Accountant jailed for £365,000 tax fraud

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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.

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08th Jan 2013 11:58

How did he get away with this for so long?

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?

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By DBOWERS
18th Jan 2013 15:26

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.

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08th Jan 2013 16:08

And who would have thought it...

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

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By chatman
09th Jan 2013 11:59

Everyone's "chartered" these days.

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

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

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

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By vince8
08th Jan 2013 16:45

What next?

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

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08th Jan 2013 17:43

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

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09th Jan 2013 12:20

Ford Open

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....

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09th Jan 2013 12:43

£365K over 9 year period, 

£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.

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By qad999
02nd Dec 2014 13:04

dumb and dumber

most frauds are pretty low level and involve the usual things

 

are people implying they were lenient because he's chartered (or was) ?

 

Id have thought they would have hammered the plonker more for being chartered as well

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