9am Lowdown: Accountant busted for SA fraud

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Accountant busted for SA fraud

Accountant Angelo Luca who fraudulently used details of his former clients so he could submit false income tax self assessment returns has been jailed for 20 months and ordered to pay £21,587 in compensation.  

Luca was arrested by HMRC in December 2014 after an investigation found he set himself up as the director of three businesses – none of which ever traded. Luca attempted to fool HMRC by faking copies of leases for premises, invoices and archetectual plans. These documents were uses to support seven fraudulent VAT repayment claims totalling £69, 087. He also used details of former clients to submit false self assessment forms, which he used to funnel £17,263.46 directly into his bank account. He used the to send money home to his family in Scilly

Chris Gill, Assistant Director, Fraud Investigation Service, HMRC, said: “As an accountant Luca knew full well the seriousness of his criminal actions, but he thought by forging invoices and paperwork that he would he would be able to substantiate his claims. He stole money that should have been spent on vital public services, not to be used as his own personal nest egg. He is now paying the price with a criminal conviction and time behind bars.”

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PwC ranked fourth in global powerful brands

PWC was listed alongside Disney, Lego and L’Oreal as one of the world’s most powerful brands, based on Brand Finance’s Brand strength.

PwC was ranked fourth most powerful brand in the Brand Finance’s global 500 list. Brand Finance calculated the brand’s strength based on familiarity, loyalty, promotion, marketing investment, staff satisfaction and corporate reputation. PwC garnered 91.5 brand strength index score(BSI).

PwC ranked higher than Nike, Coca Cola and Google. Disney was this year’s strongest brand with a 91.8 BSI score. Disney were commended on their “rich history” and its dominant position through many acquisitions, such as the Star Wars and Marvel brands.

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Community: Walk away from accounts

AccountingWEB member Hjhooper turned to Any Answers with a problem concerning a dormant overdue account. Their new client is no longer trading but there are two large deposits in the bank.

 “The client says these relate to pensions, but has not provided any evidence of these,” the AccoutnignWEB said. An extension from companies house has been granted with the end of Feb as the new deadline. “The whole set up feels wrong to me and even with rep letters I do not want to sign off these accounts.  Would you walk away and lay out to the client why?”

After a listing Companies House definition of dormant company, NeilBurge said: “If she insists in regarding it as dormant, then not a lot you can do except put your advice in writing, wave her goodbye and probably breathe a sigh of relief!”

Head across to Any Answers to help this AccountingWEB member with their problem. 

About Richard Hattersley

Richard is AccountingWEB's practice correspondent. If you have any comments or suggestions for us get in touch.


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