay in tax payments.

Sanchez is said to have set up the company Numidia trading, based in Malta, to avoid paying image rights between 2012 and 2013.

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